The Role of BRICS in Reshaping Global Trade Patterns
Abstract
The BRICS bloc, comprising Brazil, Russia, India, China, and South Africa, has emerged as a transformative force in global trade, fundamentally altering established patterns of international commerce. Since its formation in 2009, BRICS has evolved from an economic concept to a dynamic coalition representing over 40% of the world's population and approximately 25% of global GDP. This article examines how BRICS nations have reshaped global trade through South-South cooperation, alternative financial mechanisms, and the promotion of multipolarity in international economic relations. The analysis explores intra-BRICS trade dynamics, the establishment of parallel financial institutions, and the bloc's impact on traditional Western-dominated trade structures, highlighting both achievements and challenges in creating an alternative global economic architecture.
How to Cite This Article
Dr. João da Silva (2021). The Role of BRICS in Reshaping Global Trade Patterns . International Journal of Foreign Trade and International Business Upgradation (IJFTIBU), 2(1), 14-16.