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BRICs and Global Political Power

In: Globalization and the BRICs

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  • Francesca Beausang

    (4CAST)

Abstract

The ascent of the emerging markets cannot be dissociated from the global financial crisis. Although it preceded the global financial crisis, the latter certainly contributed to the weakening of Western economic power, which opened up a space for emerging markets to drive the world economy. The financial crisis helped raise questions as to the foundations of economic and political globalization and placed new actors at its centre. Not only did the emerging markets become the heroes of the post-crisis world, but also the state, a dominant force in emerging markets, made a major comeback in the context of a collapsing private sector – before, some might add, collapsing itself.

Suggested Citation

  • Francesca Beausang, 2012. "BRICs and Global Political Power," Palgrave Macmillan Books, in: Globalization and the BRICs, chapter 3, pages 68-97, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-27160-0_4
    DOI: 10.1057/9781137271600_4
    as

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