Work

The Evolution of the BRICS Trade Alliance: Analysing Strategic Partnerships and Economic Interdependence in the Global South

Year: 2024

Type: article

Abstract: The BRICS alliance—comprising Brazil, Russia, India, China, and South Africa—has emerged as a vital platform for fostering economic interdependence and strategic partnerships in the Global South. This study employs a normative juridical approach to analyze the legal frameworks, trade mechanisms, and institutional structures underpinning the alliance. Findings reveal that initiatives such as the New Development Bank, intra-BRICS trade agreements, and currency swap arrangements have strengthened collaboration among member states. However, challenges such as trade imbalances, geopolitical tensions, and institutional inefficiencies persist. This paper highlights the potential of BRICS to reshape global economic governance by advocating for equitable trade practices and promoting sustainable development in the Global South.

Source: The Es Economics and Entrepreneurship

DOI: 10.58812/esee.v3i02.401

Author: Haryono Haryono

Institution: Universitas Bhayangkara Surabaya

Language: English

Topic: Globalization, Economics, and Policies

Subfield: Economics and Econometrics

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDGs: Partnerships for the goals, Peace, justice, and strong institutions, Industry, innovation and infrastructure

Open Access status: diamond

OpenAlex ID: W4406301044

FWCI: 0.362

Cites:

Cited by: 1

Related to: 10