Research Proposal Muhammad Tahir Topic : New Development Bank vs IMF

Contents  Introduction  Significance  Research Questions  Conceptual Framework  Operational Difference  Literature review (1) New Development Bank (2) NDB and IMF  Research Design: Methodology  Limitation & Delimitation  Bibliography

Introduction  In this research I want to introduce a new fastest growing group in shape of BRICS contains five emerging economies, Brazil, Russia, India, China and South Africa.  Focusing on BRICS and its New Development Bank which challenge the IMF and US Hegemony.  This study aims to explore and understand BRICS and U.S capacity and determine, is BRICS really in position to challenge U.S and its mature system. Political scholars observe this group as a real opponent of U.S and its monetary systems in shape of IMF, World Bank

Conti………  The term BRICS was used for the first time in the Goldman Sachs  The term BRICS was used for the first time in the Goldman Sachs report 2003  BRICS is international political organization of leading emerging economies.  BRICS became a new and promising political-diplomatic entity  Basically Established on 16 th June 2009  It is the  It is the fastest growing and emerging economics  BRICS is the international political organization of leading emerging economies. Its five members are all developing industrialized countries

Significance  Significance of this study is that this study will provide a comparison between US and her institutions with BRICS countries and their institutions  U.S is going to be strongly challenged by BRICS and its beginning is through BRICS New Development Bank and now world is going ahead from uni to multi polar world.  This study will explore the causes which challenge U.S hegemony. It will help students of Political Science and I.R to understand the challenges have to face emerging economies.  It just happen through fastest growing economies and their Bank which is openly challenging the IMF and World Bank.  It is really important to study of this topic when this world is going towards multi polarity from Uni Polarity

Research Questions  Is BRICS and its New Development Bank challenge the IMF and US Hegemony?  Who are emerging economies in the world and what impact on world for their emergence?

Operational Difference  Normally, study related BRICS and US available but less contains on comparisons of its institutions. My research is different than others because here is comparison between BRICS and U.S and their institutions. And logically proved that only BRICS can challenge US hegemony.

Literature review  This review provides a critical evaluation of BRICS policies, agenda and their rapid development cause open challenge to U.S and its related institutions hegemony  Briefly discuss BRICS summits history, creation of NDB CRA and its comparison with IMF and U.S

Literature review  BRICS represent 3 billion people or approximately 46% of the world population & 25% of the world’s land coverage  Five Nations GDP of US trillion, approximately 20% of the gross world product & US$4 trillion reserves  China and India-Suppliers of manufactured goods and services  Brazil, Russia, South Africa- Suppliers of Raw Materials To Economic And Social Integration  Challenges Related To Economic And Social Integration  Desire To Make The International Order More Representative  Possibility Of Cooperation In Many Areas

New Development Bank  Formed on July 2014 and came into force in July Earlier known as “BRICS Development Bank”.  Headquarter in Shanghai  Unlike the IMF which assigns vote based on capital share, In the NDB each participant country will be assigned one vote  1 st president from India  NDB is source of rising strength of BRICS & against the domination of western countries and WORLD BANK & IMF

NDB and IMF  1.IMF and World Bank are dominated by U.S and western countries 2. IMF and world bank follows different voting power based on quota system. Though China is second largest economy after U.S it has fewer voting rights in NDB. 3. The financial institution created by BRICS will reduce the importance of US dollar as a global currency and eventually it will increase importance of Yuan 4. IMF cash assistance program is conditional. If a country's foreign policy clashes with US then it will be difficult to obtain a loan.

Theoretical Framework  In this research I want to prove that world is going to multipolar from unipolar and my theoretical frame work is surrounding to uni to multi polarity.  And I also want to prove that after the decline of USSR being sole world power US has destroyed the world and impose a lot of wars in world and imposed and maintained her hegemony through coercion, economic boycott, aggression and wars.

Research Design: Methodology  Paradigm: In this study sets in rational choice and ontological position relative and co-constructed realities and epistemological subjectivist and anti-foundationalist  Type: In this study set in descriptive, historical and analytical type.  Method: Qualitative method has been utilized  Data Source: The study will rely on secondary sources.  Population: Main population of this research is articles, official websites and books. These articles and books are published during 2003 to  Unit of Analysis: Main Unit of Analysis of this research is flexible and data will lead the analysis and coding will be according to data.  Data Collection: In this research articles and books references main sources are Google scholar, articles, columns, reports and books.  All references are given at the end of study.

Limitation & Delimitation  In this study I have some limitations like beyond from primary data and have no access of the BRICS countries and their ministers and I have restricted myself in a time frame of 2003 to I have focused my intention on BRICS and NDB and IMF and US related issues and major issues regarding that era. Due to time shortage I could not read many other important books related my topic.  My delimitations are secondary source of data access articles, press releases and books. I have a huge data on this topic. I also have access of official websites of my topic related institutions and countries.

Bibliography  Bibliography  1.  2. Monteiro, 2012 "Polarity and Power: U.S. Hegemony and China's Challenge". International Security 36 (3): pp. 9–40, p. 9.)"Polarity and Power: U.S. Hegemony and China's Challenge"  3. Kaya, 2014 “BRICS and Geopolitics: A Match Made in Heaven?”  4.  5.  6.  7.  8.  9. Katasonov, 2014 “70 Years Dividing Bretton Woods Conference and Fortaleza Decisions” Katasonov    12.

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