With the fall of the Soviet Union in the early 90s the balance of power …show more content…
This seems strange though when one considers that India, Brazil, and South Africa are by definition stable, liberal democracies. Regardless of their politics however each member of BRICS has expressed dissatisfaction with the inflexibility of the current Bretton Woods institutions and various American economic and foreign policies. As a result it is easy to point to regional and cross-regional coalitions like BRICS (Brazil, Russia, India, China, and South Africa) as a counter to the American hegemon’s sometimes unsupported tactics, and perhaps the growing need to fill the vacuum created by the diminishment of American influence. A notion further supported by the fact that some economists believe China will soon outpace the United States in terms of GDP. This argument was seemingly given further credence when Jim O’Neill the former … of Goldman Sachs and the person who coined the term BRICs, said that, “world policymaking forums should be re-organized and in particular, the G7 should be adjusted to incorporate BRIC representatives.” (O’Neill) The question remains however, do such economic-based alliances necessitate