The early twenty-first century has seen the beginning of a considerable shift in the global balance of power. Major international governance challenges can no longer be addressed without the ongoing co-operation of the large countries of the global South. Brazil, Russia, India, China, South Africa, ASEAN states, and Mexico wield great influence in the macro-economic foundations upon which rest the global political economy and institutional architecture. It remains to be seen how the size of the emerging powers translates into the ability to shape the international system to their own will. In this book, leading international relations experts examine the positions and roles of key emerging countries in the potential transformation of the G8 and the prospects for their deeper engagement in international governance. The essays consider a number of overlapping perspectives on the G8 Heiligendamm Process, a co-operation agreement that originated from the 2007 summit, and offer an in-depth look at the challenges and promises presented by the rise of the emerging powers. Co-published with the Centre for International Governance Innovation

This book is a critique of claims regarding how emerging economies are supposedly rewriting the rules of global governance and ushering in alternative models to neoliberal orthodoxy. It argues that such assumptions are abstractions that ignore both the transnationalizing nature of the global political economy and the actual policy goals of the ruling classes within most emerging economies. Considering the larger issues behind the emerging economies (or powers) debate, the book deploys an adapted global capitalism perspective with insights from Gramsci, Poulantzas and Cox, to argue that the transnational nature of the global political economy and the actual policy goals of the dominant elites within most emerging economies merge to undermine any transformative element. Far from challenging the global order, these ostensible new rivals in fact seek to integrate their economies more and more within the existing liberal global economy. Inter-state dynamics and even inter-elite tensions exist and it is clear that the nation state has not simply become a transmission belt for global capital, but equally we must move beyond the surface phenomena that are most visible in global tensions to get at the underlying essence of social and class forces in the global political economy. Looking at the largest emerging powers, such as Brazil, Russia, India and China, Taylor explains why the emerging powers’ elites, although essentially subscribing to neoliberalism (in all its variegated forms) may confront the core in a myriad of ways, but that these are not challenges to the ongoing world order and, in fact, the so-called emerging powers serve a legitimizing function for the extant global system. The book will be of great use to graduates and scholars of International Relations, Global/International Political Economy and International Development.

The rise of large and rapidly growing nations is having a significant impact on the global order, as their expanding influence reshapes the structure of power in the international system. These emerging powers are increasingly asserting themselves as major actors on the global scene. Leading this cadre of emerging powers are five nations referred to as the BRICS – Brazil, Russia, India, China and South Africa. This book takes inventory of both the individual and collective soft power of this rising bloc of nations. Having embraced the potential of this newly emphasized type of power as a means of generating international influence, these nations have dedicated substantial effort and resources to implementing a soft power offensive. This book was originally published as a special issue of the Journal of Political Power.

This volume contributes to the growing debate surrounding the impact that the rising powers may or may not be having on contemporary global political and economic governance. Through studies of Brazil, India, China, and other important developing countries within their respective regions such as Turkey and South Africa, we raise the question of the extent to which the challenge posed by the rising powers to global governance is likely to lead to an increase in democracy and social justice for the majority of the world’s peoples. By addressing such questions, the volume explicitly seeks to raise the broader normative question of the implications of this emergent redistribution of economic and political power for the sustainability and legitimacy of the emerging 21st century system of global political and economic governance. Questions of democracy, legitimacy, and social justice are largely ignored or under-emphasised in many existing studies, and the aim of this collection of papers is to show that serious consideration of such questions provides important insights into the sustainability of the emerging global political economy and new forms of global governance. This book was published as a special issue of Third World Quarterly.

This book explains the rise of China, India, and Brazil in the international trading system, and the implications for trade law.

A Brookings Institution Press and Centre for International Governance Innovation publication The global order is shifting. Even though no major war has intervened to reshape the architecture of the international order, the global financial crisis has accentuated the emergence of an enlarged global leadership. It is clear that change is afoot. The United States may be hanging on as the world's leading power, as the European Union remains an independent force in global politics, but a host of rising states—including China, India, and Brazil—clamor to be heard and take on bigger roles in world forums. Rising States, Rising Institutions features a panel of distinguished scholars who examine the forces at work: Gregory Chin (York University), Daniel W. Drezner(Tufts University), Thomas Hale (Princeton University), Andrew Hurrell (Oxford University), G. John Ikenberry (Princeton University), John Kirton (University of Toronto), Flynt Leverett (New America Foundation), Steven E. Miller (Harvard University), Andrew Moravcsik (Princeton University), Amrita Narlikar (Cambridge University), and Anne-Marie Slaughter (U.S. State Department). Together they analyze different models of international cooperation, the states that have most actively challenged the existing order, and leading and emergent international institutions such as the G-20, the nascent regime for sovereign wealth funds, the International Atomic Energy Agency, and the entities organized to foster cooperation in the war on terror.

The governance structure in global bodies like the IMF continues to be disproportionally dominated by advanced economies. Sustained rapid growth in emerging and developing economies (EDEs) in the past 2-3 decades has led to their growing relative weight in the global economy, but with little increase in their voice in the IMF. The emergence of regional financial arrangements reflects the growing dissatisfaction of the EDEs with the current framework. The global economy is on the cusp of an epochal change moving the fulcrum of economic power from the North Atlantic towards Asia after more than 200 years. This must be recognized and responded to adequately.