Could BRICS challenge U.S. dominance in the global economy? | Inside Story
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- čas přidán 16. 06. 2024
- Foreign ministers of the BRICS nations have been meeting in Cape Town, with South Africa hosting fellow members Brazil, Russia, India and China.
Several countries have also expressed interest in joining the bloc.
Could this group of emerging economies shift the balance of global trade and power?
Or is it a political pipe dream?
Presenter: Mohammed Jamjoom
Guests:
Sanusha Naidu - Senior Research Fellow, Institute for Global Dialogue, an independent foreign policy think tank
Chris Weafer, CEO Macro-Advisory, strategic consultancy that operates in the Eurasia region
Shirley Yu - Political Economist and Senior Fellow at the Harvard Kennedy School
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#News #Brics #SouthAfrica #Russia #India #Brazil #China #UnitedStates #Economy
Well it's time for the BRICS- New World Order to come up with a default reserve currency or simply go back to gold as the reserve. It will be too chaotic for each country to trade in their respective currencies with the daily change in exchange rates.
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It's interesting to learn more about the discussions and proposals around BRICS nations and their potential use of gold. There are several reasons why people may choose to buy gold, including its historical use as a store of value and means of exchange, its potential as a hedge against inflation or currency devaluation, and its relative scarcity compared to other commodities.
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However, it is unclear how a new currency backed by gold would function in the current global financial system and whether it would gain widespread acceptance. Ultimately, any decision to create a new currency would be subject to numerous economic, political, and logistical considerations.
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BRICS wants to build a new currency. It is also worth noting that gold has historically been used as a store of value and a means of exchange, and some countries still hold significant amounts of gold in their reserves. However, it is unclear how a new currency backed by gold would function in the current global financial system and whether it would gain widespread acceptance. Ultimately, any decision to create a new currency would be subiect to numerous economic, political, and logistical considerations.
It's interesting to learn more about the discussions and proposals around BRICS nations and their potential use of gold. There are several reasons why people may choose to buy gold, including its historical use as a store of value and means of exchange, its potential as a hedge against inflation or currency devaluation, and its relative scarcity compared to other commodities. Additionally, gold can offer diversification benefits to investment portfolios, as it tends to have a low correlation with other asset classes like stocks and bonds. However, it's important to note that investing in gold carries risks and may not be suitable for evervone. and investors should carefully consider their investment objectives, risk tolerance, and financial situation before making any decisions.
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SIMPLE .. As a Brazilian, I see G7 as a small group that works HEAVILY to benefit themselves... Why we should not create our OWN cooperation?
It would be interesting, but Putin should also stop his war on Ukraine, it's more he is looking for an alternative way to make money and continue his war.
Because The Great USA, The Great Britain, La Grande Francaise and the 3rd Re1ch are our masters. Those countries are the creators and supporters of the world wars they have abundance of propagandas and experience in killings so you better serve!
Who’s stopping you?
Because you depend on the G7 heavily for everything from the planes you fly to the cars you drive to the ships you sail. Please remember you cannot have a smart phone even the internet with BRICS. They don't have the technology to make it themselves you must rely on the G7 for all of that .
A lot your technology and engineering for water, and water treatment plants are all G7 technologies. A lot of your big and advance mining equipment is from the G7. A lot your oil rigs off the coast in the sea is all come from America or Europe. Most vaccines and medical equipment all come from the G7.
I still wonder why the western narrative is all about the BRICS as a challenge to the US dominance. The BRICS countries also want to develop using their own model and characteristics, and withiout bullying by the USA(sanctions, regime changes, etc, etc).
I am for bics. A Russia would lose it mind. Then America can stop paying bics and partner ship. Which is sad to the immigration rush going on.
@@kinddave27 what is "bics"?
@@ruvilakazi4237 it was brics. But since the south Africa lady said they would arrest Putin if he join the bric legend of doom. So I guess it would be bics like the lighter you use hey in America
You are so misinformed
bullying ??? Tell that to the graves of mothers and children who died in ukraine ,i hope your family never knows such sorrow, the world is not a good place and needs someone to keep the order or there is chaos, if not chaos then china ,russia would fillmthe void and those countries have no respect for human rights
Best wishes to 🇧🇷🇷🇺🇮🇳🇨🇳🇿🇦 and new new members( 🇸🇦🇹🇷🇮🇷 🇪🇬🇳🇬🇲🇾 etc) that seeks membership to BRICS ❤
Not Malaysia, it's Indonesia that's seeking to join.
@@elsagelympne7943 also Argentina
Muslim countries must not be allowed
@@gingergrantnews
We don't want Islamic countries in BRICS. Because BRICS have a reputation and brand.
