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BRICS+ and the New International Economic Order

In: Europe in the New World Economy: Opportunities and Challenges

Author

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  • Iulia Monica Oehler-Șincai

    (Institute for World Economy, Romanian Academy)

Abstract

The present paper has as key objectives the investigation of the BRICS+ institutional architecture and its support for a NIEO, the analysis of the BRICS countries in terms of economic power and influence, as well as the interpretation of the enlargement process considering specific motivations for each new participant. The key novelty of this research resides in the classification of potential and current partners worldwide in five main categories, according to their position towards BRICS. Motivations of economic, geopolitical and ideological origin are analysed, based on official declarations and literature review. Among the new member states, the United Arab Emirates is interested in BRICS from the perspective of increasing its bargaining power and role on the international stage. For Egypt and Ethiopia, BRICS membership is mainly relevant from an economic standpoint. For Iran, the accession is impelled by economic and geopolitical determinants. Argentina’s position change is of ideological origin. The paper also fills the gap in the literature regarding the current NIEO, which is different not only from those between 1970s and 1989, but also from that reflecting the “unipolar moment”. The expectations of developing countries in relationship with BRICS are high, being related to the NIEO, inclusive multilateralism and reform of multilateral organizations.

Suggested Citation

  • Iulia Monica Oehler-Șincai, 2024. "BRICS+ and the New International Economic Order," Springer Proceedings in Business and Economics, in: Luminita Chivu & Valeriu Ioan-Franc & George Georgescu & Ignacio De Los Ríos Carmenado & Jean Vasile (ed.), Europe in the New World Economy: Opportunities and Challenges, chapter 0, pages 99-117, Springer.
    • Handle: RePEc:spr:prbchp:978-3-031-71329-3_5
    DOI: 10.1007/978-3-031-71329-3_5
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