The BRICS as a rehearsal for the new Bretton Woods

2015 is a potentially important year for the Brazilian international positioning, was when the New Development Bank was created (https://www.ndb.int/) by the BRICS countries (Brazil, Russia, India, China and South Africa). The Bank came as an alternative to the already consolidated World Bank (https://www.worldbank.org/en/who-we-are/ibrd)  and Inter-American Development Bank (https://www.iadb.org/pt/sobre-o-bid/visao-geral). Although the first is also under strong European influence, both are within a sphere of control of the United States.

Broadly speaking, the BRICS Bank focuses on supporting the development of structural works, especially linked to infrastructure. On the other hand, It also has an important political function, by showing the world that the BRICS countries are willing to inject resources into the Bank so that, na séque & ecirc; ncia, be redistributed to the group's countries. Thereby, show a willingness to cooperate and build alternatives.

Now the Bank enters a new phase, in which new shareholder countries will be able to join. Each member country may invite up to three new shareholders, which indicates the desire for political growth of the proposal. The entry of new members, even though it is not part of BRICS, enables them to actively participate in a new international power structure. It is still too early to say which countries will want to join, but it is becoming clear that the movement is not limited to just these three initial indications.

At a time of increasing global tensions around the macro-model of power prevailing in international relations, all these movements are tests of ordering. Europeans are closed in on their internal challenges, seeking maintenance of the block, in order to avoid major international engagements that could lead to differences in positions between its members. The United States, in its turn, have shown erratic international leadership in recent years. China has been rehearsing a return to its global relevance for years and now appears more confident in defending what it believes to be its role in the world.

The result is the rehearsal of a global structure in which the United States leads the current model and China strives to build an alternative model. I would not go so far as to say that we will live in a new Cold War, only with the substitution of one of the opponents. But we can say that we live in a new Bretton Woods (https://www.ipea.gov.br/desafios/index.php?option=com_content&view=article&id=2247:catid=28&Itemid=23), to the extent that the opportunity to recreate an effort to structure the global political-economic system is appearing. Latent military tensions that could lead to full-blown war seem unlikely at the moment, but the weakening of institutions that shape international reality and the emergence of others show this potential movement.

BRICS and the New Development Bank are certainly not institutions capable of shaping a new international power structure, since they would have to be able to replace the still important (although decadent in terms of capacity to organize international relations) ONU e OMC. However, These are trials of power projection that can indicate the path to this global rearrangement.

Brazil is in an advantageous position in this debate as it is an original member of the BRICs (which has the S of South Africa attached almost 10 years after the concept). no time, we are wasting this advantage and not giving real importance to the group, transforming it into one of the real pillars of our foreign policy. If we don't wake up to this soon, it might be too late.

originally published in World map (www.mapamundi.org.br)