The sustained growth of rising powers, including the grouping known as the BRICS (Brazil, Russia, India, China and South Africa) is reshaping global governance arrangements. Annual BRICS summits and inter-ministerial meetings seek to reform existing international financial and economic institutions and promote a multipolar system of global order. The BRICS are also gaining prominence amongst ‘emerging donors’, building on a tradition of South-South development cooperation, which has grown outside the framework of the OECD Development Assistance Committee. As Southern donors become major players, and with the potentially significant role of a new BRICS Development Bank, what might a polycentric international development system look like and what are the policy implications?
Carey, R.; Li XiaoYun. The BRICS and the International Development System: Challenge and Convergence? Policy Briefing. Institute of Development Studies, University of Sussex, Brighton, UK (2014) 4 pp.