Global Governance and Norm Contestation

BRICS' continued great performance in realizing ambitious goals seems unstoppable! The group’s influence in terms of security governance and economy presenting self as a dealer of norms continue to portray BRICS as a key player in global politics. With two veto members at UNSC the block continues her efforts to reshape global order. Establishment of BRICS Bank push for reforms in World Bank & IMF are evidence that no matter diplomatic words they use BRICS’ agenda is to reconstruct the current order. The group has several treaties with many countries swapping currency bypassing use of dollar - a sign of her stance against dollar hegemony. Undoubtedly BRICS benefits from the current system which makes it a dilemma if they should broadly contest to replace it with their ‘ideal’ vision - thereby risking & losing benefits which enabled their rise so far or if they should strategically hedge as they push for reforms from within – thereby risking missing their primary objectives through socialization. Currently indicators are that the BRICS will continue within the current order pushing reforms from within but their success makes the future of the dollar & its hegemony uncertain.