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Stephan Keukeleire and Tom De Bruyn

This chapter examines how the European Union is challenged by the BRICS (Brazil, Russia, India, China, and South Africa) and other emerging powers, along with its implications for the world order. It first provides an overview of the nature of the BRICS phenomenon before discussing the EU's contractual and political relations, as well as ‘strategic partnership’, with the BRICS countries and other emerging powers. It then considers the EU–BRICS relationship on the basis of three key perspectives: the EU as a subsystem of international relations, the EU as a power in international relations, and the EU as part of the wider processes of international relations. In particular, it explores the EU's capacity to generate external collective action towards the BRICS countries and other emerging powers. It also analyses EU–BRICS relations within the context of shifts in multilateralism and in the global governance architecture.

Chapter

Nicola Phillips

This chapter introduces the field of International Political Economy (IPE), the themes and insights of which are reflected in the Global Political Economy (GPE), and what it offers in the study of contemporary globalization. It begins with three framing questions: How should we think about power in the contemporary global political economy? How does IPE help us to understand what drives globalization? What does IPE tell us about who wins and who loses from globalization? The chapter proceeds by discussing various approaches to IPE and the consequences of globalization, focusing on IPE debates about inequality, labour exploitation, and global migration. Two case studies are presented, one dealing with the BRICs and the rise of China, and the other with slavery and forced labour in global production. There is also an Opposing Opinions box that asks whether national states are irrelevant in an era of economic globalization.

Chapter

This chapter examines the global order, led by the United States, that emerged at the end of the cold war and asks whether it has been effectively challenged by rising powers. It begins with a discussion of the challenges to the idea of a U.S.-dominated global order, focusing in particular on the role of large, emerging developing countries as well as the idea of the BRICS (Brazil, Russia, India, China, and South Africa) in the context of the future of the global economy. The chapter then considers the more recent economic slowdown in the emerging world, along with the political and social challenges facing many emerging societies. It also analyses some of the major theoretical arguments about the impact of rising powers on international relations and whether they are powerful enough to affect international order.