BRICS+ and the New International Economic Order

Iulia Monica Oehler-Șincai ()
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Iulia Monica Oehler-Șincai: Institute for World Economy, Romanian Academy
Authors registered in the RePEc Author Service: Iulia Monica Oehler-Şincai

Chapter Chapter 5 in Europe in the New World Economy: Opportunities and Challenges, 2024, pp 99-117 from Springer

Abstract: 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.

Keywords: BRICS+; New International Economic Order; Global South (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-031-71329-3_5

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DOI: 10.1007/978-3-031-71329-3_5

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