Abstract
The BRICS grouping (Brazil, Russia, India, China and South Africa) was born of a desire to create an alternative to the Western-dominated financial institutions and to secure for these countries a greater role in global affairs. This partnership is based on mutual interests and necessity rather than on shared values and ideals. High levels of social inequality, pervasive corruption, and challenges in education and the environment are common to all five countries. The New Development Bank, together with better coordination of joint action by the BRICS, has the potential to significantly reduce the scale of these problems and contribute to the long-term sustainability of these economies.
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Notes
Economies are ranked on their ease of doing business, from 1 to 189. A high ranking on the ease of doing business index means the regulatory environment is more conducive to the starting and operation of a local firm. This index averages the country's percentile rankings on 10 topics, made up of a variety of indicators, giving equal weight to each topic. The rankings for all economies are benchmarked to June 2013 (World Bank 2013a).
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Králiková, K. BRICS: Can a marriage of convenience last?. European View 13, 243–250 (2014). https://doi.org/10.1007/s12290-014-0326-2
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DOI: https://doi.org/10.1007/s12290-014-0326-2