“BRICS Plus”: A New Global Economic Paradigm in the Making?
Journal: Modern Economy
Year: 2023

In 2023, the global economy is going through a number of challenges. The imposition of sanctions on Russia, as a result of the Ukraine-Russia conflict, has unleashed and fostered a new globalization cycle and paradigm, with important implications for global business. This paper explores one of the consequences of this new globalization paradigm that is unfolding—the expansion of the BRIC group, “BRIC Plus”, and its challenges and opportunities. The increasing fragmentation of the established glo