Читать книгу The Political Economy of the BRICS Countries - Группа авторов - Страница 29

Having described the genesis and establishment of the BRICS block, this chapter has tried to gauge different elements of heterogeneity. Such heterogeneity exists in terms of different matrices, such as size of the economy, operation and state of monetary and fiscal policies, exchange rate flexibility, and quantum of foreign exchange reserves. The presence of such heterogeneity is accentuated by the presence of China whose size tends to overshadow all other economies in the block. Perhaps the effective emergence of the BRICS block purely in terms of economic multilateralism without any binding force of history, politics, or shared identity is difficult.¹¹ On the contrary, the presence of complex political issues among the three major partners of the block (viz., China, Russia, and India) could have made the BRICS block suffer from blue baby syndrome, thus bringing into question its healthy existence (if not the longevity).