Kenya, Ghana, Venezuela, libya, marroco, Pakistan, South and north Korea, veitnam, and Japan, Iraq, Afghanistan, tajikistan, azerbaijan, Uzbekistan, khazikstan, Syria.
I pray to see BRICS grow and taking charge of the world economy.I pray to see this world being a happy place to live in and being free economically
Russia India and China are forming a new axis of evil, Brazil and SA are getting caught up in this mess. Plus China and India are implacable enemies so no, things aren't likely to end well for BRICS
Yes, something "The West" spent the last few hundred years trying to bring too the world. And you can clearly see all the thanks they get. The very idea of BRICS is born out of western innovations in trade and economics. Before the evil west brought the concepts of economics and trade to the world these countries were busy eating others citizens.😅
They can challenge for sure, but not right now. Putin has weakened BRICS 😂
Remember what you're wishing for it also means war with evil Uncle Sam 😢😢😢😢😢
Your prayer is not answered. Your deity is busy with something else and you are just insignificant.
BRICS is more than what the Western thinks it is.
As an African, all I wish you are More success BRICS❤
Brics... broken, ridiculous, investment, clepocractic system.
The countries in it, only 1 is decent and has a bright future,
India.
Can you elaborate and explain
@@chilesauce7248And why do you think so?
@chilesauce7248
India won't succeed without Africa, just like other countries. So what are you talking about? Everything that the world needs including India is in Africa.
@@chilesauce7248g7 broken, ridiculous, investment cleptocratic system. The countries in it... only 0 is decent and have the bright future
" "
No one is challenging US dominance, we just need options. BRICS is a new option for us.
You mean 14 year old option! I salute anything that can bring prosperity and peace to africa and the world... But this will not remove corrupt dictators or much more peace. But lets hope for some changes
@@jacobjorgensen992214 yrs options is way better than 500 years of slavery, oppression, sanctions, destabilization, wars, puppet leaders and everything evil & demonic etc 💅🏽
@@jacobjorgensen9922 usa neither, dear. Actually, peacefull is something that we from the "thierd world"cannot associate with americans, if we anylise our experiences during all theses decades. Bye
Isn't give options the same as challenge us dominance?
Competition is competition and the game is the game. The BRICS will not win this game by talking loud and being mad. They have to produce results. After 14 years the BRICS have produced nothing of any real value. If the leaders of the BRICS want to compete then they should compete and stop making dull speeches. If they are as good as they say they are then the West and America shouldn't stand a chance of competing against BRICS. Knuckle up buttercup because you won't get this crown for free.
YES, and as an American, I hope BRICS succeeds. I'm ashamed of the evils my nation does to other nations. I can be a patriot yet still believe we don't need to subordinate others. This is the perfect wakeup call my nation needs, in order for us to pass better international policies.
You should also be proud of what your nation has done to help others. America is the most genorous empire in history. China and India have risen because of America, dont ever let anybody tell you differant.
How did India rise due to America?….most of India’s gdp and gdp froth comes from internal consumption rather than exports
@@udaykhosla2616 India imports capital and tech that helps deveope the structure for that internal consumpotion to produce a more robust economic cycle. The financial and banking apps used by many Indians is an example. They allow Indians to due business with each other all over the country. Western tech, mostly American, wether people like it or not, has a big part to play in emerging ecnomies.
@@logician3641 I think it's 100% important to appreciate what America has done for the world. It's also just as important to seek progress within the system. It's just a matter of time before things go south =/
Not another idiot
Why I keep hearing news medias especially those from Anglo Saxon continue to describe moves by some countries trying to go their own way to do business or to cooperate among each other is termed as "Challenge".
It's an imperial mindset, the assumption being that everyone's resources must be managed with some level of West input or direction
Yall must a pea for brain
The journalists refers to the brics statements and their brics own words about challenge are just repeated! Actually its not a big story in western medias at all. Most just see it as the same Dictators trying to fool their own people and give them fake hope so they dont riot about living in failed states with no freedom and no chance of improving their own lives...
BTW, Al Jazeera is not your typical anglo-saxon media, so it is just that any media loves one against the other so that they attract a larger audience
The initiative is great more especially for we the Africans.
@Musa M Kalamu, how could you explain?
@@sunnyyande378 it will give Africa more wiggle room to go after their self interests. They can use their minerals to back their currencies and they can trade more with themselves and other nations around the world. So many trade offs.
@@faa9261, but they can do that with the current framework if they want to with AfCFTA. I don't see how BRICS is going to do this. It is true that Africa needs to look inward, but the current crop of leaders we have cannot do it. Let's be honest with ourself.
