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Patrick Bond speaks at 'Rising Powers' workshop, 12 September

The BRICS Bank and Shifts in Multilateral Finance:
A view from South Africa

By Patrick Bond
presented to the SouthGovNet conference panel: Institutions of South-South Cooperation Fudan University Institute of International Relations Shanghai, China, 12 September 2013

Institute of International Studies, Fudan University, China


Rising Powers and South-South Cooperation
The growing engagement with the developing world, not least through increased economic partnerships and the provision of developmental assistance, has been central to recent debate and study of the regional and global impact of the “Rising Powers”. Furthermore, the establishment of regional and global forums such as the BRICS and IBSA suggest the possibility of some institutional alternatives to the Washington Consensus and its development paradigm.

The aim of this workshop is to raise the following questions: what is the impact of the rising powers such as China and the other “BRICS” countries on global development more broadly and to what extent does the development assistance offered by rising powers challenge the conventional and neoliberal paradigm? Can the increased engagement of the rising powers with the rest of the developing world be regarded as a new form of South-South Cooperation, or are there new aspects of exploitation in these relationships? What kind of theoretical approaches and conceptual tools do we need to answer such questions? To what extent do new groupings such as BRICS and IBSA suggest an alternative to the geopolitical and geoeconomic dominance of the West and of the neoliberal paradigm? Are there any elements of continuity between contemporary South-South cooperation and previous forms of Third Worldism? What alternatives exist to contemporary forms of South-South cooperation?

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