BRICS as an Alternative Power in the World Economy: An Economic Policy Analysis of Indonesia's Bargaining Position and Competitiveness in the Global Market
Year: 2025
Type: article
Abstract: The threat of a global economic crisis demands that Indonesia seek alternative solutions to maintain stability and enhance national competitiveness. This study aims to analyze the potential of BRICS as an alternative global economic power in relation to Indonesia's bargaining position in the global market. Using a qualitative descriptive method with Lukman Yudho Prakoso's implementation theory (integrative, interactive, transparent, accountable control), this study evaluates Indonesia's economic policy readiness to face multipolar dynamics. The results show that joining BRICS provides opportunities for increased export market access, development funding, technology transfer, and strengthening local currency-based payment systems. In conclusion, BRICS offers strategic benefits for Indonesia in facing global shocks, with relatively manageable negative risks through economic diplomacy and adaptive national industrial policies.
Authors: Heru Prastyo, Lukman Yudho Prakoso, M. Risahdi
Institution: Indonesia Defense University
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4414118487