The Political Economy of Intra-BRICS Cooperation: Challenges and Prospects

Description

This book uses the idea of internal cohesion through intra-BRICS cooperation to make the argument that the next phase in the evolution of BRICS is to strengthen cooperation among BRICS countries in the implementation of decisions taken. There is a risk that what the BRICS promises and what it represents both in the eyes of its friends and foes might not materialise in the absence of central institutions. So, the book calls for the deepening intra-BRICS cooperation across all policy areas where there are already undertakings could help mitigate this risk. Siphamandla Zondi is Professor in the Department of Politics and International Relations and Acting Director of Institute for Pan-African Thought & Conversation at the University of Johannesburg. He chairs the South African BRICS Think Tank, which facilitates the participation of researchers in BRICS policy development processes. He is Editor of International Journal of African Renaissance Studies, the African Journal of Political Science, and the Journal of BRICS Studies. Preface Contents Notes on Contributors List of Figures List of Tables 1 Towards Deeper Intra-BRICS Cooperation: An Argument Introduction The Prism BRICs as a Goldman Sachs Idea: An Economic Bloc BRICS as a Russia-China Alliance Plus BRICS as a Platform for Regional Powers Major Divergences Among BRICS Member States The Missing Link The Book Outline Conclusion References 2 The BRICS Development Bank and Challenges for development financing in BRICS—Issues for Consideration Introduction BRICS Development Bank—A Consolidated Formidable Force for Inclusive Development The Role of National, Regional and Multilateral Development Banks Governance and Shareholding Structure of the BRICS Development Bank New mechanisms for Financing Development and Cooperation of BRICS BRICS Development Bank Projects, Instruments and Products Criticism Levelled Against BRICS Development Bank Matters for the BRICS Development Bank’s Consideration Going Forward Conclusion References 3 BRICS, Structural Power and the BRICS Bank as a Potentially Progressive Instrument for a Passive Revolution Structural Power: The Context Countering Hegemony: A BRICS Approach The Shoe Must Fit the NDB and Not the Other Way Round Conclusion References 4 Out of the Regime Complex: Practical Options for Enhancing Cooperation in Climate Change and New Frontiers in BRICS Introduction From Culture of Denial to Culture of Complexity: Mapping the Shifting Landscape Who Shall Stem the Rising Ocean Level and Heal the Warmth Planet? The Moral and Social Justice Challenge The Impact of BRICS on Climate Change and the Impact of Climate Change on BRICS Climate Change Position of BRICS Countries Identified in BRICS’ Summit Declarations Belling the Cat? The New Roadmap for BRICS Conclusion References 5 Opportunities and Options for Energy Cooperation Among BRICS Countries Introduction A Review of BRICS Energy Cooperation Technology Transfer as a Catching Up Mechanism for BRICS Cooperation on International Governance of Energy, Environment, and Natural Resources Cooperation in CO2 and Greenhouse Gas Emission Reduction Green Economy Revolution Cooperation on Other Sources of Energy Concluding Remarks References 6 BRICS Cooperation in Fighting Transnational Crimes Introduction Initial Transnational Organised Crime Discourse Conceptualising Transnational Organised Crime The Evolving Nature of Transnational Crime Transnational Organised Crime Within the Context of BRICS Analysis of TOC Arising Specifically from BRICS Summit Declarations 2012–2018 Recommendations on Coordinating BRICS Efforts to Fight Transnational Crime Conclusion References 7 BRICS Countries’ Competitiveness in the 4IR: Findings from Three World Economic Forum Indicators Introduction The Fourth Industrial Revolution Conceptual Framework: The WEF Global Competitiveness Index Methodology Analysis The Correlation Between 4IR Competitiveness and FDI Observed: A Discussion Conclusion References 8 No One Left Behind: The Implications of the 4th Industrial Revolution on the Developmental Agenda of the BRICS Countries Introduction Rising Inequality in the Context of a Polarised Labour Market Education and Skills in the BRICS Countries Employment Trends in BRICS Nations BRICS Nations and the Digital Divide Cooperation on Job-Related Digital Innovation Initiatives in the BRICS Countries Conclusion References 9 Tangible Economic Cooperation for South Africa and the BRICS: Taking Stock and Looking Forward Introduction Intra-BRICS Trade and Investment: Status Quo Enhancing Intra-BRICS Economic Relations Towards a BRICS Free Trade Agreement BRICS and the African Continental Free Trade Agreement Enhancing Investment Through the New Development Bank Conclusion and Policy Recommendations References 10 Financial Inclusion and Women Empowerment in BRICS Countries: Perspectives on India and South Africa Introduction Financial Inclusion and Inclusive Development Political Economy of Financial Inclusion Global and National Policies on Financial Inclusion Gender Financial Inclusion in BRICS Gender Financial Inclusion in India Gender Financial Inclusion in South Africa The Gender Growth Rate in the BRICS Economy The State of Financial Exclusion in South Africa Government Initiatives to Promote Financial Inclusion Lessons learnt from South Africa on Gender Financial Exclusion The State of Financial Exclusion in India Government Initiatives to promote financial inclusion in India Lessons Learned from India’s Experiences Conclusion and Recommendations References 11 COVID-19 and the Counter-Cyclical Responses of the BRICS Countries Introduction The Socio-economic Impact of COVID-19 on the BRICS Countries The Political Economy of the COVID-19 Pandemic in the BRICS The BRICS’ Economic Responses to COVID-19 The BRICS’ Responses to COVID-19 and the Post-COVID-19 World Order Conclusion References 12 South Africa’s Vaccine Production Potential: Towards an Intra-BRICS Vaccine Production Framework Introduction Our Approach The Human Capital-Policy Regime-Economic Development Nexus South Africa’s Skill Capital Status and the Policy Environment The Policy Environment Conclusion and Recommendations References 13 Towards an Intra-BRICS Implementation and Accountability Framework on Sustainable Development Goals Introduction Development as a Conundrum MDG Implementation and the Accountability Framework: Lessons Learned Principle-Driven Accountability and Implementation Framework for Agenda 2030 Conclusion References Index