ABSTRACT
Brazil, Russia, India, China and South Africa (BRICS) cooperation originated from the national initiatives and practices of the member countries under the exogenous environment. Under the existing framework of global economic governance, the institutional powers of the emerging economies represented by the BRICS countries are seriously asymmetrical with their economic strength and actual contributions. The formation of BRICS cooperation reflects that the member countries with similar international status can avoid the collective-action problem generated from an excessive number of members and are better able to identify the intention, costs, and betrayal of cooperation. In the future, efforts to stabilize BRICS cooperation should include exploring and fostering complementarity and seeking cooperation in all potential areas. The expansion of areas and functions of cooperation mirrors the changes in the BRICS' expectation for payoffs. The BRICS' common response to the external world manifests their desire to build fairer international norms.
