BRICS are a new actor in the international society and with their emerging markets they are believed to have more economic strength than the United States in the next decade. Globalization theory, through liberalism explains why BRICS came to be and the decision to create a new development bank. This bank cannot only be explained through globalization but also as a result of the current financial institutions of IMF and the WB not giving them more influence according to their economic status. By creating a new development bank it will challenge western thinking and the Great Power theory, which argues that a State cannot be a great power without military power. This project, therefore sets out to examine how BRICS can garner more influence in international finance institutions without using military strength, rather they seek their influence by establishing a new international institution that is developed by the South to the South with the creation of new development bank. This could potentially challenge the current international finance institutions which are dominated by Western influences.
|Uddannelser||Global Studies, (Bachelor/kandidatuddannelse) Bachelor el. kandidat|
|Udgivelsesdato||27 maj 2013|