ABSTRACT
This chapter focuses on BRICS (Brazil, Russia, India, China, and South Africa) and China's extraordinary survival at the top of the emerging economies table in terms of relentless growth right through the economic crisis, and the attendant international political attention and obeisance that accrued to Beijing since 2008. Generically, the purpose of BRICS is to reform the existing institutional framework of post-World War II post-Cold War origins. A bank for the entire Global South should be non-negotiable, so that Least Developed Countries (LDCs) keep faith in emerging powers that are growing at a much faster rate. The dependence on foreign capital for economic growth places some limits on the ability of developmental states in emerging economies to be completely in command of the market space. The Japanese model of locally headquartered companies buying their own government's bonds is more viable for the Eurozone than to expect the parachute to materialise from the BRICS.
