Chinese BRICS: Contamination of US-led Neoliberalism

Abstract

This research explores the dynamics between China's leadership within BRICS (Brazil, Russia, India, China, and South Africa) and US-led neoliberalism, examining how China's strategies align with or challenge neoliberal orthodoxy. It outlines the historical evolution of BRICS and China's economic and political influence while discussing neoliberalism's principles market liberalization, deregulation, and privatization—and their global impact. Using Marxist and post-colonial theories, the study deconstructs neoliberal ideological influences within BRICS, supported by case studies like the New Development Bank. The findings reveal China's dominant position within BRICS and its strategic actions that both conform to and contest neoliberal principles. The case studies highlight the complexities within BRICS initiatives and China's efforts to promote an alternative economic model aligned with the Global South's aspirations. The study recommends strengthening collective economic strategies among BRICS, enhancing geopolitical cohesion, and advancing development projects to challenge neoliberal power structures and foster a more equitable global economic order.