3. Defining emerging powers and BRIC - Amitav -BB (1).pptx

Foreign Policy of Emerging Powers: POL 336 Week 3: Defining Emerging Powers The End of the American World Order Amitav Acharya “Emerging Powers: The Hype of the Rest?” Dr. Ornanong Husna Benbourenane Professor of Practice CHSS, Zayed University China President Xi Jinping Flag: red with a larg...

Foreign Policy of Emerging Powers: POL 336 Week 3: Defining Emerging Powers The End of the American World Order Amitav Acharya “Emerging Powers: The Hype of the Rest?” Dr. Ornanong Husna Benbourenane Professor of Practice CHSS, Zayed University China President Xi Jinping Flag: red with a large yellow five-pointed star and four smaller yellow five-pointed stars (arranged in a vertical arc toward the middle of the flag) in the upper hoist-side corner; the color red represents revolution, while the stars symbolize the four social classes – the working class, the peasantry, the urban petty bourgeoisie, and the national bourgeoisie (capitalists) – united under the Communist Party of China INDIA PM Narendra Modi •The Flag: three equal horizontal bands of saffron (subdued orange) (top), white, and green, with a blue chakra (24-spoked wheel) centered in the white band; saffron represents courage, sacrifice, and the spirit of renunciation; white signifies purity and truth; green stands for faith and fertility; the blue chakra symbolizes the wheel of life in movement and death in stagnation •note: similar to the flag of Niger, which has a small orange disk centered in the white band Russia President Vladimir Putin •Flag: three equal horizontal bands of white (top), blue, and red •note: the colors may have been based on those of the Dutch flag; despite many popular interpretations, there is no official meaning assigned to the colors of the Russian flag; this flag inspired several other Slav countries to adopt horizontal tricolors of the same colors but in different arrangements, and so red, blue, and white became the Pan-Slav colors Brazil President Jair Bolsonaro Flag: green with a large yellow diamond in the center bearing a blue celestial globe with 27 white five-pointed stars; the globe has a white equatorial band with the motto ORDEM E PROGRESSO (Order and Progress); the current flag was inspired by the banner of the former Empire of Brazil (1822-1889); on the imperial flag, the green represented the House of Braganza of Pedro I, the first Emperor of Brazil, while the yellow stood for the Habsburg Family of his wife; on the modern flag the green represents the forests of the country and the yellow rhombus its mineral wealth (the diamond shape roughly mirrors that of the country); the blue circle and stars, which replaced the coat of arms of the original flag, depict the sky over Rio de Janeiro on the morning of 15 November 1889 – the day the Republic of Brazil was . . . From G5 to G 20 https://www.visualcapitalist.com/cp/animated-chart-g7vs-brics-by-gdp-ppp/ . https://rosstat.gov.ru/storage/mediabank/BRICS %20Joint%20Statistical%20Publication-2022.pdf For the year 2013, China for the first time surpassed $4 trillion of world trade and become as world's largest trading country, consist of: export $2.21 trillion and import $1.95 trillion. China https://mgmresearch.com/china-vs-united-s tates-a-gdp-comparison/ . Useful websites – country profile • https://www.imf.org/en/countries#C IMF country information • https://www.imf.org/external/datamapper/profile IMP economic profile • https://www.wto.org/english/res_e/booksp_e/trade_profiles19_e.pdf WTO trade profile The End of American World Order The End of the American World Order Emerging Powers :The Hype of the Rest? • Amitav Acharya The term: Emerging powers The popularity of the idea of emerging/ rising powers through the term “BRIC” – Brazil, Russia, India, and China. Coined by a Goldman Sachs analyst in 2001, not to describe their power in the global order but to describe the potential of the “emerging market economies” in relation to their investors. For the most part, membership is based on traditional power index or material capabilities, primarily economic but also military, as well as the relative size and population of nations. Each BRICS member is a significant military power, especially relative to its neighbors. The new global power elite • Two main candidates are vying for the status of being the most important member of the new global power elite, the BRICS and the G-20. • A turning point in their role in global reordering came with the outbreak of the global financial crisis in 2008. • These states played a major role in fashioning the global response to the crisis, which created opportunities for them to shape the debate over the future of global governance and world order. G-20 • Established in 1999, the G-20 represents 80 percent of the world’s population, 90 percent of the world’s GDP, 90 percent of the world’s finance, and 80 percent of the world’s trade. • It is credited with “implementing the largest coordinated macroeconomic stimulus in history, which has successfully arrested a potentially deep global recession.” • Largely because of its success in arresting the financial crisis, this institution has described itself (at its Pittsburg Summit in September 2009) as the “world’s premier forum for international economic cooperation.” The new global elite’s clubs • A new global elitism through ‘Club,’ such as BRICS, G20. • Questions remain as to the effectiveness and legitimacy of the G-20 in the whole new architecture of global order. • Can the group’s contribution to the long-term health of the global economic system remains questionable? Emerging powers’ limitations in reshaping the global order The limitations include: • The club members lack sufficient cohesion to make the most of the opportunity presented by the global power shift. • Their role in creating new global governance principles/ rules is hindered by a continuing emphasis on traditional norms of state sovereignty. Emerging powers’ s in reshaping the global order The prospects: • Despite their limitations, the emerging powers do challenge the existing inequities in an international order hitherto dominated by the West. • They also introduce a healthy diversity of cultural and intellectual traditions to an international system that has previously been derived mostly from the Western political and intellectual traditions (such as the Greco-Roman and the Enlightenment). • It is unlikely that they would passively acquiesce to Western dominance of global rule-making and order-building in the twenty-first century or that they would be co-opted into the existing liberal hegemonic order led by the US without substantial concessions. • At the same time, the emerging powers are not an adequate force by themselves to create a credible alternative. Comparing China and the US • https://mgmresearch.com/china-vs-united-states-a-gdp-co mparison/ • GDP nominal VS GDP PPP • http://statisticstimes.com/economy/gdp-nominal-vs-gdp-pp p.php • GNI-World Bank-2018 • https://databank.worldbank.org/data/download/GNI.pdf • https://data.oecd.org/trade/trade-in-goods.htm Intl trade • https://www.imf.org/external/datamapper/NGDPD@WEO/ OEMDC/ADVEC/WEOWORLD GDP • https://www.imf.org/external/datamapper/NGDP_RPCH@ WEO/OEMDC/ADVEC/WEOWORLD Real GDP Growth • BRICS = BRIC + South Africa • Basic = Brazil, South Africa, India, China (2010) • BRICSAM = BRIC + South Africa + Mexico • Key point reference: membership in G-20 Deciding a membershi p in ‘clubs’ • The Group of Twenty (G20) is the premier forum for its members’ international economic cooperation and decision-making. Its membership comprises 19 countries plus the European Union. Each G20 president invites several guest countries each year. • Who are in the 20? GNI-World Bank-2018 • https://databank.worldbank.org/data/download/G NI.pdf • http://g20.org.tr/about-g20/ https://www.theguardian.com/environment/2010/jan/12/c openhagen-climate-change The last word https://www.youtube.com/watch?v=Ojr-tqaQQOQ America's Fundamental Misunderstanding of China | Kishore Mahbubani • Long Now Foundation • Published on May 10, 2018 • Singaporean diplomat Kishore Mahbubani believes that while the political freedoms in China haven't increased, the personal freedoms of the Chinese people have. From Kishore Mahbubani's Long Now Seminar “Has the West Lost it? Can Asia Save It?”: http://longnow.org/seminars/02018/apr... .