The New Development Bank: The first multilateral BRICS Bank has been established to create a tangible instrument for increasing economic cooperation between the BRICS nations while at the same time reflecting the close relations among them. What are the geopolitical implications the New Development Bank may have on the global economic order?
Author
Mauritsen, Martin Hartmann
Term
4. term
Publication year
2015
Submitted on
2015-05-29
Pages
49
Abstract
Dette speciale undersøger, hvorfor BRICS-landene etablerede den Nye Udviklingsbank (NDB), og hvad det kan betyde for den globale økonomiske orden. Udgangspunktet er BRICS-landenes utilfredshed med deres begrænsede indflydelse i eksisterende institutioner som IMF og Verdensbanken, som efter deres opfattelse ikke afspejler deres voksende økonomiske tyngde og befolkninger. Ved at oprette deres egen udviklingsbank søger de at styrke deres stemme og påvirke globale beslutninger. Specialet analyserer de mulige geopolitiske følger: ændrede magtforhold, en relativ svækkelse af USA’s og det bredere vestens økonomiske dominans samt mulige reformer i global styring. Analysen vurderer, hvordan NDB kan påvirke den nuværende globale økonomiske orden, og bruger teorier om tidligere ordener – særligt Bretton Woods-systemet – til at sætte forventningerne i perspektiv. Selvom fremtiden er usikker, konkluderer specialet, at NDB sandsynligvis vil få betydning for verdensøkonomien, men at de geopolitiske effekter vil vise sig gradvist, fordi institutionen stadig er ny.
This thesis examines why the BRICS countries created the New Development Bank (NDB) and what it may mean for the global economic order. It starts from the BRICS countries’ dissatisfaction with their limited influence in existing institutions such as the IMF and the World Bank, which in their view do not reflect their growing economic weight and populations. By establishing their own development bank, they seek to strengthen their voice and shape global decision-making. The thesis analyzes potential geopolitical effects: shifts in power relations, a relative weakening of U.S. and broader Western economic dominance, and possible reforms in global governance. It assesses how the NDB could affect the current global economic order and draws on theories of earlier orders—especially the Bretton Woods system—to frame expectations. While the future is uncertain, the thesis concludes that the NDB is likely to matter for the world economy, but its geopolitical effects will emerge gradually because the institution is still new.
[This abstract was generated with the help of AI]
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