ANALYZE THE IMPACT OF RISING COUNTRIES IN THE PRESENT GLOBAL CONTEXT: A COMPARATIVE STUDY AMONG CHINA BRAZIL AND INDIA

Abstract

The US and other highly industrialized states' long-standing domination in the global economy is under challenge from the rise of developing economies like China, India, and Brazil. The global economy is evolving. At the same time, changes have been made to a number of international governance organizations to enhance the major growing economies represented. This article looks at the World Trade Organization, a key structure in the international regulation of trade, and the contributions and impact that Brazil, India, and China have had inside it. These shifts in power, which the rising nations are really influencing greatly, have resulted in the breakdown of multilateralism and the stillbirth of neoliberals at the WTO. There is now a battle between the new and old powers, despite the fact that the new powers are opposing US hegemony rather than the WTO's neoliberal worldview.