Why we need a multilateralism that works and what is the role of the BRICS: lessons from the recent Covid-19 pandemic

Abstract

After the dramatic event which humanity has experienced, the Covid-19 pandemic, innumerable questions arise concerning the future of the international system. The pandemic highlighted many contradictions within this system: first of all, the logic of divisions covered by the dichotomy “the West and the rest” has proved to be obsolete as it often generated conflicting positions on the issues that concern the whole humanity, such as the distribution of vaccines. It has also demonstrated the need to seek out ways to improve cooperation and design effective multilateral policies, especially given the other global challenges, many of which will require swift action: we primarily refer to the climate change and, more generally, to the reform of global governance (GG) towards a more democratic system. In this context, the role of the BRICS is fundamental for several reasons. First, the BRICS have repeatedly demanded greater democratization of GG, and their actions seem to be aimed at creating more inclusive decision-making processes in international forums, such as the United Nations and the G20. Furthermore, the BRICS are a group of countries fighting for greater multilateralism, especially at the financial level. Finally, owing to their economic and political weight and the size of the population, the BRICS countries are crucial for building the foundations of the future, more inclusive, international relations as they may guarantee the multilateral character of the reformed GG. As a group, they represent a sustainable partnership that has great potential for laying the foundations of a different type of global architecture. In this paper we discuss the strategic role that the BRICS could play in the future of multilateralism despite the existing limitations. We do this through the lens of the global development theory that shows the importance of sharing common practices and narratives and overcoming divergences between the global North and South, especially in a post-Covid perspective.

Does BRICS present multilateral bifurcation as an alternative to the West during the pandemic and global inflation crisis era?

“…We can say, therefore, that the implementation of the BRICS policies represents the effort to return to equilibrium of the bifurcation theory. The establishment of the NDB had been conceived as an alternative, not a threat to Bretton Woods institutions (Petrone, 2020). The initial equal capital (Rinaldi, 2018) and the goal of creating more equal institutions have opened a different way for international financial institutions and the global system as a whole (Petrone, 2020).…”

“…Despite unequal financial capabilities of BRICS countries, the main aim was to overcome the consequences of the pandemic through cooperation in health care and social welfare. They established an Emergency Assistance Facility to speed up the bureaucracy and adopt fast-track tools (Petrone, 2020). Firstly, they provided loans to member states of the NDB to tackle Covid-19 and criticized complicated and slow mechanism of institutions that were to function immediately in a situation of global importance (Gross, 2020).…”

“…Firstly, they provided loans to member states of the NDB to tackle Covid-19 and criticized complicated and slow mechanism of institutions that were to function immediately in a situation of global importance (Gross, 2020). On the other hand, as a result of the pandemic, a debate has emerged among European countries based on the European Stability Mechanism which exacerbated the fragility of the EU and determined their response to the situation (Petrone, 2020).…”

“…At the beginning of the outbreak, 10 billion US$ was allocated to help with the consequences of the outbreak and to contribute to the process of fighting with the Covid-19. On the other hand, the cooperative behavior of the member states has proven a reiteration of unity and consolidated their cooperation to jointly establish a stable global financial situation (Petrone, 2020).…”