In the June 2024 issue of Global Policy journal, LA&PS Professor Gregory Chin assumed the role of guest editor for a collection of 10 articles focusing on The Evolution of the New Development Bank (NDB) within the journal’s Policy Insights Special Section.
Global Policy journal — recognized in Google’s top 10 for international relations and diplomacy journals worldwide — is an innovative and interdisciplinary journal that brings together world class academics, leading practitioners and next generation scholars to analyze both public and private solutions to global problems and issues.
The NDB stands out as the first multilateral development bank (MDB) established by and for developing and emerging countries. The articles in the journal highlight the significance of the NDB, which was established by the BRICS nations (Brazil, Russia, India, China, South Africa).
“I am honoured to take part in this collection that brings together an interdisciplinary group of social scientists, esteemed scholars and researchers and policy insiders from around the globe, as contributors for this special section on the NDB,” remarks Chin.
Professor Chin wrote the introduction article for the collection, and co-authored with York Doctoral Candidate Rifat Kamal, a pioneering piece on Bangladesh joining the NDB that draws extensively from Kamal’s doctoral field research in Bangladesh.
Each of the BRICS founding members contribute equally to the Bank’s budget and hold an equal share in its operations. Originating in the wake of the 2015 Paris Climate Change Accord, the NDB is dedicated to supporting renewable energy, sustainable infrastructure and sustainable development for its members and globally.
Amidst the peak of the COVID-19 pandemic in 2021, when the world shut-down, the NDB welcomed four new countries into its membership: Bangladesh, the United Arab Emirates, Uruguay and Egypt. The articles explore the reasons behind the growing interest of countries in joining the NDB, despite external pressures from Western alliances on other countries to align with them and not to partner with the BRICS. They also analyze the Bank’s expanding global outreach through new strategic partnerships, Southern diplomacy, and its growing institutional presence in various regions of the world. The pieces map the significant shifts in global power dynamics and the global developmental and geostrategic factors influencing the transformation of the world order.
“As far as I am aware, this collection of scholarly articles on the NDB is the first of its kind,” says Chin.
In line with LA&PS’s commitment to fostering research and innovation for a sustainable future, this research on the NDB and its global impact support York’s goal to further advance the Sustainable Development Goals (SDGs) of the United Nations members. Gregory Chin is an Associate Professor of Political Economy in the Department of Politics and the Faculty of Graduate Studies. His research is focused on China, Asia, the BRICS, global governance and the political economy of international money and global finance.