Regimes, Neo-Regionalism and BRICS: A Conceptual Perspective of the Study

Abstract

This paper tries to revive the debate on ‘new regionalism’, focusing on the evaluating regional trade agreements (RTAs). Paper also finds that much analytical description using tools from old trade theory in the Viner-Meade tradition, focusing on trade creation, trade diversion and terms-of-trade effects. These tools try to look BRICS in new contemporary scenario. Among the international regimes, BRICS (Brazil, Russia, India, China and South Africa) grouping emerging as the new Centre of power factors in global politics. The five countries created an international regime whose members cooperate in the view of acquiring, collectively and individually, increased influence in international financial and economic institution among the RTAs regimes.