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Short Communication | Social Science | India | Volume 12 Issue 5, May 2023 | Popularity: 5.2 / 10

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Have the Bricks of BRICS Started Decaying?

Sanjay K. Jha

Abstract: It was 2001 when the term BRIC was firstly used by Jim O?Neil in his policy paper in which he found that the four countries Brazil, Russia, India, and China were growing faster than the largest and wealthiest G7 (block of seven countries namely Canada, France, Germany, Italy, Japan, UK, and USA). Inspired by the findings of Jim O?Neil (2001) of Goldman Sachs, the leaders of BRIC decided to have an intergovernmental organization in order to boost their economies and research cooperation. In that pursuit, South Africa joined BRIC and it was renamed BRICS. Assessing a decade of moderate success and desired outcome of the economic association called BRICS, this review article hypothesizes that BRICS has started losing its credibility within and beyond the Group in recent years in terms of addressing its shared goals, bond, and solidarity. The present article is aimed at discussing briefly how the Group BRICS is faced by more challenges than opportunities today and their possible solutions.

Keywords: BRICS, Challenges, Opportunities, Cooperation, Competition

Edition: Volume 12 Issue 5, May 2023

Pages: 822 - 823

DOI: https://www.doi.org/10.21275/SR23510195907

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