Hennecke, Pe e
A icle
BRICS: O e powe ed o o e a ed?
Vie eljah eshe e zu A bei s- und Wi scha s o schung (VAW)
P o ided in Coope a ion wi h:
Ins i u A bei und Wi scha (IAW), Uni e si ä B emen / A bei nehme kamme B emen
Sugges ed Ci a ion: Hennecke, Pe e (2025) : BRICS: O e powe ed o o e a ed?, Vie eljah eshe e
zu A bei s- und Wi scha s o schung (VAW), ISSN 2942-1470, Duncke & Humblo , Be lin, Vol. 2,
Iss. 1, pp. 89-103,
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Duncke & Humblo · Be lin
BRICS: O e powe ed o O e a ed?
By Pe e Hennecke*
Summa y
In shee quan i y, he i e o iginal BRICS coun ies appea imp essi e. They accoun
o a subs an ial sha e o he wo ld’s popula ion, economy, ade and mus e la ge mili a -
ies. In Janua y 2024, BRICS gained e en mo e s eam, by admi ing ou new membe
s a es ha pa icipa ed in he mos ecen BRICS summi in Russia. Some Wes e n media
and poli icians eac ed ala med. In Sep embe 2024, Tu key applied o membe ship as
well. Bu can BRICS ully h ow i s weigh on he wo ld s age and o m he in ended
coun e weigh o Wes e n o ganiza ions? This pape sys ema ically iden i ies commonal-
i ies, con adic ions and con lic s o he BRICS s a es in di e en policy a eas o ul ima e-
ly de e mine whe he hey ha e su icien common in e es s o ac in unison. In essence,
he a ious con lic ing in e es s and in pa icula he in ense i al y be ween India and
China make i unlikely ha BRICS becomes mo e han a dialog pla o m o i s membe s
any ime soon.
Zusammen assung
Rein quan i a i wi ken die ün u sp ünglichen BRICS-S aa en beeind uckend. Sie
machen einen subs anziellen Teil de Wel be ölke ung, Wel wi scha und des Wel han-
dels aus und e ügen übe g oße Mili ä s. Im Janua 2024 gewann BRICS du ch die Au -
nahme on ie neuen Mi gliedss aa en, die auch am jüngs en BRICS-Gip el in Russland
eilnahmen, nochmals an Gewich . Einige wes liche Medien und Poli ike eagie en ala -
mie . Im Sep embe 2024 bean ag e auch die Tü kei die Mi gliedscha . Abe können
die BRICS-S aa en ih olles Po en ial au de Wel bühne en al en und das anges eb e
Gegengewich zu wes lichen O ganisa ionen bilden? Dieses Papie un e such sys ema-
isch Gemeinsamkei en, Wide sp üche und Kon lik e de BRICS-S aa en in e schiede-
nen Poli ikbe eichen, um le z endlich es zus ellen, ob sie übe aus eichend gemeinsame
In e essen e ügen, um geschlossen zu handeln. Im E gebnis e schein es au g und de
e schiedenen In e essenkon lik e und insbesonde e de in ensi en Ri ali ä zwischen In-
dien und China unwah scheinlich, dass BRICS in absehba e Zei meh als eine Dialog-
pla o m ü seine Mi gliede wi d.
* Pe e Hennecke, FOM Uni e si y o Applied Sciences, email: pe e .hennecke@ om.de
I would like o hank he anonymous e iewe o aking he ime and e o o e iew
he manusc ip . I since ely app ecia e all aluable commen s and sugges ions, which
helped me o imp o e he quali y o he manusc ip .
Vie eljah eshe e zu A bei s- und Wi scha s o schung 2 (2025) 1: 89 – 103
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90 Pe e Hennecke
Vie eljah eshe e zu A bei s- und Wi scha s o schung, 2 (2025) 1
JEL classi ica ion: F02, F15, F36, F40, F53, F55
Keywo ds: BRICS, geopoli ics, geoeconomics, in e na ional ade, ene gy, in e na ional
con lic s
1. In oduc ion
“Coun ies ha e no pe manen iends, only pe manen in e es s.”
