I don’t see any signs of Russia being weakened at the moment. Their economy is growing right now, and they’ve successfully diverted the trade they were doing with the west towards friendly countries. Being one of the major essential commodity exporters, I think Russia will be doing just fine.
To me, a BRICS currency that’s backed by a basket of tangible commodities makes more sense than a dollar or the euro, and we’re now seeing a flood of countries applying to join BRICS as well. So, really it’s starting to look like the west against the rest here.
I expect that we’ll see western bloc countries continuing to use dollar based economy while the Global South will increasingly align around BRICS. In particular, we’re very likely going to see countries avoiding predatory loans from the World Bank and IMF, preferring BRICS institution instead.
I don’t see any signs of Russia being weakened at the moment. Their economy is growing right now, and they’ve successfully diverted the trade they were doing with the west towards friendly countries. Being one of the major essential commodity exporters, I think Russia will be doing just fine.
To me, a BRICS currency that’s backed by a basket of tangible commodities makes more sense than a dollar or the euro, and we’re now seeing a flood of countries applying to join BRICS as well. So, really it’s starting to look like the west against the rest here.
I expect that we’ll see western bloc countries continuing to use dollar based economy while the Global South will increasingly align around BRICS. In particular, we’re very likely going to see countries avoiding predatory loans from the World Bank and IMF, preferring BRICS institution instead.