This chapter evaluates multiple dimensions of the global power shift from the incumbent G5/G7 powers to the rising powers, especially the members of the BRICS (Brazil, Russia, India, China, and South Africa). Taking note of alternative conceptualizations of interstate “power,” the text maps the redistribution of economic capabilities from the G7 to the BRICS, most particularly the relative rise of China and decline of Japan, and especially Europe. Given these clear trends in measurable material capabilities, the BRICS have obtained considerable autonomy from outside pressures. Although the BRICS’ economic, financial, and monetary capabilities remain uneven, their relative positions have improved steadily. Via extensive data analysis, the chapter finds that whether one examines China alone or the BRICS as a group, BRICS members have achieved the necessary capabilities to challenge the global economic and financial leadership of the currently dominant powers, perhaps even the United States one day.