(Lo d Palme s on)1
In shee quan i y, he o iginal BRICS coun ies B azil, Russia, India, China
(Peoples Republic) and Sou h A ica2 appea imp essi e. They combine o e
40pe cen o he wo ld’s popula ion (Musch e 2024a) and hei economies ac-
coun o abou a hi d o he wo ld’s GDP (pu chasing powe pa i y) (Musch e
2024b) and a ound a qua e o global expo s (A o a e al. 2024). Mili a ily,
hey include h ee o he op-5 coun ies o he Global Fi epowe Index (Global
Fi epowe 2024): China, India and Russia, which also belong o he exclusi e
club o nuclea -a med na ions. Fu he mo e, China and Russia a e pe manen
membe s o he UN Secu i y Council. Wi h he in i a ion o six addi ional
membe s in 2023, A gen ina, Egyp , E hiopia, I an, Saudi-A abia and he Uni -
ed A ab Emi a es (UAE) BRICS (since hen hey a e some imes e e ed o as
BRICS+) seems o gain e en mo e s eam. E en hough A gen ina declined and
Saudi A abia so a s ill ponde s i s accession, he o he ou joined in 2024
(S a is isches Bundesam 2024a) and pa icipa ed in he mos ecen BRICS
summi in Kazan, Russia. Some Wes e n media and poli icians aised he ala m
(see o example Losse 2024). To add insul o inju y, in Sep embe 2024 Tu key,
a NATO membe s a e e en applied o BRICS membe ship i sel (Tagesschau
2024). Bu can he 9membe s a es h ow hei ull weigh on he wo ld s age
and o m he in ended coun e weigh o Wes e n o ganiza ions such as he G7,
EU and NATO? This appea s ques ionable in ligh o con lic ing in e es s, i al-
ies and e en a med con lic s be ween i s membe s. Mo eo e , he ecen ex-
pansion mos likely made i e en ha de o ind common g ound as i added
mo e na ional in e es s in o he mix. The aim o his pape is o sys ema ically
iden i y he commonali ies, con adic ions and con lic s o he BRICS s a es in
di e en policy a eas and o ul ima ely de e mine whe he hey ha e su icien
common in e es s o ac in unison. The pape con ibu es o he exis ing li e a-
1 No h A lan ic T ea y O ganiza ion (2003).
2 His o ically, he ac onym BRIC was coined in he ea ly 2000s by Goldman Sachs’
chie economis o g oup p omising eme ging ma ke economies unde a ca chy name
and did no include Sou h A ica. The ac onym was hen adop ed by hese coun ies o
name hei o ganiza ion in 2009, Sou h A ica joined in 2010 (Jü en and Falkenbe g
2024).
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BRICS: O e powe ed o O e a ed? 91
Vie eljah eshe e zu A bei s- und Wi scha s o schung, 2 (2025) 1
u e by aking he mos ecen e en s, he BRICS enla gemen , he Oc obe 2024
BRICS summi in Kazan and Donald J. T ump’s e-elec ion in o accoun .
2. Policy A eas
In his sec ion, ou key policy a eas a e analyzed: ade, ene gy, inance as
well as con lic s, sphe es o in luence and a ms ade. These a e chosen based on
hei gene al impo ance in in e na ional ela ions as well as he ac , ha he
i s h ee o hem a e main opics o and ake up he mos space in he inal
decla a ion o he mos ecen BRICS summi held in Oc obe 2024 in Kazan
(BRICS 2024).
2.1 T ade
By compa ing he ela i e impo ance o ade lows o indi idual BRICS
coun ies wi h each o he as well as wi h Wes e n and Wes e n-aligned coun-
ies3, i is possible o de i e he powe balance wi hin BRICS, as hei mu ual
3 The e is no uni e sal de ini ion o he Wes e n wo ld in he li e a u e. Fo he pu -
pose o his pape , he Wes e n and closely aligned coun ies (hence o h simply e e ed
o as “ he Wes ”) a e de ined as he Uni ed S a es o Ame ica, Canada, he Uni ed King-
dom, all 27EU membe s a es, No way, Uk aine, Aus alia, New Zealand, Japan, Sou h
Ko ea and he Republic o China (Taiwan) despi e he ac ha some a e geog aphically
and/o cul u ally non-Wes e n and Taiwan is no ecognized as an independen coun y
by mos na ions and he e o e some imes e e ed o as Chinese Taipei.
