MAIN TRENDS IN GLOBALIZATION TRANSFORMATIONS AMID THE DEVELOPMENT OF BRICS AND ITS IMPACT ON POST-WAR ECONOMIC RECOVERY OF UKRAINE AT THE MACRO LEVEL

Abstract

The article examines the primary trends in the formation and development of BRICS, analysing its historical milestones and current state as an integration entity. It highlights the specific features of each stage in BRICS' evolution and determines its position within the integration process. Key economic indicators of BRICS' impact on the global economy and international trade are analysed. The main reasons why all BRICS members strive to maintain and develop relations with the US and EU countries have been explored. First, economic interdependence: trade with the US and the EU provides access to key markets, technologies, and investments. Second, diplomatic ties with the US and the EU enhance the geopolitical status of BRICS countries on the international stage. The study identifies internal contradictions among BRICS members and evaluates the feasibility of creating a new reserve currency. A SWOT analysis of BRICS' activities in the global economy reveals its strengths, weaknesses, opportunities, and threats. Special attention is given to BRICS' influence on Ukraine's macroeconomic recovery in the post-war context. The analysis shows that BRICS operates as a transregional entity rather than a traditional integration organization like the EU or NAFTA, driven by shared economic goals rather than geographic proximity or similar economic levels. Despite the expansion to BRICS+, encompassing nine countries, challenges such as political diversity and the absence of an unified financial centre remain. Furthermore, BRICS' potential development of an alternative reserve currency could disrupt global economic stability but is unlikely in the near future due to the dominance of the U.S. dollar. For Ukraine, the growing significance of BRICS poses economic risks, particularly in bypassing sanctions against Russia and shifting global economic dynamics. However, engaging with key BRICS members like China and India could open dialogue for stabilizing geopolitical and economic relationships. Future research could focus on Ukraine's interactions with BRICS to build stable economic-political ties.