An Economic Alliance 

The BRICS forum is an independent international organization that pushes for commercial, political, and cultural cooperation between the nations. Leaders pushed to create the New Development Bank in 2014. However, there were issues from the start with China purposefully donating huge amounts of money to the bank in order to have more of the initial capital share in addition to the host location of the bank. While there were no tensions, it set the path for how the new bank's future would be. 

The BRICS Contingent Reserve Arrangement is a framework that provides protection against global liquidity pressures especially when national currencies are shifted due to global financial issues. Emerging economies experience rapid economic liberalization due to the inability to control their own economies in a macroeconomy setting.