The strategic role of BRICS in the development of Brazilian trade
Partnerships and perspectives
DOI:
https://doi.org/10.5281/zenodo.10914387%20Keywords:
BRICS, global influence, new development bank, economic power, sustainable developmentAbstract
BRICS, composed of Brazil, Russia, India, China, and South Africa, has emerged as an alliance of nations with significant global influence. Its creation, influenced by Jim O'Neill, the chief economist of Goldman Sachs, was motivated by the need to balance global economic power after the events of September 11 and the realization that Western dominance would not be sustainable. The group formalized itself in 2006 when Brazil joined a pre-existing partnership between Russia, India, and China, which sought joint solutions to global challenges. In 2011, South Africa joined, solidifying the acronym BRICS. The members represent a significant portion of the world's population, with a territory covering 27% of the Earth's surface and an economy equivalent to 31.5% of global GDP. Furthermore, BRICS established the New Development Bank (NDB) in 2014, with the aim of financing infrastructure and sustainable development projects in its member countries and in developing nations. The recent expansion of the group to include Saudi Arabia, the United Arab Emirates, Argentina, Egypt, Iran, and Ethiopia further strengthens its global influence, representing 46% of the world's population and almost 36% of global GDP. In addition to economic issues, BRICS is also concerned with cooperation in science, technology, and innovation to address natural disasters and climate change. This diverse alliance stands out as a significant player on the international stage, collaborating on various fronts to address global challenges and promote sustainable development.
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