Ofcourse because you will go back to the bush to hunt these criminals will loot and rape .
We Africans now have a worse problem my brother, our resources are now being stripped by a worse, cruel force, China. At least the west paid fair price and invested for us to employ local people. The Chinese don't pay fair prices, they bribe our politicians and smuggle our raw materials which does not our countries. They bring in their own labour from China, they don't employ local people. In short, the slavery we experienced in the 18th century, it's back now in the form of the Chinese. And we are applauding just because we want to spite the west whilst still gaining nothing. All the infrastructure the Chinese are building for us, they demanding our governments sign over mineral rights as collateral to these loans they are funding the infrastructure development. Our corrupt governments are mortgaging our children's future. Why do we as Africans need other countries (the west and the east) to come to us to validate our existence. Everyone wants our resources. The Chinese are worse slave drivers. There is nothing to be gained from joining these people.
We are the future BRICS+
Putin is safe in RSA
@@senantiasa NATO+ = LGBTQ+
Under No Circumstances Should Any Former Colonial Countries be Allowed to Join BRICS, This Goes for Most European Countries, Especially Germany ,Brittan, Belgium, Dutch Speaking Countries, Portugal Spain ,and Especially the United States
BRICSは経済が成長するように頑張ってください。
It would be good for all countries
But sadly Japan chooses to hug it’s master’s legs..
@@starhawkflyingbright6905 a inteligencia dos japoneses deve despertar, o mudo é grande demais. Africa é um mercado promissor.
@@starhawkflyingbright6905
Which master?
Japan is weak, so we can't raise our head to many countries.
Could be any country that fits in. lol
@@user-vf8nh9dw3b Japan economy is third largest. Stop acting weak. Bhutan is weak but they don’t bow down to any big countries..
BRICS sempre avante e com espaço para crescer!
Fron Brasil 🇧🇷
Expert panels, balanced perspective, unlike the one-sided view in CNN, BBC, DW...
true
DW and CNN are particularly bad now.
Lame
Like what? South Africa is literally on the cusp of becoming a failed state, Brazil is right next to massive country on the verge of financial collapse, China and its massive debt problem, or Russia not even being the most powerful military inside Russia, a run down gas station with maybe working nukes, good luck, just saying.
@@bartsimpson1161 DW being funded by German gov is run by usa
A new BRICS currency is a future of world economy. Sanctions by US wouldn’t work any BRICS nation. Work unitedly and rule the world economy. Best wishes for BRICS
Dream on. India and Brazil are democracies.
That’s because your a moron
And what currency would that be. China and India are basically at war, they will never agree to the same currency.
Lmao nice joke 😂
Autocratic China with it's debt trap loans is grinning from ear to ear. Come here my dumb victims let me be your new master. 😂😂
This should have been done decades ago. Any way, better late than never.
Fun fact, Bric is founded 1 and a half decade ago and this is how far 14 years took them ;)
I'm laughing to think that which boot Japan is gonna lick when their boss collapes😂
It's time for them to stick together and do more business their own way and methods.
Good Luck
Good luck it’ll never happen
@@rmf9567we are watching the roman empire falling
Tired of white people running everything. The jig is up🎉
@@rmf9567 I just like to see the outcome
Brics is the best progressive movement since America was discovered
I hate to tell you this but BRICS was a Goldman Sachs concept.
@@knockknock1246 Jim O'Neill, the economist you refer to, only coined the acronym BRIC to collectively describe the fastest-growing group of economies at the time. That was in 2001. BRICS, as in the actual organization, only held its first summit in 2009, when it was still called BRIC. So I hope you're not trying to imply that Goldman Sachs is somehow behind BRICS.
@@violetlatner6366 Ah, and bitcoin is not vulnerable to complete oversee by the Deep State Satanic Marxists? 😂
I am for everyone having their own currency. It allows competition and economic betterment for all. Print and stay ugly is no way going. Look around. EVERYBODY is tired of the same "business"
As an example. What happened to khaddafi when he planned o a currency gold backed and independent from the "cannot compete unless people" ?
Another example. Totally compromised puppet to the Deep State Satanic Marxists Klaus Schwab tells the world he admires Chinese direction to total control of economy as something to look up to but China is sitting on HUGE inventory at Deep State directions and tutelage but AT PRESENT they are only 2% of reserves for global currency??? What type of books you reading? Alan Greenspan economics? 😂 debt ceiling. 😂
Double Talk, Double Standards, Double Dealing and Deep State Satanic Marxist Agenda University Degrees...