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Figu e 1: In e nal and ex e nal ade o BRICS coun ies
inpe cen o espec i e ex-/impo s in 2022
Sou ce: Own igu e and calcula ions; Obse a o y o Economic Complexi y (OEC). No es: Da a on Russian-I ani-
an ade om 2021; excluding ade wi h special adminis a i e egions o China.
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92 Pe e Hennecke
Vie eljah eshe e zu A bei s- und Wi scha s o schung, 2 (2025) 1
dependencies on in a-BRICS ade and ade wi h he Wes a y and he e o e
he impo ance o good poli ical ela ions wi h Wes e n coun ies and ins i u-
ions in o de o a oid puni i e ade measu es. Figu e1 shows he pe cen age
o impo s and expo s o each coun y wi h i s ellow BRICS membe s a es as
well as wi h he Wes . Table 1 b eaks down he o e all BRICS-in e nal ade o
each membe s a e.
Analyzing he da a p o ides a he e ogeneous pic u e. Fo he big BRICS coun-
ies, Wes e n economies a e an equally o mo e impo an ading pa ne .
Mos no ably China conduc s mo e han hal o i s o al ade wi h he Wes ,
while i s ade wi h i s ellow BRICS membe s me ely accoun s o jus o e
10pe cen . India and B azil a e also mo e connec ed o he Wes han o BRICS,
howe e o a much lesse deg ee han China. Russia also aded mo e wi h he
Wes , howe e ha has shi ed signi ican ly owing o he sanc ions and edi ec-
ion o i s hyd oca bon expo s o China and India since Russia’s ull-scale in a-
sion o Uk aine (see also sec ion2.2) in Feb ua y 2022 ha is no ully isible in
2022 ade da a used in his s udy (Ve ma 2024).
Conce ning in a-BRICS ade, he da a p esen ed in Table1 shows ha his
is p ima ily comp ised o ade wi h China wi h he no able excep ion o India
despi e hei g ea economic size and a he close geog aphic p oximi y. This is
he esul o hei bi e geopoli ical i al y and open e i o ial con lic s (see
sec ions2.2 and 2.4) which is a majo obs acle o u he de elopmen o BRICS.
T ade be ween he o he membe s a es is e y limi ed, in pa icula ha o he
new membe s.
A majo con ibu o o why in a-BRICS ade does no exploi i s ull po en-
ial is he lack o a BRICS ee ade ag eemen . On he con a y, he BRICS
membe s a es a e pa o a pa chwo k o di e en ee ade a eas (FTA) in-
s ead. Russia is leading he Eu asian Economic Union (EEU), ha e en amoun s
o a single ma ke , in he pos -So ie sphe e encompassing A menia, Bela us,
Kazakhs an and Ky gyzs an. In 2019, a FTA be ween he EEU and I an wen in-
o o ce. Mo eo e , he EEU and Vie nam, wi h which China has ie ce e i o-
ial con lic s (Walke 2024), ha e a ee ade ag eemen as well (Wo ld T ade
O ganiza ion 2024). China is a membe s a e o he Regional Comp ehensi e
Economic Pa ne ship (RCEP) ounded in 2020, one o he wo ld’s la ges FTAs
be ween 15Asian and Paci ic na ions4, including Wes e n-aligned Aus alia, Ja-
pan, New Zealand and Sou h Ko ea. India, ha was pa o he RCEP nego ia-
ions un il 2019, ul ima ely decided no o join (Eu opean Pa liamen 2021).
Besides p o ec ionism, geopoli ical ensions wi h China also played a ole in In-
dia’s decision (Fo eign Policy 2020). Wi h he ongoing bo de dispu es and
g owing s a egic i al y (see sec ion2.4), joining an ag eemen ha would in-
4 Aus alia, B unei, Cambodia, China, Indonesia, Japan, Sou h Ko ea, Laos, Malaysia,
Myanma , New Zealand, he Philippines, Singapo e, Thailand and Vie nam.
