Open AccessFrom Brazil to Russia: Strategic Partnerships among BRICS Member Countries
Author(s) -
Petr Yakovlev
Publication year - 2019
Publication title -
perspektivy
Language(s) - English
Resource type - Journals
ISSN - 2411-3417
DOI - 10.32726/2411-3417-2019-4-6-20
Subject(s) - protectionism , summit , international trade , sanctions , political science , economic sanctions , politics , commodity , economic power , multilateralism , order (exchange) , economics , law , market economy , geography , finance , physical geography
At the 11th BRICS summit in Brazil, Russian President Vladimir Putin pointed to such shared global priorities of the group as the compliance with international law, the central role of the United Nations in international affairs and the establishment of a more just global order. Five BRICS countries are concerned about negative trends in world economy and politics – the slowdown in global economic growth and trade, uncontrolled debt growth, surges in commodity prices, US attempts to obtain unilateral advantages through sanctions and protectionist measures and to infringe on the interests of other states. The BRICS five, based on their increased economic, financial and trade power, are looking for solutions to these negative developments, including through the building of alternative international economic institutions. The association is increasingly becoming a political reality of global scale.