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BRICS: reaching new level of cooperation

Nesterov A.   ()

BRICS alliance made the first step towards institutionalizing at its summit in Brazil which took place in July 2014, by establishing the New Development Bank and creating a pool of currency reserves. This practical step contributed to the rise of the boldest expectations in respect of BRICS, related to the change of the global governance by establishing the world order based on mutual cooperation and rule of law. The most active driving forces of BRICS development are the leaders of Russia and China who are in need of allies in the field of foreign policy. Restraining factors for BRICS development is the absence of well-defined BRICS strategy as well as of an alternative model for global governance.

Keywords:BRICS, global governance, world order, global issues
 

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Citation link:
Nesterov A. BRICS: reaching new level of cooperation // Современная наука: актуальные проблемы теории и практики. Серия: ГУМАНИТАРНЫЕ НАУКИ. -2014. -№07-08. -С. 53-54
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