Comparative Analysis: BRICS and G20 in Global Governance

This report provides a comparative analysis of the BRICS and G20, two prominent groupings in global governance. It begins by outlining the establishment and current membership of each, highlighting the key countries involved. The report then delves into the level of institutionalization within each group, focusing on the New Development Bank for BRICS and the roles of institutions like the IMF and World Bank within the G20. Finally, it offers an evaluation of both entities, discussing their roles in trade, commerce, and international relations. The report draws on existing literature to support its comparisons and conclusions, providing a concise overview of the key differences and similarities between these influential global actors. The assignment also makes reference to the assignment brief which discusses rising powers.

Running head: BRICS VS G20
BRICS VS G20
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2BRICS VS G20
Table of Contents
Comparison of BRICS and G20:................................................................................................3
Part 1: Establishment and Current membership:....................................................................3
Part 2: Level of Institutionalization........................................................................................3
Part 3: Own evaluation:..........................................................................................................3
Bibliographies:...........................................................................................................................5

3BRICS VS G20
Comparison of BRICS and G20:
Part 1: Establishment and Current membership:
The BRICS is the short form of the major emerging countries which are Brazil,
Russia, India, China and South Africa and was formed in the year 2006. South Africa was
included in the year 2010 and before that the name of the organisation was BRIC.
The G20 is a group or an organisation for the governments or governors of the central
bank from the 19 countries and the European Union. The countries which are a part of G20
are, Argentina, Australia, India, china, Brazil, Canada, France, US, South Korea, Italy,
Germany, Indonesia, japan, Russia, South Africa, Turkey, UK, Saudi Arabia and Mexico.
Part 2: Level of Institutionalization
The BRICS which new than the G20 had in its 4th meeting established for the creation
of a bank. This bank was named as BRICS development bank, which was later changed to
New Development Bank. The member nations of BRICS have voting power which is equal to
the shares held by them.
Thus the institutions which is under the G20 are IMF, The World Bank and the
Bretton woods twins which all aim to formulate economic policy to boost coordination
among member countries.
Part 3: Own evaluation:
The BRICS is a constituent of major countries which are emerging and are involved
in formulating policies which are beneficial of trade and commerce among the member
countries. Thus the creation of the Bank was a part of the process to boost better trade
relation among the countries.

4BRICS VS G20
G20 is an association of countries which was formed after the World War 2 and the
reason for bringing coordination among the countries. Thus, the institutions and policies
which are made to boost the economic relation among the countries along with maintaining
peace at international level.

5BRICS VS G20
Bibliographies:
Cooper, A. F. (2017). Between Hub Status and Parallelism: Examining the G20-BRICS
Dynamics in Global Governance. International Organisation Research
Journal, 12(2).
Rezende, C. F., Pereira, V. S., & Penedo, A. S. T. (2019). Asset Pricing Model (CAPM) in
Emerging Markets: Evidence in BRICS nations and comparisons with other
G20. Future Studies Research Journal: Trends and Strategies, 11(2), 162-175.