ABSTRACT

One of the central features of BRICS is that, except for South Africa, its members symbolize VoC or “new varieties of capitalism” (Becker, 2013). In this group of emerging economies, Brazil represents the South American region, bringing together an important economic development with a vocation of regional leadership. Simultaneously, through joining BRICS, Brazil was projected from the region to the world as part of the emergent power of the Second World in the international political economy and in the new world order. Brazil – a non-nuclear regional power – used the soft power of its regional leadership as a means of balancing its power against Russia, China, and India, which in turn had difficulties to impose themselves as leaders in their own regions. However, these conditions, which characterized the presence of Brazil since the birth of BRICS, are no longer present: Brazil is now a weak segment and its position within BRICS is weakening it as an emerging power.