Tag: BRICS

“despite its scale, the bloc remains ideologically and strategically fragmented. “It’s a group of countries that hate each other,” Burack said bluntly. “China is harming many of them through unfair trade practices. There’s not a lot of incentive for real unity.”

The alliance’s aspirations to challenge the U.S. dollar through alternative payment systems and a potential BRICS currency have gained media traction — but experts caution against overestimating this threat.

“There’s been a lot of fearmongering about a BRICS currency,” said Burack. “But the interests of these countries are completely divergent. There’s more smoke than fire when it comes to a currency challenge to the dollar.””

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“While its cohesion remains questionable, BRICS poses a long-term challenge to U.S. influence — particularly in regions where Washington has retreated diplomatically and economically.

“China filled the void left by the U.S. in places like Africa,” said Briggs. “Now it controls about 38% of the world’s minerals. Meanwhile, Russia’s economy has doubled despite sanctions, because they preemptively reduced reliance on the dollar.”

Yet Chang sees India as a brake on any aggressive anti-Western tilt. “BRICS has an ‘I’ in it—and that’s India. Modi doesn’t want to be part of an anti-Western bloc. As long as India’s in BRICS, the rest of the world is safe.””

https://www.yahoo.com/news/xi-jinping-surprise-no-show-140004411.html