Why Russia Needs the BRICS
Russia highly values its BRICS membership and wants to deepen its cooperation even as the economic dynamism behind the original concept has begun to run out of steam, writes William Pomeranz on CNN.com.
Created by bankers as a catchy acronym to entice foreign investors, the BRICS – first Brazil, Russia, India, China and then South Africa – have subsequently morphed into a loose association of countries with an emerging global view. The group now gathers annually to discuss its common aspirations, yet it still has few underlying structures.
In light of its origins and inchoate organization, the BRICS could be accused of being a Potemkin village – all show and no substance. Russia, of course, invented the Potemkin village and knows how to exploit its practical – and symbolic – uses. As a result, Russia highly values its BRICS membership and wants to deepen its cooperation even as the economic dynamism behind the original concept has begun to run out of steam.
To the extent that the BRICS have a common core, it unites a group of emerging market countries that had no input in drafting the rules of global commerce.
About the Author
William E. Pomeranz
William Pomeranz, the Director of the Wilson Center’s Kennan Institute, is an expert guide to the complexities of political and economic developments in Russia, particularly through the lens of law. He leverages extensive, hands-on experience in international and Russian jurisprudence to address a wide range of legal issues, from the development of Russia’s Constitution to human rights law to foreign investment and sanctions. He is also the author of Law and the Russian State: Russia's Legal Evolution from Peter the Great to Vladimir Putin (Bloomsbury, 2018).
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Kennan Institute
The Kennan Institute is the premier US center for advanced research on Russia and Eurasia and the oldest and largest regional program at the Woodrow Wilson International Center for Scholars. The Kennan Institute is committed to improving American understanding of Russia, Ukraine, Central Asia, the Caucasus, and the surrounding region though research and exchange. Read more
