Latin America’s Integration into BRICS: Challenges and Prospects
https://doi.org/10.31249/kgt/2024.05.05
Abstract
The article examines the prospects of Latin American states joining BRICS in its possible next enlargement. It explores the reasons why Russia, China, and Brazil (acting as a regional leader in Latin America) may be interested in Bolivia, Venezuela, Honduras, Colombia, Cuba, and Nicaragua joining the grouping. The main political and economic prerequisites for the admission of the aforementioned states to BRICS are identified. The political criteria set by the BRICS “core” member states for accession candidates are outlined. The discussion among the member countries regarding the legal formalization and conceptualization of the new status of interaction with the grouping, referred to as a “BRICS partner country,” is examined. It is concluded that Bolivia’s potential inclusion in the grouping seems to be the most favorable for both China and Russia due to the large number of joint projects related to economic and energy development. In turn, Brazil’s initiative to support Colombia’s candidacy may be met with a positive response from China, which seeks to consistently expand its influence in Latin America. At the same time, despite the great economic potential of Venezuela and the geostrategic importance of Cuba, the inclusion of these countries in the enlarged BRICS is still difficult due to the fact that some members of the grouping seek to avoid weakening it through the inclusion of economically and politically unstable states. Some candidates do not aspire to join BRICS as full members: the authorities of Nicaragua have declared their desire to obtain the status of a BRICS partner country, while the leadership of Honduras has announced plans to join the New Development Bank.
About the Author
I. D. Glukhov
Institute of Scientific Information for Social Sciences of the Russian Academy of Sciences (INION RAN)
Russian Federation
Russian Federation
Ivan D. GLUKHOV, Research Fellow, Department of Interdisciplinary Studies
Nakhimovsky Avenue, 51/21, Moscow, 117418
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Review
For citations:
Glukhov I.D. Latin America’s Integration into BRICS: Challenges and Prospects. Outlines of global transformations: politics, economics, law. 2024;17(5):82-102. (In Russ.) https://doi.org/10.31249/kgt/2024.05.05
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