Summary of BRICS-Plus

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BRICS-Plus summary

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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.

 

Summary

Some developed countries are becoming increasingly strident about reining in free trade. Contrarily, the BRICS nations – Brazil, Russia, India, China and South Africa – are re-energizing regional integration and expanding global alliances with initiatives such as China’s One Belt, One Road program and its Asian Infrastructure Investment Bank. And China is leading a transformation of the BRICS infrastructure beyond the original group into a “BRICS+ circle.” 

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