Resource powers? Minerals, energy and the rise of the BRICS

The rise of new economic powers has seen increasing attention focused on the international role of the BRICS countries. Importantly, a common feature uniting the BRICS is that they are all resource-rich, and many analysts (and some BRICS governments) have argued that natural resources are one of the...

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Bibliographic Details
Published inThird world quarterly Vol. 36; no. 2; pp. 223 - 239
Main Author Wilson, Jeffrey D.
Format Journal Article
LanguageEnglish
Published London Routledge 01.02.2015
Routledge Journals
Taylor & Francis Ltd
Subjects
BRICS
Economic development
Energy
Energy policy
Foreign policy
Government
International relations
Minerals
Natural resources
Political power
resource nationalism
resource politics
Brazil
South Africa
China
Russia
India
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Summary:The rise of new economic powers has seen increasing attention focused on the international role of the BRICS countries. Importantly, a common feature uniting the BRICS is that they are all resource-rich, and many analysts (and some BRICS governments) have argued that natural resources are one of the key factors propelling the rise of the group. This article explores the BRICS' emerging status as 'resource powers', examining how resource wealth underpins their economic development and foreign policy strategies, and thus contributes to their growing influence in international affairs. It is argued that through the use of nationalistic mining and energy policies, the BRICS governments have exploited natural resources for both domestic economic and international diplomatic objectives. However, there are several challenges and emerging risks facing the BRICS' resource strategies, which mean that resource wealth is making a positive - though inherently limited - contribution to the growing international status of the group.
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ISSN:0143-6597
1360-2241
DOI:10.1080/01436597.2015.1013318