ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Defending Mutual Interests

The Sanya declaration shows that BRICS is slowly getting its act together to defend mutual interests.

“BRICS” was a slogan invented by Goldman Sachs in the early years of the previous decade as part of its marketing drive to consolidate itself in the large “emerging” economies of Brazil, Russia, India and China. The grouping has travelled a long way from then. It has now given itself a separate identity, has organised three summits, expanded to include South Africa, and is slowly but surely beginning to defend mutual interests. That at least is the conclusion one can draw from the Sanya declaration issued at the conclusion of the BRICS summit on 14 April in the coastal city of China.

BRICS emerged as a concrete group when the then four large members felt a need for coordination and cooperation in global economic policymaking at a time when they were denied a place in the hierarchy of global powers. The BRICS countries have since been included – many would say co-opted – in the Group of 20 (G-20), but there is still the need to ally to defend their mutual interests.

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