Overview of the BRICS Economies in the Global Context of Increased Vulnerabilities

The recent financial and economic crisis highlighted that the global economy is fragile. Since 2011, factors such as civil conflicts and the unprecedented rise of terrorist groups, mass migration, increased geopolitical tensions and corruption scandals have underscored that the international environment has not become more predictable and more balanced, but on the contrary, regional and global uncertainties have been amplifying. Even international alliances, such as the group consisting of Brazil, Russia, India, China and South Africa (BRICS) see their individual and common goals threatened, given the emergence of new determinants, both internal and external, with adverse effects at economic, social, political and geostrategic levels. Although the BRICS countries are faced with wearisome and strenuous challenges, we consider that they will continue to have a major impact not only on the supply and demand balance, international trade and investment flows, income and employment in the long term, but also on the reconfiguration of the New International Economic Order.