EVALUATING THE ROLE OF BRICS IN PROMOTING MULTIPOLARITY AND GLOBAL SOUTH COOPERATION

ABSTRACT vii This study evaluates the role of BRICS in promoting multi-polarity and global south cooperation. This became necessary due to the seeming unipolar structure and Western-dominated institution in the international system. BRICS nations (Brazil, Russia, India, China, and South Africa) have emerged as significant actors in global power dynamics, reshaping the international milieu. They have expressed a strong desire to participate in and act on global economic governance. Has the grouping been able to achieve its goals as it set out to do? To ascertain this, the study adopted descriptive research methods, power transition theoretical framework, focus group discussants for its primary data and content analysis of data. The findings among other things revealed that BRICS is promoting multi-polarity with over fifty countries as its members thus challenges traditional Western-dominated institutions while reducing dependency on Western financial institutions. BRICS have demonstrated economic credibility, with 19% of global exports and 16% of global imports in 2020. The study therefore recommended that BRCIS countries should cooperate to achieve economic development, fight protectionalism, strengthen cooperation in financial market and supervision for the benefit of the global south.