| ID | 088609 |
| Title Proper | BRIC Aims to Create a Just and Equitable World Order |
| Language | ENG |
| Author | Chaudhury, Dipanjan Roy |
| Publication | 2009. |
| Summary / Abstract (Note) | EVER SINCE THE END OF COLD WAR, it was strongly felt that a multi-lateral world order must be established. With countries like Russia, India, China and Brazil, emerging as powerful economies over the last two decades, there was an urge for them to join hands to complement each other and create a multi-polar world. It was felt that such an arrangement was necessary to voice the opinion of world's four biggest countries and subsequently the Brazil, Russia, India and China (BRIC) was conceptualized. Such an alliance is not just an economic one, but an initiative to create a just world order. BRIC is an example of how countries with different cultures are able to unite to work on common initiatives, pursuing peace, multilateralism and respect for international law. The convergence that they have been able to foster, notwithstanding the plurality among our points of view, is likely to strengthen the actions we take in different multilateral forums and levels.
BRIC, an acronym coined by Goldman Sachs to define a group of large emerging economies with fast growth rates, aspires to play a significant role in reshaping the global economic and political order. On May 16 this year Brazil, Russia, India and China vowed to turn their four-way group into a powerful instrument for changing the world. At their first stand-alone meeting at Yekaterinburg, Russia, the Foreign Ministers of the four countries institutionalized BRIC, and agreed to hold regular meetings at the level of Foreign Ministers. Though the BRIC concept was articulated by the corporate sector, the four countries found it practical to adopt it as part of foreign diplomacy, especially in view of their reservations towards some of the policies being defended by the US at world bodies. |
| `In' analytical Note | International Affairs (Moscow) Vol. 55, No.1; 2009:p51-56 |
| Journal Source | International Affairs (Moscow) Vol. 55, No.1; 2009:p51-56 |
| Key Words | BRIC ; Equitable World Order ; Create |