Rising protectionism in the developed world has some nations focusing on their own self-interests at the expense of global trade integration. In contrast, Brazil, Russia, India, China and South Africa (BRICS) are shaping a new framework that forms overlapping circles of trade alliances with other developing countries. This intriguing article from the Russian think tank Valdai Group advocates for a “BRICS-plus” initiative, though it largely overlooks the enormous difficulties in confederating non-BRICS countries with potentially conflicting goals. Nonetheless, getAbstract recommends it to anyone interested in a different approach to globalization.
In this summary, you will learn
- What constitutes the “BRICS+ circle,”
- What types of mechanisms underpin the framework and
- How a BRICS+ bloc could work with the developed countries.
About the Author
The Valdai Discussion Club is a Moscow-based think tank.