Ukraine is another Holodomor genocide 6-7 million Ukrainians starved to death or executed by the Bolshevik government.
What is your occupation?
@@violetlatner6366 Violet...EVERYBODY knows....and it won't happen again.
@@violetlatner6366 Your highlighted post ALSO looks like payola.
Let's go Brics ❤❤❤❤
*It will fail to get off the ground as as Lavorov, Putin & Xi die (most likely within the next 10 -15 years). The next generation of leader in developing nations won't hold the same grudges as their sad predecessors*
Let's go BRICS ❤️
@@hemanthkumar8435 You Right ✅️ 👏 BRICS 👍
@@hemanthkumar8435 *LET'S GO BRANDON!*
*LET'S GO BRANDON!*
Thank you Shirley for checking that comparison about EU monetary union and BRICS common currency.
Everyone knows that BRICS is a future but there is still few people in the world that cannot admit it yet
it would be an admission of loss of dominance
Your need to stop following this trend lol! Yourself who write this message don't even believe in your money then the USD so you guys should stop following the news and stop dreaming of something that will never happen.
😂😂😂😂 all corrupted leader who can't even look after they're family back home and they came to run this world. Stupid public will naver learn.
@@Shut. Don't mind them! People are too quick to follow the news! I don't like the USA and all that but the USD is not going anywhere people should just accept that and let the massive live the life. China is no better! All they want out of this is to be world super power so pushing this currency to the moon and back by china is a game. Chinese themselves don't even believe in there own currency people talking about bric currency😂 come China and see them selling online everyday and see whether a Chinese boss can accept any other currency besides the dollar. Some can even refused euro just to tell you how they love the dollar! Let them bring bric and let see all these people out here with dedollarization if they gonna travel with bric currency or dollar. Funny people😫
Let them be. They'll be left behind.
As an African, this is a great initiative. The BRICS alliance should be slow to admit new applicants who are sent to bring it down.
Well I hope you live there & not in the west
@@kevincurrington1331as a none African this is a great initiative .the bricks alliance should reject to admit any applicants who are intent on bringing it down from inside ! Where do you hope I live ?
@kevincurrington1331 we tired of your exploitation imperialist rule. You racist scumbag the powers are shifting. Stay humble white guy.
@@kevincurrington1331 - Come and remove your anchor baby european migrants from Africa.
McDonalds drive thru
Go! Go BRICS! 👍
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headline should be: "could G7 sabotage BRICS's driving role in the global development?"
That's a interesting post. Would you mind elaborating
@@benshephard5573 for example: according to open data, china's manufacturer base is bigger than US, EU and japan combined; china's contribution to global economy growth is more than G7 combined, etc. all for many years now.
regard to real economy, not only the US, the collective west lost their dominance already to china long ago. the dominance they have left now, are on currency, main stream media, and over sea military bases. basically they can't build, but they can lie and destroy.
@@noneone3310 US' only stronghold now is in culture (music, film, basically all of entertainment). Hope that changes soon.
Worst Health Organization is already planning to release another deadly virus, they are hopefully planning to release it in a BRICS country😢
@@thunderous-applause57 yeah and that culture Woolf to be nothing without African Americans
all countries are super power. not just US. keep moving forward BRICS
No
@@MagicMike_101but you can't refuse their influence on world specially china, India, russia
@@SanatanDharmaOnly108 Oh, profile on the internet. I can't refuse, ohhh. Plz, BRICS, forgive me.
Should we be worried about the BRICS is quite a loaded question. It implies that taking control of one's own economic affairs and becoming independent of the US global hegemony is somehow a bad thing.
Been a Long time coming, Thank you.
Common currency is different to uniquely money, BRICS money will be a mechanism to avoid the need to use dollar in international transaction, which is common currency.
To replace it with a need for something else :) Lovely logic! And that replacement might be more expensive and more unstable
I went to Brazil last year to study the PIX system used in commercial and personal bank transactions using cellphones and bypassing fiat currency, checks, and credit cards with zero cost for either party. All done in less than two seconds.
Four years ago, while in China, I saw places that only did financial transactions by using only cellphones - no credit card or cash was accepted.
Things are changing with the use of Blockchain technology and already facilitating internal economic transactions in these countries.
The way we do financial transactions today is fast changing, and new ways of doing business between countries is not a matter of "if," but a matter of when.
@@cf4689 Then autonomous AI starts laughing at the stupid humans it is about to takeover.
@@cf4689 you sound stupid. No one will trust your fake currency
@@logician3641Better than the Muricans taking all your fx reserves in dollars 😅😅😅
Its good to see our african brothers standing up for what is their right after so many years of plunder by the colonial powers. Love from India.
