Critical perspectives on emerging economies Shifting Power Critical perspectives on emerging economies TNI Working Papers Transnational Institute PO Box 14656 1001 LD Amsterdam The Netherlands Email:
[email protected] www.tni.org Co-Editors: Nick Buxton and Nicola Bullard Contributing authors: Walden Bello, Praful Bidwai, Tomaso Ferrando, William Gumede, Dorothy Grace Guerrero, Afsar Jafri, Adhemar Mineiro, Joseph Purugganan, Deepshikha Shahi, Pablo Solón, Achin Vanaik Copy Editor: Imre Szucs Design/layout: Ricardo Santos Acknowledgements: Thank you to the following people for their support, advice and peer reviews – Diana Aguiar Orrico, Gonzalo Berrón, Patrick Bond, Fiona Dove, David Fig, Sam Geall, David Hallowes, Dot Keet, Sylvia Kay, Dale Mckinley, Gustavo Oliveira, Marcelo Saguier, Shefali Sharma, Pietje Vervest This work is under the Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 licence. http://creativecommons.org/licenses/by-nc-nd/3.0 September 2014 SHIFTI NG POWER Critical perspectives on emerging economies Chapter One Emerging powers: Rise of the South or a reconfiguration of elites? 4 Achin Vanaik Chapter Two Brazil: From cursed legacy to compromised hope? 20 Adhemar Mineiro Chapter Three China Rising: A new world order or an old order renewed? 36 Dorothy Grace Guerrero Chapter Four India in the Emerging World Order: A status quo power or a revisionist force? 58 Deepshikha Shahi Chapter Five The BRICS Alliance: Challenges and Opportunities for South Africa and Africa 82 William Gumede Chapter Six BRICS: A global