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BRICS: O e powe ed o O e a ed? 93
Vie eljah eshe e zu A bei s- und Wi scha s o schung, 2 (2025) 1
c ease economic dependence on China was seen as po en ially de imen al o
India’s na ional in e es s (P iya and Ghosh 2020). B azil is pa o he Sou he n
Common Ma ke (MERCOSUR), a cus oms union and economic in eg a ion
ag eemen wi h A gen ina, Pa aguay and U uguay. India has a p e e en ial ea -
men ag eemen on ce ain p oduc s wi h MERCOSUR and Egyp a ull FTA.
Egyp is also a membe o he A ican Con inen al F ee T ade A ea, ha E hio-
pia has signed bu no a i ied ye , as well as he Pan A ab F ee T ade A ea in
which he UAE a e also pa icipa ing. India and he UAE also signed a FTA and
economic in eg a ion ag eemen in 2022 ha is scheduled o be ully imple-
men ed in 2031 (Wo ld T ade O ganiza ion 2024).
Tha pain s an o e all pic u e o g ea economic and ba gaining powe imbal-
ances wi hin BRICS. Mu ual dependence and in e es s a e no uni e sally
aligned. While China’s dominance in in a-BRICS ade and he ac ha i s
GDP su passes ha o all o he BRICS combined (S a is isches Bundesam
2024b), would make i he na u al leade , India ies o con ain Chinese in lu-
ence. Mo eo e , many coun ies, including China i sel , ha e a es ed in e es
no o an agonize hei impo an Wes e n ading pa ne s. This po en ially has
a mode a ing in luence on BRICS policies, no only conce ning ade. Howe e ,
he Wes e n sanc ions agains Russia and I an and he p o ec ionis measu es o
many Wes e n coun ies owa d China migh b ing a leas hese h ee na ions
close oge he . I he hype -p o ec ionis policy measu es such as high uni e sal
a i s agains all ade pa ne s including US allies, albei lowe ones, as p om-
Table 1
BRICS ade ma ix: bila e al expo s/impo s
in pe cen o o e all expo s/impo s in 2022
China India Russia S. A . B azil I an E hiopia Egyp UAE
China 3/1 2/5 1/1 2/4 < 0.5 < 0.5 1/< 0.5 2/2
India 3/15 1/6 2/1 2/1 < 0.5 < 0.5 1/< 0.5 7/7
Russia 21/39 8/1 < 0.5 2/1 < 0.5 < 0.5 1/< 0.5 2/1
S. A . 16/21 6/7 < 0.5 1/2 < 0.5 < 0.5 < 0.5 3/4
B azil 26/24 2/4 1/3 1/< 0.5 1/< 0.5 < 0.5 1/< 0.5 1/1
I an 36/28 4/6 1/3 < 0.5 1/13 < 0.5 < 0.5 3/19
E hiopia 4/24 2/8 < 0.5 1/< 0.5 < 0.5 < 0.5 < 0.5/4 17/6
Egyp 2/17 5/4 1/3 < 0.5 1/3 < 0.5 1/< 0.5 4/6
UAE 8/18 13/10 1/3 1/1 1/1 2/< 0.5 < 0.5 1/1
Sou ce: Own able and calcula ions; Obse a o y o Economic Complexi y (OEC). No es: Expo s: Rows: Coun y
o o igin, Columns: Coun y o des ina ion; Impo s: Rows: Coun y o des ina ion, Columns: Coun y o o igin;
Da a on Russian-I anian ade om 2021; excluding ade wi h special adminis a i e egions o China.
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94 Pe e Hennecke
Vie eljah eshe e zu A bei s- und Wi scha s o schung, 2 (2025) 1
ised by he e-elec ed T ump adminis a ion a e es ablished, he dependence o
BRICS membe s on Wes e n goodwill will diminish oge he wi h he cohesion
o he Wes i sel .
