Study On The Effectiveness Of BRICS

With the further development of globalization after Cold War,there appears a group of emerging economics which have achieved rapid economic growth.In 2001,Jim O’Neill,the chief economist of Goldman Sachs Group,US,first used "BRIC" to refer to Brazil,Russia,India and China,the four outstanding emerging economics.In 2009,the BRIC officially claimed to establish the BRIC regime with aim to make current international order more fair and just through enhancing mutual cooperation,which started in the reform of international financial order and would help developing countries participate in global governance more effectively.In 2011,South Africa joint in the regime,which made BRIC become BRICS.The regime BRICS attracted great attention due to member states’ significant contribution to world economic development.In 2010,it succeeded in pushing the IMF reform forward,which achieved higher position for emerging economics.However,the interaction between BRICS and current world order decreased since 2012,which could be attributed to economic downturn worldwide and defect of domestic economic pattern.Eight years after the establishment,BRICS has not played as an important role in effectively stimulating just development of world order as supposed.BRICS is quite unique compared with traditional international regime.First,there is limited member states and with no developed countries that are in absolute superiority as the leader;second,member states are quite separated geologically;third,it is informal international regime.All these characteristics decide that there is no precedent for BRICS development,according to which it is necessary to deepen researches on BRICS as a regime with the help with current theories,then make judgment on its future and development pattern.Research on effectiveness of BRICS is an essential part for the systematical research on BRICS.On the one hand,it is a supplement for current theories;on the other hand,it provides necessary theoretical support for BRICS development.This thesis starts from the characteristics of BRICS,then applies contemporary theories about the effectiveness of international regime to evaluate the effectiveness of BRICS through perspectives of member states and the whole regime through benefits member states get and the implementation of summit commitments.According to the evaluation,BRICS as a regime is relatively effective in terms of member states’ benefits and influence on member states,but thereare significant gaps among member states and commitments;the influence on other regimes in international society is quite limited.It is easy to say after deeper analysis on specific commitments that factors influencing the effectiveness include differences among member states,the informality of the regime and the international environment.Based on this judgment,BRICS should limit the number of member-states,enlarge commitment,try institutionalization in certain area,and keep institutional flexibility.The evaluation also provides reference for judging the future of BRICS.Though member states have been suffering from global economic downturn and various domestic economic problems,with the recovery of world economy and deepening domestic reform,their economic downturn begins to reverse.In addition,member states share common interests to quite a large extent in energy,agriculture and environment,which have been communicated in detail through senior official conferences and forum.On the whole,BRICS may achieve more achievement if current resources can be fully taken advantage of.Faced with both opportunity and challenge,as the member state with strongest comprehensive strength,China should act positively to stimulate the development of the regime,which includes keep stable economic development,positively expand commitment meanwhile offer necessary help within the regime,and stimulate the regime to interact with current international regimes in areas such as climate and energy.