The Rise of the BRICS in the Global Political Economy

The Rise of the BRICS in the Global Political Economy

Changing Paradigms?

Edited by Vai Io Lo and Mary Hiscock

Taking an interdisciplinary approach, Vai Io Lo and Mary Hiscock, together with scholars and researchers from around the world, investigate the rise of the BRICS and assess the extent of their further development and influence from the perspectives of economics, international relations and law.

Chapter 13: The BRICS and Russia

Stephen Fortescue

Subjects: development studies, development economics, economics and finance, political economy, politics and public policy, political economy

Extract

The focus of this chapter is Russiaís participation in the BRICS grouping. Russia claims to be a keen participant, indeed a driving force. The grouping is seen by most commentators, to a greater or lesser extent, as a challenge to the ëhegemonicí Western-oriented world order. This chapter examines how Russia sees that challenge and the BRICSí relevance to it. This is done in terms of two possible broad approaches which are called ëgreat power diplomacyí and ënew diplomacyí. ëGreat power diplomacyí means an aggressive challenge to the established order by a small group of states with great power claims, who see themselves as at least the equals of, if not ultimately in a position to replace, the existing hegemonic order. ëNew diplomacyí refers to a more ëdemocraticí approach to modifying or replacing the existing order, in which any or all nation states ñ and non-state actors ñ are able to participate in the shaping of the international order, including through membership of a multitude of multilateral bodies, with various and often overlapping memberships and diverse agendas. The analysis includes consideration of both international security and economic aspects of the BRICS agenda.

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