The Aftermath of the BRICS Fifth Summit: The Contradictions of International Political Economy

"This brief seeks to analyse whether the new global actor consisting of Brazil, Russia, India, China and South Africa (BRICS), as an emerging political and institutional force of the South, can contend economically with the hegemony of the West. Can it manage to confront key sociopolitical and economic issues of the developing countries for their resolution in the interests of the vast majority of the people of its members and the rest of the South? Can BRICS be a force for transformation of the global governance organisations and institutions, particularly the United Nations (UN) and its Security Council, the International Monetary Fund (IMF), the World Bank and the World Trade Organization (WTO)? The brief seeks to address what other countries of the South hope and expect of BRICS in terms of their development and role within the international political economy."