The US needs to win the Gaza War to destabilize BRICS to carry on with the India-Middle East-Europe Economic Corridor (IMEC) proposal presented in September at the G20 meeting in New Delhi. Veteran geopolitical analyst Pepe Escobar told the New Rules program that the Biden administration needs an Israeli win
The BRICS countries have been pursuing a wide range of initiatives to decrease their dependence on the dollar, raising the question of how long the dollar will last as the world’s default currency. Chinese President Xi Jinping at the 14th BRICS Summit via video link in Beijing, capital of China,
Professor and economist Richard Wolff said that BRICS expansion goes hand in hand with de-dollarization and the decline of the ‘US empire’. The expansion of the BRICS group of emerging economies has coincided with the US dollar’s loss of dominance as the world’s reserve and trade currency. Professor and economist
French newspaper L’Opinion reported that French President Emmanuel Macron has asked for an invitation to the BRICS Summit. Emmanuel Macron meets with Cyril Ramaphosa on the sidelines of the COP27 climate summit in Sharm el-Sheikh, Egypt, November 7, 2022 © AFP / Ludovic Marin French President Emmanuel Macron has asked South African
The US attempts a ‘divide and conquer’ strategy against BRICS by undermining the BRICS and the Shanghai Cooperation Organization (SCO) from the inside. Something extraordinary, at least on the surface, happened on the sidelines of the Shangri-La Dialogue in Singapore earlier this month – a somewhat pompous affair self-described as
Naledi Pandor, South Africa’s Minister of International Relations, told reporters that the new currency created by BRICS nations may offer a shield from sanctions. BRICS nations asked the bloc’s specially created bank to provide guidance on a how a potential new shared currency might work, including how it could shield
A representative of the New Development Bank has informed the media that Saudi Arabia plans to join BRICS. Saudi Arabia is in talks on joining the BRICS’ New Development Bank as the ninth member, media reports. “In the Middle East, we attach great importance to the Kingdom of Saudi Arabia
In 2021, China derived 43% of its GDP from investment, which is twice as much as the US and other Western countries. If China shifts some of its GDP to consumption, it could reduce its trade surplus by encouraging consumers to buy more imported goods. This could potentially position China
In an opinion piece published by Foreign Policy, former White House economist Joseph Sullivan said, “If BRICS uses its own currency for trade, it will end the dollar’s hegemony.”