Opportunities and Risk Assessment of BRICs New Development Bank*—— New Big Powers Coordination Perspective

Fan Xu (Institute of International Studies, University of International Business and Economics)

Abstract


Abstract:

Under the background of counter economic globalization, the group of twenty (G20) has become the primary platform for the east and west powers to seek consultation and dialogue. And the coordination mechanism of the new global powers has come into being slowly. As a multilateral regional bank, the BRICsBank takes the interests of developing countries as the leading factor. Based on international economic cooperation ground, it will broaden the South-South cooperation to create more convenient conditions for foreign direct investment, as well as bilateral and multilateral financial cooperation. The opportunities and risks analysis of the BRICsBank from new power coordination perspective, with global economy governance structure transformation as the starting point, this research accurately defines the concept of coordination mechanism, systematically analyzes the evolution of global economic governance structure, intensively interpretsthe current characteristics of big power coordination mode in global economic governance structure, and objective assessestrends of global political and economic pattern.It is of important policy referenceimplications for China to effectively promote the BRICs Bank institutionalization andglobal governance of new power coordination nature. 


Keywords


BRICs New Development Bank; G20 new big powers coordination; RMB internationalization; Opportunities and challenges

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DOI: https://doi.org/10.30564/mmpp.v1i1.741

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