BRICS und der globale Süden: Eine neue geopolitische Ära?

The paper examines the potential for a unified BRICS currency to enhance economic stability and challenge the dominance of the US dollar and euro, while highlighting significant risks stemming from economic divergence and political mistrust. Using the Optimal Currency Areas (OCA) framework, it argues that the lack of fiscal integration and synchronised business cycles among member states poses a major barrier to implementation. The author recommends a phased approach to integration and the strengthening of institutional frameworks to mitigate these risks.

• The adoption of a unified BRICS currency could shift global financial power by challenging the current dominance of the US dollar and the euro, thereby increasing the influence of BRICS states in international economic policy and financial markets.
• According to the Optimal Currency Areas (OCA) theory, a unified currency is currently impractical for BRICS because the member nations lack fiscal integration, political coherence, and synchronised business cycles, and are hindered by distinct regulatory frameworks and geographical distances.
• Member states have diverging motivations for a common currency: Russia views it as a way to bypass Western sanctions and the dollar-centric system, China stands to gain the most but risks alienating others through excessive influence, India remains cautious to maintain monetary flexibility, and Brazil and South Africa could benefit from reduced exchange rate volatility.
• Significant economic divergence exists among the bloc, with China focused on industrialisation and exports, India on services and domestic consumption, and Russia and Brazil relying on commodity exports, which makes a uniform monetary policy difficult to implement.
• The implementation of a unified currency would require the creation of a central governing body similar to the European Central Bank to manage monetary policies, interest rates, and inflation objectives, as well as the harmonisation of fiscal policies and budgetary regulations.
• The transition to a single currency faces high logistical and financial costs, including the need to modernise financial infrastructure, issue new money, and provide public education, which could be particularly burdensome for economically disadvantaged populations.

APA

Gift, M. M. (2024). BRICS und der globale Süden: Eine neue geopolitische Ära? Africa Policy Research Institute. https://afripoli.org/de/brics-und-der-globale-sueden-geopolitische-aera-en

Chicago

Gift, Makgamatha Mpho. BRICS und der globale Süden: Eine neue geopolitische Ära? Africa Policy Research Institute, 2024. https://afripoli.org/de/brics-und-der-globale-sueden-geopolitische-aera-en.

Wikipedia

{{cite report |last1=Gift |first1=Makgamatha Mpho |title=BRICS und der globale Süden: Eine neue geopolitische Ära? |publisher=Africa Policy Research Institute |date=28 October 2024 |url=https://afripoli.org/de/brics-und-der-globale-sueden-geopolitische-aera-en |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{gift2024brics, author = {Gift, Makgamatha Mpho}, title = {{BRICS und der globale Süden: Eine neue geopolitische Ära?}}, institution = {Africa Policy Research Institute}, year = {2024}, month = oct, url = {https://afripoli.org/de/brics-und-der-globale-sueden-geopolitische-aera-en}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }