Opportunities and Risk Assessment of BRICs New Development Bank*—— New Big Powers Coordination Perspective

Authors

  • Fan Xu Institute of International Studies, University of International Business and Economics

DOI:

https://doi.org/10.30564/mmpp.v1i1.741

Abstract

Abstract:

Under the background of counter economic globalization, the group of twenty (G20) has become the primary platform for the east and west powers to seek consultation and dialogue. And the coordination mechanism of the new global powers has come into being slowly. As a multilateral regional bank, the BRICsBank takes the interests of developing countries as the leading factor. Based on international economic cooperation ground, it will broaden the South-South cooperation to create more convenient conditions for foreign direct investment, as well as bilateral and multilateral financial cooperation. The opportunities and risks analysis of the BRICsBank from new power coordination perspective, with global economy governance structure transformation as the starting point, this research accurately defines the concept of coordination mechanism, systematically analyzes the evolution of global economic governance structure, intensively interpretsthe current characteristics of big power coordination mode in global economic governance structure, and objective assessestrends of global political and economic pattern.It is of important policy referenceimplications for China to effectively promote the BRICs Bank institutionalization andglobal governance of new power coordination nature. 

Keywords:

BRICs New Development Bank; G20 new big powers coordination; RMB internationalization; Opportunities and challenges

References

[1] Thompson, Giselle, “BRICS: An Anti-Capitalist Critique, by Patrick Bond and Ana Garcia, eds.”,International Journal, 2016: 659-661.

[2] Gottwald, Jörn-carsten, “The domestic sources of China's new role in reforming global capitalism”, International Politics, suppl. Special Issue: Second Image Revisited: The Domestic Sources, 2015: 779-800.

[3] Stephany Griffith-Jones, “A BRICS DEVELOPMENT BANK: A DREAM COMING TRUE?”, United Nations Conference on Trade and Development Discussion Paper, 2014, No. 215.

[4] RadomirStojković.The new development Bank Brics. Bankarstvo, 2016, 45(2).

[5] Mike Callaghan,FabrizioCarmignani,Anthony J Makin,DanielaStrube. G20 and Development South Asian. Journal of Macroeconomics and Public Finance, 3(2) 155–173.

[6] Harold M L,“Transfer of Foreign Direct Investment (FDI) from BRICS to Tanzania: An Opportunity to drive Modernisation and Growth in Tanzania”,A Monthly Peer Reviewed International Journal of Management & IT,Bhubaneswar3.11, 2016: 7-16.

[7] “BRICS Bank should not be a clone of IMF or World Bank”, The Financial Express, 2014.

[8] Stuenkel, Oliver, “Emerging Powers and Status: The Case of the First BRICs Summit”, Asian Perspective, 2014: 89-109.

[9] “COVER STORY; Bank, currency pool tohelp making BRICS states less dependent onfinancial policy of Western powers - Putin”, Interfax : Russia & CIS Business & Investment Weekly, 2014.

[10] Mostafa, Golam, “The rise of the BRICS and their challenge to the G7”, International Journal of Emerging Markets, 2015: 156-170.

[11] Efstathopoulos, Charalampos, “India and global governance: The politics of ambivalent reform”, International Politics, 2016: 239-259.

[12] Hongying Wang. The New Development Bank and the Asian Infrastructure Investment Bank: China’s Ambiguous Approach to Global Financial Governance[J]. Development and Change, 2019, 20(1), 221-224.

[13] Hongying Wang. New multilateral development banks: opportunities and challenges for global governance[J]. Global Policy, 2017, 8 (1), 113-118.

[14] Sergio Gusmão Suchodolski, Julien Marcel Demeulemeester. The BRICS Coming of Age and the New Development Bank[J]. Global Policy, 2018, 9 (4), 578-585.

[15] Andrew F Cooper. The BRICS’New Development Bank: Shifting from material leverage to innovative capacity[J]. Global Policy, 2017, 8 (3), 275-284.

[16] Andrew F Cooper, Assif Farooq. Testing the club dynamics of the BRICS: the new development bank from conception to establishment[J]. International Organizations Research Journal, 2015, 10 (2), 32-44.

Downloads

How to Cite

Xu, F. (2019). Opportunities and Risk Assessment of BRICs New Development Bank*—— New Big Powers Coordination Perspective. Macro Management & Public Policies, 1(1), 27–35. https://doi.org/10.30564/mmpp.v1i1.741

Issue

Article Type

Review