“BRICS Plus”: A New Global Economic Paradigm in the Making? ()
ABSTRACT
In 2023, the global economy is going through a
number of challenges. The imposition of sanctions on Russia, as a result of
the Ukraine-Russia conflict, has unleashed and fostered a new globalization
cycle and paradigm, with important implications for global business. This paper
explores one of the consequences of this new globalization paradigm that is
unfolding—the expansion
of the BRIC group, “BRIC Plus”, and its challenges and opportunities. The increasing fragmentation of the established globalization paradigm and the new geopolitical and geoeconomic global
realignment will send shockwaves throughout the global economy. The looming
global recession may aggravate these outcomes.
Share and Cite:
Gouvea, R. and Gutierrez, M. (2023) “BRICS Plus”: A New Global Economic Paradigm in the Making?.
Modern Economy,
14, 539-550. doi:
10.4236/me.2023.145029.
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