BRICS und der globale Süden: Eine neue geopolitische Ära?

This research paper examines the feasibility, potential benefits, and risks associated with the adoption of a unified currency among the BRICS nations (Brazil, Russia, India, China, and South Africa). It analyzes the proposal through the lens of Optimal Currency Areas (OCA) theory, highlighting the tension between the desire for reduced dollar-dependency and the reality of significant economic and political divergence among member states.

• The BRICS nations collectively represent more than 40% of the global population and nearly 24% of the global GDP.
• A unified BRICS currency aims to enhance economic stability, streamline trade and investment, and reduce reliance on the US dollar and the euro, potentially shifting global financial power away from traditional centers like the US and EU.
• According to Optimal Currency Areas (OCA) theory, a unified currency is currently impractical for BRICS due to a lack of fiscal integration, political coherence, and synchronicity in economic cycles, as well as constraints on the free movement of labor and capital caused by geographical distances and regulatory differences.
• Member states have diverging motivations and risks: Russia views a common currency as a way to bypass Western sanctions; 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 volatility but face inflationary risks.
• Implementation of a single currency would require the creation of a central governing body similar to the European Central Bank to synchronize monetary policies, including uniform interest rates and inflation objectives, alongside integrated fiscal policies and budgetary regulations.
• Significant risks include economic divergence—where differing structures (e.g., China's export-led economy vs. India's service-led economy) lead to imbalances—and high transition costs related to modernizing financial infrastructure and issuing new currency.
• The paper recommends a phased approach to integration, starting with collaboration on financial regulation and exchange rate stability to build trust before moving toward a unified currency.

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} }