HATASO Journal Management System

Volume 6,Issue S5, 2020

Oct-04-2022

Volume 6, Special Issue S5, Year 2020 Special Issue S5: "BRICS: The Emerging Block" Guest Editor: Dr. Mohd. Nayyer Rahman

BRICS and Global Restructuring: Notes for the Near Future

Foreign Investments in the Chinese Bond Markets

The New Development Bank and Multilateral Trade Facilitation Agreements on BRICS

What Does BRICS Mean for the Economies of the Member Countries: The Case of India

BRICS Energy Policies and Strategies in Response to Climate Change

India's Role in BRICS and New Multilateral Development Banks: Towards Improvisation of International Economic Governance

The connections among provincial and worldwide organizations and local foundations are significant and questionable in worldwide administration. During the nineties, through the development of the European mix, making of the North American Free Trade Area, and different territorial participation activities in the Asia-Pacific district, researchers and policymakers thought about whether these local alliances would piece the worldwide administration structure. The World Bank Group, a single worldwide establishment comprises a few loaning arms and numerous provincial foundations. Indeed, there are more than 250 multilateral advancement offices, including in excess of twenty Multilateral Development Banks (MDBs). But, because of the notability of the issue of the relationship among various MDBs, this goes in front of the making of two new MDBs i.e., the New Development Bank (NDB) and the Asian Infrastructure Investment Bank (AIIB). The NDB is a joint endeavor among the BRICS nations (Brazil, Russia, India, China, and South Africa), which tries to support infrastructure and sustainable development in creating nations. Keeping in view, the present study assesses various prospective benefactions and imperils and proposes manners by which the MDBs can append their collaboration in development financing. The article explores how BRICS adds to worldwide economic governance which centers on advancement, speculation, trade, investment strategies, welfare, and security. The researcher also highlights India’s role in BRICS for improvising the global economic governance. The paper will stress a fastidious writing survey from a complete point of view in order to express the objectives of the research. This is subjective investigation research and the examination depends on the Secondary Data assembled from different sources. The commitment of this investigation will help various specialists with an understanding of the involvement of BRICS and New Multilateral Development Bank in changing the world economy and to worldwide turn of events.

BRICS’ Economic and Trade Cooperation: Perspectives on a Potential Intra-BRICS Preferential Trade Agreement

India’s Trade Relation with BRICS Countries and Issues of Sustainability

What the 19th Congress of the Communist Party of China (CPC) means for China-Africa Relations and BRICS

Editorial Note - Special Issue on “BRICS: The Emerging Block”

BRICS has emerged as a promising club of emerging economies with a substantial contribution to the global trade and economy (Iqbal et al., 2015). According to the latest statistics, the total Gross Domestic Product (GDP) of BRICS countries in 2019 was US$ 21,154,265 million which is 53% of the total GDP of G7 countries (Canada, France, Germany, Italy, Japan, UK, USA) and it is expected to go up in the coming years (UNCTAD, 2021). The annual average of the GDP growth for BRICS in 2019 was 2.78% (Brazil 1%, China 6.1%, India 5.3%, Russia 1.3%, South Africa 0.19%) while for the G7 countries it was 1.17% (UNCTAD, 2021a). The trade balance expressed in terms of GDP for BRICS was 2.2% in 2019 while for the G7 countries it was (-) 0.42%, again suggesting a significant contribution of BRICS in the International Trade (UNCTAD, 2021b). This shows the potential of BRICS to outpace G7 countries in certain indicators. There can be no better time for publishing on BRICS studies when a Covid19 affected world is looking towards BRICS for more than one reason. BRICS cooperation in a multitude of domains (Luckhurst, 2013), from healthcare to the digital payments system, has made it a hot cake in multilateral cooperation studies (Zhongxiu and Qingxin, 2020). There can be no denial about the potential economic might of BRICS economies, and as studies suggest it will continue to bolster (Nayyar, 2020). Published literature suggests the case for BRICS as an emerging block (Iqbal and Rahman, 2016; Iqbal and de Araújo, 2015), though there are studies questioning the existence of a block (Beausang, 2012). The absence of a ratified agreement does not indicate the absence of a block. The cooperation among BRICS is proving to serve the purpose of a block without creating a complex legal structure. Cooperation in the emerging areas among BRICS countries is also taking its own pace such as Trade (Rahman, 2016; Rahman et al., 2020), Climate Change (Rahman and Turay, 2018), Sustainable Development Goals, Smart Cities, Industrialization 4.0 et cetera. Considering the increasing significance of BRICS countries in the Global Economy and its competitiveness (Loo and Iqbal, 2019), there was a need to deliberate on BRICS as an emerging block. The special issue in hand is the outcome of such deliberations, having a variety of articles focusing on different dimensions of BRICS issues and cooperation.