Journal of Contemporary Issues in Business and Government

Abstract

Global governance is all about interdependence. It started with economic interdependence even
without groupings, alignments, and alliances. Bilateral and multilateral economic processes gave
rise to joint frameworks in social and political environments. Together they formed a system
where ethics and normative principles can also be introduced to increase commonalities to avoid
conflicts. Alliances and organizations are consequential evidence of such common agendas.
BRICS (Brazil, Russia, India, China, South Africa) is one such example that promotes shared
aims. It also has brought apparent enemies, i.e., China and India, closer to fostering economic
and political stability for a better global society. Bilateral and multilateral trade among BRICS
members is also an important aspect of this study. It is an important endeavor to understand how
BRICS emerged as an important player in the international political system. Both role theory and
complex interdependence are applied to develop a clear perspective of how one South American,
three Asian, and one African nation can assert socially defined roles to reinforce global
governance. However, all these nations can also act individually apart from gaining economic
and political reinforcements through interdependence. Each nation in BRICS is individually and
significantly impacting regional and transregional levels as vibrant and emerging economies.
Other regional and transregional groups must take BRICS seriously as the post-American world
may see any/most of these economies evolving as hyperpower(s) to challenge unipolarity.