2.2 Ene gy
While he p e ious sec ion ocused on o e all ade, his b ie sec ion is ded-
ica ed o ene gy and he ade o his c i ical esou ce and o which ex en he
in e es s o BRICS membe s a es align in his ega d. While E hiopia gene a es
o e 90 and B azil almos 50pe cen o hei inal ene gy consump ion om e-
newable sou ces, o he BRICS coun ies a e p ima ily dependen on ossil uels
(S a is isches Bundesam 2024b). While Russia, I an and he UAE a e sel -su i-
cien p oduce s and expo e s o oil and na u al gas, he emaining coun ies
ely on impo s o mee hei domes ic demand. Fo ins ance, c ude oil, na u al
gas and coal accoun ed o 18 pe cen o China’s (O ganiza ion o Economic
Complexi y 2024a) and e en 36pe cen o India’s (O ganiza ion o Economic
Complexi y 2024b) 2022 o al impo alue.
On i s glance, his combina ion o hyd oca bon impo e and expo e
coun ies sounds like a pe ec ma ch. Howe e , his also leads o po en ial di -
e ences ega ding he p ice. I an and he UAE a e membe s o he OPEC ca el
(Russia o OPEC+) ha egula ly ies o s ee he wo ld ma ke p ice in i s a-
o . Since ossil uels a e in e na ionally aded commodi ies, selling below he
wo ld ma ke p ice o ellow BRICS membe s is economically una ac i e as i
would incu lowe e enues. Howe e , in he cases o he hea ily-sanc ioned
I an and Russia his a gumen holds no ully ue as hei access o he wo ld
ma ke s is es ic ed and Russia los many, pipeline-connec ed, Eu opean cus-
ome s as a consequence o i s wa agains Uk aine. China and India happily
s epped in bu only because Russia ag eed on conside able discoun s (Ins i u e
o Ene gy Resea ch 2023). China u he ies o ake ad an age o Russia’s si -
ua ion as i demands such a o able condi ions o na u al gas ansmi ed ia
he planned “Powe o Sibi ia II” pipeline, ha i migh no e en be buil a e
20 yea s o planning and nego ia ions (Eyssel 2024).
2.3 Finance
Al eady a i s ounding summi in 2009 he BRIC coun ies (Sou h A ica
joined in 2010) and in ligh o he hen aging global inancial c isis ha o igi-
na ed in he US, decla ed hei in en o es ablish an al e na i e o he US-Dolla
(USD) domina ed inancial sys em (de-dolla iza ion). Since hen, hey es ab-
lished he New De elopmen Bank (NDB) and he BRICS Con ingen Rese e
A angemen (CRA) as al e na i es o he Wes e n-lead Wo ld Bank and In e -
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BRICS: O e powe ed o O e a ed? 95
Vie eljah eshe e zu A bei s- und Wi scha s o schung, 2 (2025) 1
na ional Mone a y Fund (IMF) as well as a ious o he inancial coo dina ion
mechanisms os e ing he use o local cu encies and capi al ma ke s. Fu he -
mo e, hey a e wo king on a common sys em o e ail paymen s and ansac-
ions among membe s a es. E en be o e Russia’s ull scale in asion o Uk aine
China and Russia success ully educed hei eliance on he USD, cu ing USD
use in bila e al ade om o e 90% in 2015 o me ely 46% in 2020 (Liu and Pa-
pa 2022). As Russia is la gely cu o om he Wes e n-led in e na ional inan-
cial sys em since 2022, his end has e en become mo e p onounced, using he
Yuan and gold o pay o bila e al ade (Nikoladze and Bhusa i 2023). In June
2024, he Yuan accoun ed o 99.6pe cen o o eign exchange ansac ions in
Russia, g an ing he Chinese cu ency a de- ac o monopoly and making Mos-
cow elian on Beijing’s goodwill (Liu o a 2024).
