BRICS TENDENCIES TOWARDS REDEFINING THE GLOBAL ECONOMIC ORDER

Abstract

The paper analyzes the tendencies of BRICS (Brazil, Russia, India, China, South Africa) as an informal block for the creation of a new global economic and political reality. Former superpowers and economies with the most pronounced growth trends are today gathered around a common idea - the creation of an alternative global order. Propagating their vision of the modern world, the BRICS member states seek to change the current constellation of forces at the global level, shift the center of world power from the Euro-Atlantic region and create functional multilateralism. Using the idea and concept of the New Silk Road, China is strengthening its influence in an area where it was not represented during the first decade of the 21st century. Russia is building a new global position based on its energy potential and military cooperation with non-European countries Brazil, India and the Republic of South Africa use instruments of economic diplomacy to further strengthen competitive activities. Brazil is focused on the growth of the trade exchange of agricultural products, above all, fruit. India is repositioning itself globally on the basis of industrial production in the field of information and communication technologies. The Republic of South Africa, as the most developed country in Africa, finds the basis for a new role on the international stage in natural resources and a developed mining sector. The individual influence that the states of this forum have in the global framework is strengthened by joint and coordinated action within the most important global institutions. Certain changes have been made in the quota system of the International Monetary Fund, the issue of the election of leading individuals of the World Bank Group and the World Trade Organization is increasingly topical, as well as the reform of the United Nations Organization, all as a result of the influence of the BRICS countries in the aforementioned institutions.