The Significance of the IBSA (India-Brazil-South Africa) alliance for the Global Political Economy

Abstract

The IBSA (The India-Brazil-South Africa) alliance was initiated to be the symbolic representation of a new world order led by three prominent and emerging nations of the Global South, namely: India, Brazil and South Africa. An alliance such as IBSA that connects these three geopolitically strategic nations and provides a platform for them to share their economic skills, exchange information, develop resources and collaborate on political agendas has profound implications both for the participating states as well as the rest of the world. Furthermore, as a key institution of the International System, IBSA's formation, functioning and performance are determining factors of the potential of Global South to South Cooperation.

The shifting Global Political Economy dynamics of the 21st century necessitate a more focused understanding of the politics and economics of the countries of the Global South. This thesis aims to expand on the current academic knowledge of IBSA and to contribute to the debate regarding the scope and potential of international institutions, particularly of those institutions that are focused on the Global South. In order to facilitate the same, this thesis conducts first, an analysis of foundational international relations concepts aimed at developing a theoretical model explaining the origins, formations and functioning of the IBSA alliance from an international affairs perspective. Followed by, an analysis of the foreign policy convergence of these three countries, aimed at understanding the combined potential of the IBSA states in achieving development through mutual cooperation, facilitating regional leadership, reforming international institutions and reshaping global norms.