Howe e , o he BRICS membe s a es, wi h he excep ion o he also hea ily
sanc ioned I an, migh no be so keen on di ching he g eenback. As China is
domina ing BRICS-in e nal ade (see sec ion 2.1), he Yuan is he ob ious
choice. Howe e , he Yuan lacks many o he unique ea u es o he USD. The
USD is a ee- loa ing and widely accep ed cu ency a ound he wo ld, i has a
compa a i ely s able alue as well as la ge and liquid asse ma ke s, ul illing all
h ee unc ions o money, i.e. medium o exchange, s o e o alue and uni o
accoun (Si ipu apu and Be man 2023). The Yuan on he o he hand is ba ely
accep ed ou side o China, is subjec o capi al con ols (Liu and Papa 2022) and
he Chinese cen al bank has a his o y o in e ening in he o ex ma ke o al e
he exchange a e in China’s a o (Se se 2024). Hence, eplacing he USD on a
la ge scale wi h he Yuan seems no o be in he bes in e es o mos membe
s a es, which explains why Sou h A ica and B azil a e no he mos ocal sup-
po e s o de-dolla iza ion bu ag along wi h inc eased “Yuaniza ion”. While
Russia has no choice, India is unwilling o u he inc ease he al eady s ong
Chinese in luence and become mo e dependen on he Yuan and he e o e Chi-
nese policy decisions. India a he p omo es he use o i s Rupee in bila e al
ade and ansac ions as ha is ee o cu ency and poli ical isks and inc eas-
es India’s own clou (Liu and Papa 2022). Likewise, a “Rupeeiza ion” seems
equally unaccep able o China and less a ac i e han “Yuaniza ion” o he e-
maining membe s a es.
C ea ing a supe -na ional (digi al) common ese e cu ency ins ead would
a oid he issue o a o ing one na ional cu ency and ipping he cu en powe
balance owa ds he issuing coun y. In ac , Russia and China p oposed a com-
mon cu ency on he ini ial BRIC summi in 2009. Fo Russia, i would nowa-
days mean loosening he eliance on Beijing, so i would likely con inue o sup-
po i . Bu on he lip side, ha would en ail ha China would be willing o gi e
up he powe i gained by “Yuaniza ion” since 2009. A common cu ency would
also es ic he abili y on membe s a es o unila e ally manipula e exchange
a es i hey deem ha necessa y. Mo eo e , India was opposed o a common
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96 Pe e Hennecke
Vie eljah eshe e zu A bei s- und Wi scha s o schung, 2 (2025) 1
cu ency om he beginning as i does no wan o sou i s good ela ions wi h
he Uni ed S a es by challenging he Dolla ’s sup emacy (Liu and Papa 2022).
Tha lea es only o con inue o ollow he unanimously ag eeable pa h o in-
c easing he use o na ional cu encies in in a-BRICS ade and in es men ,
which has been success ul so a and was ag eed upon by he new membe s a es
in he mos ecen BRICS summi in Russian Kazan (BRICS 2024). This alls
sho o a ull de-dolla iza ion bu i is limi ing BRICS eliance on and ulne a-
bili y o he USD none heless (Liu and Papa 2022). Howe e , his s a egy can
only go so a , as o many BRICS coun ies, mos no ably China i sel , Wes e n
coun ies emain e y impo an i no he mos impo an ading pa ne s (see
sec ion2.1) who ha e li le in e es in accep ing in e io cu encies o he USD
(Si ipu apu and Be man 2023). Mo eo e , China holds la ge USD cu ency e-
se es (Se se 2023). Success ully de h oning he USD would isk ha hese lose
in alue (G eene 2024).
Howe e , i he T ump adminis a ion makes good on i s isola ionis and in-
la iona y elec ion p omises o dolla -de alua ion (Lubin 2024), unde mining
cen al bank independence, high a i s, massi e ax cu s and mass depo a ions
o mig an s (McKibbin e al. 2024) while simul aneously aiming o e i alize
manu ac u ing5, he USD’s s a us as he in e na ional ese e cu ency is h ea -
ened om wi hin as wo o USD’s key ea u es s abili y and a la ge open ma ke
a e diminished. Mo eo e , Donald T ump also campaigned o he use o c yp-
ocu encies as an al e na i e o he Dolla (Obs eld 2024). On he o he hand,
i T umps’ plans o massi ely inc easing US oil and gas p oduc ion come o
ui ion, alling ene gy p ices migh alle ia e some o he in la iona y p essu e
c ea ed by o he policies (Daly 2024).
