BRICS as an Alternative to Western Dominance in Global Government

The emergence of BRICS in the structure of the global order is a new dynamic that challenges the dominance of the West. BRICS was born in the midst of slowing economic growth in the G-8 countries. The purpose of this study is to analyse the role of BRICS cooperation initiatives in influencing Western dominance of the international order by providing insights into BRICS efforts to reduce dependence on the dollar and exploring the impact of these efforts on global financial markets in terms of increased use of local currencies in trade. The increasingly influential emergence of BRICS in the structure of the global order is analysed using hegemony theory and balance of power theory as analytical frameworks. These theories underline the idea that the influence of emerging hegemons becomes a counterbalancing alternative to existing dominance, leading to multipolarity in the global order. This study provides valuable insights into the role and influence of the emergence of new hegemon candidates in the context of global economic governance. The author adopts a qualitative research approach using secondary data sources. The research findings show that BRICS has the potential to become a new hegemon capable of balancing Western dominance. However, there are several challenges that need to be addressed.