Year: 2025
Type: article
Abstract: Unwinding dynamics of global social, political and economic developments in the wake of the 21st Century, almost created pandemonium in the international arena. At this point, the Global North lost focus on all fronts, thereby failing to provide leadership to the rest of the world. In the midst of this stampede, a group of five third world countries comprising Brazil, Russia, India, China and South Africa (BRICS) together as an economic bloc to serve as a ‘stop-gap’ and an invaluable alternative to the hegemony of the Northern hemisphere for the rest of the 21st Century. This the BRICS did by leading in the areas of industrialization, manufacturing, Foreign Direct Investment (FDI) attraction, Gross Domestic Product(GDP) growth, refining of crude petroleum oil and general rise in trade and merchandise. This leads to current moveby many countries to join the already expanding BRICS. The western retreat in the areas of industrialization,manufacturing, technology and merchandise; and their reluctance to accept this unwinding reality of BRICS ascendancy to the apex of global economic and political prominence, forms the motivation for this study. The study is a qualitative one where data was generated through secondary sources such as academic journals, bulletins, textbooks, scholarly papers, and internet materials. The generated data was analyzed through critical discourse method.
Source: NG Journal of Social Development
Author: Bailey Saleh
Institution: University of Maiduguri
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W4410305461