The BRICs, US ‘Decline' and Global Transformations

The author examines the rise of the BRICs and the supposed decline of the United States. Focusing on the boom years from 1992 to 2007, and the crisis years after 2008, he argues that there are limits to the rise of the former and that the extent of US decline has been greatly exaggerated, and that there are therefore good reasons to question the view that there has been an international transformation. The book particularly focuses on how the boom years facilitated the rise of the BRICs, and how this reinforced US power, and that recovery in the global South after the financial crisis is now running out of steam. While this might be a problem for the United States, it is a problem for BRIC countries as well. Perhaps the most important development in the international order in recent years is actually the rise in global inequality.

Ray Kiely is Professor of Politics at Queen Mary University of London, UK. He is the author of seven previous books including Rethinking Imperialism (2010), The Clash of Globalisations (2005) and Industrialization and Development (1998).

1. Introduction
2. The Rise Of The South? Rising Brics, Declining US?
Developmental Change And Transformation Through Convergence
Geopolitical Change And Transformation
Rising South, Declining West?: Competing Perspectives
Conclusions: Issues For Further Consideration
3. The Brics, State Capitalism And Globalisation: Challenge To Or Triumph Of The West?
Triumph Of The West? The South And The Opportunities Of Globalisation
Challenge To The West? State Capitalism, The China Model And The Beijing Consensus
States And Markets In The Development Of The Brics
States, Markets And The Question Of Neoliberalism
Conclusion
4. The Brics, The South And The International Economy, 1992-2007
Globalisation And The Emerging Markets Boom Of The 1990s
Convergence At Last?: The Boom From 2002 To 2007
The Limits Of Convergence, 1992 To 2007
Conclusion
5. The South And The Causes And Consequences Of The Financial Crisis, 2007-14
The Immediate Causes Of The Global Financial Crisis 2008
From Boom To Bust: The International Origins Of The Crisis
The Consequences Of The Crisis: The Transformation Of The International Order?
Conclusion: Inequality And The Crisis In The US As A Global Crisis
6. Global Inequality And The Rise Of The South
The Question Of International Inequality
Inequality And Poverty Within Countries
Global Inequality Manifested: The Food Crisis And The International Division Of Labour
Conclusion
7. The South And Geopolitics: From Bandung To The BRICS?
The Third World And The South After 1945
The New South
Transforming International Order?
Conclusion
8. Conclusion: Development, Innovation And The Limits Of International Transformation
The Rise Of The South And Development Theory
The Rise Of The South And Technological Innovation
The Limits Of International Transformation