BRICS plans to transform the international monetary and financial system, and debated policies at the 2024 summit in Kazan, Russia. How can it challenge the dominance of the US dollar?
Rhadika pointed to the most crucial issue, and I dont know if it was really given the attention it deserves:
"While the BRICS must aim at productive, dynamic, innovative, exclusive, and egalitarian economies, that is not the direction in which Western economies are going."
This is not a trivial matter. The western countries have parasitic economic values: they prey on their own masses.....and on foreign economies that they turn into vassals, sucking out their resoruces and wealth. They dont do this by diplomacy, as there isnt any win-win in it, so countries cannot be conviced by any positive reasons.
They way they do this is
a) by coopting corrupt leaders, such as were recently deposed in Mali, Niger and Burkina Faso
b) by coups and invasion
So the BRICs and the global south need to to be clear that de-dollarization effort (to be more specific its basically an economic detox to remove dependency on the US and its vasals ) will come with even MORE violence from the west than we have seen so far. What they have done in Ukraine, they will keep trying to do elsewhere. Again and again. Massive violence.
This is not only in the form of national armies. Look at Pakistan where there is "terrorism" in places where China is building infrrastructure. Look at West Africa and the Sahel where "ISIS" and "Boko Haram" seem to pop to to attack those two are not completley subjugated or to keep them in line as a threat. The same happened in Syria and LIbya too.
So beyond the tehcnical-financial issue, the BRICS and anyone looking to do this has to expect violence incoming.
Rhadika pointed to the most crucial issue, and I dont know if it was really given the attention it deserves:
"While the BRICS must aim at productive, dynamic, innovative, exclusive, and egalitarian economies, that is not the direction in which Western economies are going."
This is not a trivial matter. The western countries have parasitic economic values: they prey on their own masses.....and on foreign economies that they turn into vassals, sucking out their resoruces and wealth. They dont do this by diplomacy, as there isnt any win-win in it, so countries cannot be conviced by any positive reasons.
They way they do this is
a) by coopting corrupt leaders, such as were recently deposed in Mali, Niger and Burkina Faso
b) by coups and invasion
So the BRICs and the global south need to to be clear that de-dollarization effort (to be more specific its basically an economic detox to remove dependency on the US and its vasals ) will come with even MORE violence from the west than we have seen so far. What they have done in Ukraine, they will keep trying to do elsewhere. Again and again. Massive violence.
This is not only in the form of national armies. Look at Pakistan where there is "terrorism" in places where China is building infrrastructure. Look at West Africa and the Sahel where "ISIS" and "Boko Haram" seem to pop to to attack those two are not completley subjugated or to keep them in line as a threat. The same happened in Syria and LIbya too.
So beyond the tehcnical-financial issue, the BRICS and anyone looking to do this has to expect violence incoming.
Kathleen nailed it. As good a summary as you'll find anywhere.