BRICS is a politico-economic union of five emerging economies - Brazil, Russia, India, China, and South Africa. It was formed to help these countries coordinate policies, counter Western hegemony, and advocate for greater representation of emerging economies in international organizations. By pooling their unique strengths and promoting solidarity over conditionality, BRICS aims to present alternative perspectives to the prevailing Western-dominated global narrative. However, realizing its goals will depend on BRICS' ability to develop cohesive strategies and manage the diverse interests among its members.

1.  ASSISTANT PROFESSOR
BRICS :AN ALTERNATIVE ECONOMIC ALLIANCE TO
CHALLENGE WESTERN HEGEMONY
By SHARON.S
ASSISTANT PROFESSOR
DEPARTMENT OF POLITICAL SCIENCE
ST.STEPHENS COLLEGE
PATHANAPURAM

2. BRICS-Brazil,Russia ,India ,China and South Africa.
brainchild of a Goldman Sach economist
Emerging market economies

3. Each nation has its own strength along
with its particular weakness,but in the
case of BRICS as an economic entity ,the
original purpose of the alliance is that
each country’s strength will become
stronger and their weaknesss will
diminish.
BRICS are not among the most prosperous
countries according to per capita income.
However, through their strong economic
dynamics as well as territorial and
demographic dimensions BRICS are
influencing global economic development
to a great extent.

4. It is a politico-economic
union of five countries (Brazil,
Russia, India, China and South
Africa) striving to come up
with some sort of a formula
which could help them co-
ordinate their political and
economic objectives, form a
common policy outlook on
issues of global significance
and act as a unit in
international organizations
such as the UNO
Heterogeneity of BRICS as
they are not territorially
interconnected gives the
potential to counter
hegemonic advances of the
west.Reflects a polycentric
system of international
relations

5. present the world
with ideas which
are not of the
Western origin,
thereby proposing
an alternative yet a
competing global
narrative.
proposed greater
voice and
representation in
international
financial
institutions for
emerging and
developing
economies
the principal premise
of the Summit - a
necessary reaction to
the global financial
crisis - , and
collective decision
making of the
international
community in
sensitive areas such
as multilateral trade
negotiations,
International
Monetary Fund
reforms, Security
Council and United
Nations reforms

7. BRICS do not attach conditions
on governance, economic
policy and performance, and
institutional reforms to their
cooperation with other
developing countries.
Conditionality, they argue,
would undermine the principle
of respecting “national
sovereignty” and promoting
“solidarity”.
The difference in sectoral focus
and modalities of financing
partly reflects different
domestic politics and BRICS’
own experience as beneficiaries
of aid.
Most of the aid the BRICs have
received has been for
investment projects and has
helped alleviate infrastructure
bottlenecks and poverty
reduction.

9. BRICS realize that they won’t be able to achieve
financial stability as long as Washington dictates the
rules, issues the de facto “international” currency, and
controls the main levers of global financial power.
This is why the BRICS have decided to chart a different
course, to gradually break free from the existing
Bretton Woods system, and to create parallel system
that better serves their own interests.

12. The success of the BRICS countries depends on how
well they will face the present global challenges and
on their ability to develop a consistent integrative
strategy and use their available resources efficiently
This would probably be compounded by the diverse
nature of the internal economic structures of the
BRICS members as well.

13. since the Chinese economy happens to be the most
flourishing among the participant BRICS member-
states, the NDB must consciously steer clear of
allowing China to determine the terms and
conditionalities attached to the financial equations.
the political sensitivities which cast a shadow on the
bilateral ties between India and China – the two major
protagonists of this multilateral grouping - may cloud
the prospects of economic cooperation, particularly in
the context of situations vitiated by border skirmishes,
which are not very uncommon.

14. The success of the BRICS countries depends on how
well they will face the present global challenges and
on their ability to develop a consistent integrative
strategy and use their available resources efficiently
the future of BRICS will involve not only the five
countries in question but also the rest of the world,
which today more than ever needs new international
institutions capable of addressing global challenges.