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      Conflicts, strategic divergences and the survival of economic groupings: Will China–India rivalry make BRICS obsolete?

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      Asian Journal of Comparative Politics
      SAGE Publications

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          Abstract

          This article probes the viability and survival of BRICS in the context of intensified China–India conflicts and strategic divergences. It argues that occasional eruptions of serious tensions in China–India relations, underpinned by their 1962 border war, threaten to make BRICS an ineffective or weak organization. The article shows that the threats to BRICS’s effectiveness as a new economic grouping originate from both countries’ strategies and counter-strategies to outperform and outbid each other in a number of critical geopolitical areas, most importantly South Asia, and the Indian Ocean Region. The absence of liberal institutional geoeconomic strategies in their bilateral relations to generate meaningful cooperation for mutual gains further exacerbates their conflicts, with clear implications for BRICS. The article discusses three policy implications for BRICS to function as an effective new economic grouping of the Global South—institutional reforms, a shift from geopolitical to liberal institutional geoeconomic strategy of cooperation, and a coordinated policy approach to global political and economic issues.

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          Most cited references41

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          Anarchy and the limits of cooperation: a realist critique of the newest liberal institutionalism

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            Sino-Capitalism: China's Reemergence and the International Political Economy

            There is little doubt that China's international reemergence represents one of the most significant events in modern history. As China's political economy gains in importance, its interactions with other major political economies will shape global values, institutions, and policies, thereby restructuring the international political economy. Drawing on theories and concepts in comparative capitalism, the author envisages China's reemergence as generating Sino-capitalism—a capitalist system that is already global in reach but one that differs from Anglo-American capitalism in important respects. Sino-capitalism relies more on informal business networks than legal codes and transparent rules. It also assigns the Chinese state a leading role in fostering and guiding capitalist accumulation. Sino-capitalism, ultimately, espouses less trust in free markets and more trust in unitary state rule and social norms of reciprocity, stability, and hierarchy. After conceptualizing Sino-capitalism's domestic political economy, the author uses the case of China's efforts to internationalize its currency, the yuan or renminbi, to systematically illustrate the multifarious manner in which the domestic logic of Sino-capitalism is expressed at the global level. Rather than presenting a deterministic argument concerning the future international role of China, he argues that China's stance and strategy in the international political economy hew quite closely to Sino-capitalism's hybrid compensatory institutional arrangements on the domestic level: state guidance; flexible and entrepreneurial networks; and global integration. Sino-capitalism therefore represents an emerging system of global capitalism centered on China that is producing a dynamic mix of mutual dependence, symbiosis, competition, and friction with the still dominant Anglo-American model of capitalism.
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              The Reconfiguration of the Global State–Capital Nexus

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                Author and article information

                Contributors
                (View ORCID Profile)
                Journal
                Asian Journal of Comparative Politics
                Asian Journal of Comparative Politics
                SAGE Publications
                2057-8911
                2057-892X
                December 2022
                July 11 2022
                December 2022
                : 7
                : 4
                : 1025-1044
                Affiliations
                [1 ]North South University, Bangladesh
                Article
                10.1177/20578911221108800
                283d2e50-5974-440d-a8f3-57f20c8accb2
                © 2022

                http://journals.sagepub.com/page/policies/text-and-data-mining-license

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