In the last few decades, and especially in the wake of the recent economic crisis, the global economic landscape has been altered while developing countries, particularly those in the BRICS group, have increased their economic and political power. The recent crisis, however, is not only economic or financial; today’s world faces a major socio-environmental crisis. The existing economic system based on the overwhelming dominance of nature and ruthless exploitation of natural resources appears to have exceeded the resistance limits of our planet. It is now urgently necessary to question the current system of production and to pursue innovative economic and social initiatives aimed at forging new developmental patterns that are both sustainable and inclusive.
In light of the increasing economic and bargaining power of the BRICS countries, this Policy Brief argues that the BRICS have the capacity to lead this process of change, and that Brazil, in particular, should play a leading role in this socio-economic transformation.