2.4 Con lic s, Sphe es o In luence and A ms T ade
E en hough BRICS la gely ocuses on economic policy issues, con lic s be-
ween BRICS membe s as well as wi h o among hi d pa ies g ea ly a ec eco-
nomic policy decisions and BRICS’ capaci y o ac in unison, as men ioned in
p e ious sec ions. The mos impo an o hese con lic s is ha be ween India
and China. One o he p ima y sou ces o ension lies in dispu ed bo de e-
gions along he Himalayas. A e India gained independence in 1947 and China
es ablished he People’s Republic o China in 1949, which annexed Tibe in
1951, bo h coun ies ied o de ine hei bo de s. Howe e , di e ing in e p e a-
ions o his o ical bounda ies and a lack o clea dema ca ion led o dispu es.
This culmina ed in he 1962 Sino-Indian Wa ha esul ed in a Chinese ic o y.
5 Depo ing millions o i egula mig an s means sh inking labo supply while suc-
cess ully inc easing manu ac u ing leads o inc eased labo demand. Bo h measu es lead
o inc easing wages ha will e en ually be passed on o consume s c ea ing in la ion.
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BRICS: O e powe ed o O e a ed? 103
Vie eljah eshe e zu A bei s- und Wi scha s o schung, 2 (2025) 1
Si ipu apu, A. and Be man, N. (2023): The Dolla : The Wo ld’s Rese e Cu ency,
h ps://www.c .o g/backg ounde /dolla -wo lds- ese e-cu ency ( e ie ed 04.12.
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S a is isches Bundesam (2024a): Allgemeine In o ma ionen zu BRICS, h ps://www.
des a is.de/DE/Themen/Laende -Regionen/In e na ionales/Thema/allgemeines- egio
nales/BRICS/BRICS_o e iew.h ml ( e ie ed 03.12.2024).
S a is isches Bundesam (2024b): BRICS in Zahlen, h ps://www.des a is.de/DE/Themen/
Laende -Regionen/In e na ionales/Thema/allgemeines- egionales/BRICS/BRICS.h ml
( e ie ed 03.12.2024).
Tagesschau (2024): Tü kei bean ag Au nahme in die BRICS-G uppe, h ps://www. a
gesschau.de/ausland/eu opa/ ue kei-b ics-mi gliedscha -100.h ml ( e ie ed 03.12.
2024).
T an, H. (2024): The unde es ima ed implica ions o he BRICS Summi in Russia,
h ps://www.a lan iccouncil.o g/blogs/econog aphics/ he-unde es ima ed-implica ions-
o - he-b ics-summi -in- ussia/ ( e ie ed 06.12.2024).
Uma o , T. (2024): Wha Does Xi Jinping Wan F om Cen al Asia?, h ps://ca negieen
dowmen .o g/pos s/2024/07/wha -does-xi-jinping-wan - om-cen al-asia?lang=en
( e ie ed 04.12.2024).
Ve ma, N. (2024): India su passes China o become Russia’s op oil buye in July, h ps://
www. eu e s.com/ma ke s/commodi ies/india-su passes-china-become- ussias- op-oil-
buye -july-2024-08-22/ ( e ie ed 03.12.2024).
Walke , T. (2024): China-Vie nam ensions la e up o e Sou h China Sea, h ps://www.
dw.com/en/china- ie nam- ensions- la e-up-o e -sou h-china-sea/a-69398016 ( e-
ie ed 03.12.2024).
Wezeman, P. D., Djokic, K., Geo ge, M., Hussain, Z., and Wezeman, S. T. (2024): T ends
in In e na ional A ms T ans e s, 2023, h ps://www.sip i.o g/si es/de aul / iles/2024-03/
s_2403_a _2023.pd ( e ie ed 04.12.2024).
Wo ld T ade O ganiza ion (2024): Regional T ade Ag eemen s Da abase, RTAs in Fo ce,
h ps:// ais.w o.o g/UI/PublicAllRTALis .aspx ( e ie ed 03.12.2024).
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