BRICS e o Novo Desenvolvimentismo: uma análise categorial de discurso da coalizão (2009-2025) e de seus indicadores macroeconômicos como uma estratégia para um novo modelo de desenvolvimento voltado para o Sul Global

Abstract

BRICS, a coalition comprising Brazil, Russia, India, China, and South Africa, is playing an increasingly

important role in the global economic system. In this context, this paper seeks to correlate the political- economic strategies of the BRICS and its institutions with the economic and political theory of New

Developmentalism, formulated by Latin American economists and political scientists. The methodology included a categorical content analysis of joint statements by BRICS leaders and trade ministers (2009- 2025), strategic documents from the New Development Bank (NDB), and an analysis of macroeconomic indicators (interest rates, exchange rates, profits, wages, and inflation) for the BRICS countries from 2013 to 2025, using IMF databases. Several motivations and developmental discourses were identified in the bloc's policies, although in an incipient form and subject to inconsistencies due to the bloc's socioeconomic diversity and the BRICS' strategy for action. A relation was observed between the theory of New Developmentalism and the BRICS strategy for economic and political reform of the international system, especially after the 2008 financial crisis Furthermore, it has been found that countries such as Brazil, Russia, South Africa, and India still have high interest rates, which negatively impact investments, exchange rates, and balance of payments, resulting in cyclical deficits, a legacy of neoliberal strategies for growth via foreign debt. However, the group recognizes the problems associated with deindustrialization and Dutch disease, seeking to mitigate their effects in a manner complementary to the existing system. There is a growing focus on the de-dollarization of the international financial system and the greater use of local currencies for loans and investments, a crucial point for New Developmentalism. It is concluded that the correlation between the New Developmentalism strategy and the internal practices of the BRICS countries is incipient, influenced by factors such as autonomy in exchange rate policy, power groups, and internal political systems. The bloc, with its non-binding initiatives and financial institutions, is an important actor that proposes viable development alternatives to the Bretton Woods institutions and drives reforms in the international financial system.