Political and economic model of BRICS cooperation: trends and prospects

Economic Annals-ХХI: Volume 140, Issue 3-4(2), Pages: 12-15

Citation information:
Zaitseva, M. (2014). Political and economic model of BRICS cooperation: trends and prospects. Economic Annals-XXI, 3-4(2), 12-15. https://ea21journal.world/index.php/ea-v140-03/

Mariia Zaitseva
PhD Seeker,
Institute of International Relations of
Kyiv National Taras Shevchenko University
36/1 Melnikova Str., Kyiv, 04119, Ukraine
mariya.zaitseva@gmail.com

Political and economic model of brics cooperation: trends and prospects

Abstract. Purpose. To analyze the political and economic cooperation in BRICS, the trends of future cooperation and the prospects of influence on the modern system of international relations. Methods. Political and statistical analyses were used for BRICS cooperation research. Results. The countries of BRICS are in the process of political and economic transformation, showing progressive pace of development. China and Russia will continue further restructuring of their political sphere, while Brazil, South Africa and India plan to carry out an in-depth reform of the economic development. Discussion. In prospect, BRICS may act as a united geopolitical force that can contribute from its expansion, but the deepening institutionalization of full integration is not on the agenda. Conclusion. The deeper political and economic cooperation among BRICS members will contribute to regional economic growth of Brazil, India and South Africa, as well as support of common unrepugnant geopolitical interests of China and Russia.

Keywords: Political and Economic Cooperation; BRICS; Brazil; Russia; India; China; South Africa

JEL Classification: F01; F02; F29; F42

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Received 25.02.2014