BRICS and its place in global governance
This paper aims to discuss the BRICS as a bloc and its growing influence on the governance of the international system. BRICS, an acronym for Brazil, Russia, India, China and South Africa is analyzed as an expression of the rise of emerging countries. The 2008 crisis, which mainly affected the central countries (USA, European Union), has accelerated the transition that the international system has undergone, where governance mechanisms must be modified to express the new momentum of the world economy. BRICS is a group formed with the aim of reducing the imbalance between the central countries and the Global South with regard to the governance of the international system. The creation of the New Development Bank (NBD) and the Contingent Reserve Arrangement (ACR) is a path adopted by the group to achieve this goal of greater engagement in the issue of global governance. It represents the advance of the group that is heterogeneous towards a greater institutionalization. We intend to show some parameters of BRICS relevance, emphasizing the financial institutions created by the group to convert their economic influence into political influence and thus to participate more actively in the mechanisms of global governance. The BRICS, while advocating reforms in traditional financial governance structures (World Bank and IMF), creates its own institutions to complement traditional institutions.