Reality or Mirage?: BRICS and the Making of Multipolarity in the Global Political Economy

Abstract

The international system embarked on a process of transformation to a more heterogeneous configuration and debates of multipolarity acquired vibrancy in recent years. The formation of groupings such as the BRICS by emerging powers was interpreted as the harbinger of a novel global order. This study presents a nuanced account of recent global trends through a critical reading of the BRICS both as analytical category and an international actor. Thus, the heterogeneity of its members in terms of political regimes, economic strategies, geo-strategic alignments and national interest formations is emphasized. In contrast to premature 'power shift' arguments, a more subtle approach that underlines complex forms of interdependence between established and emerging global actors is proposed. Consequently, the BRICS is conceptualized as an 'international regime' operating relatively well in a specific field of international relations, nothing more.