African are very hard working people Latinos are they worst man please European countries do not allow Dominican Venezuelan Cuban Haitian Peruvian Ecuador to your country especially Dominican Mexicans yes they work hard
Thanks
Beautiful discussion. Thanks guys
considering BRICS countries grow in a much faster pace than the G7 countries and they have 50% of world population, there is absolutly no reason to not think it could not do good in future... even if not right now, imagine in 10 years...
These growing countries depend far more on exports and they’re growing because of investments from far more established western countries. Take China for example……if the us and the west didn’t move nearly all of its manufacturing there you thing China would be where it is now.
@@anthonyk423 20 years ago and you would have a point, nowdays China produces everything on their own, cellphones, cars, anything.... they have more investiments in the western than the western in China...
@@netopierro10 china produces those things for western customers and western companies. Since China depends so much on exports and a country like the US can over time just produce those same products somewhere else and do the same thing the did for China to another country. The Chinese government does have over a trillion in us bonds just means they need a safe place to put the money but China makes far more money from the us than the us makes from China. Also it’s far more money invested in China than they invest in the us. Those bonds are securities not an investment.
@@anthonyk423 China has 1.5 billion customers, their internal market is huge, they do produce a lot of things for the western, but you cant disregard their internal market. China was smart, they learned with the western companies who came to the country looking for the cheap labour work force and they now have their own companies for everything, they dont rely on western companies at all... China owns most of US debt securities, those are an investment cos they only exist because this money was spent investing in US, like in GM crisis in 2008, China kinda saved GM...
@@netopierro10 China’s gdp per capita meaning how much the average person makes in a lil over $12,800 a year while the US is a lil over $80,000 a year over 6x higher and that’s just 1 western country. So China can make more money in the us alone than it could in China and China exports far more to the US and western countries than they do to China. US citizens and US companies own 70% of all US debt and China is i biggest debt holder OUTSIDE the US and the US government used tax payer money to bail out the big 3 car companies and they paid that back with interest. The US government doesn’t invest in the US economy they pump money into the economy during economic down turns. Also US debt is not really considered an investment it’s a way to secure large sums of money long term and widely considered a pretty sure thing as far as getting your money back and keeping it secure. China got smart and had an impressive run but now gonna ruin it because the CCP is more focused on power and control. Why is China so focused on reuniting Taiwan and other part they feel belong to them but not the huge piece of land that Russia took from them.
Could ? BRICS countries, especially China, are already challenging US dominance in the global economy. Much of US China tension is really about that.
No, don't push my country to challenge any countries, we have no duty to challenge USA for you fking shith0le countries.
@alphabet sim let India to fight with USA to pave the way for the world, we Chinese is not interested with any conflicts not benefits us.
@@IwasUnknownUserearlier u guys were about economic benefits..now it's all about geopolitical leverage for china ...hence India is growing faster than both usa and china by being neutral
@@leenasarkar7808 What economic benefits? Chinese work 10 hours per day, 6 days per week, why don't you people work like slaves and benefit other countries?
What geo-political leverage? Let us know how a poor country like India grow faster? Your shith0le country even don't have toilet, and raping woman is normal, and religious conflicts are happening everyday, I just make it clear that if USA didn't opposes China, why should China challenge USA?
India is not neutral and always want to use other countries as leverage, like India is not an important role within BRICS, but India behaves like you are the boss, how much money can India contribute to BRICS?
China is enough for ending us dominance, chief discourse they just fool their citizens and control capital plight hhh traded among Themis already started in yaun😅
The US should be humbled in all departments
By these broke countries that depend on US IP on almost every thing ???
Wow, you really are misinformed to hold that opinion
Its interesting how they're all speaking to each other in english
Thank you very much for such reliable information, it fills me with joy to see how the true political leaders who love their population and seek commercial freedom meet to achieve coexistence and harmony that leads to unity.
You have been conned, xi, putin, lula do not care about their people only their agendas.
You think political leaders actually care about their citizens. Cute.
I hope The USA, UK and EU27 face the music for their war crimes in Iraq, Syria and Libya.😊
The real war criminals in all those situation are Arabs, like the genocidal Assad.
All war crimes should be punished - so true! How do you feel about Russia invading Ukraine?
@@jacobjorgensen9922 don't feel anything not my problem Ukraine could handle this problem through diplomacy after many warnings from Russia they neglected the warnings become pro west which is threat to Russia just like America donot want Cuba to be pro ussr in the past.
@@mohammadismailalam3245 exactly you support a Russian invasion and want Ukraine to just give up lol pathetic.. you see countries that ally with the west get help.. countries like Iraq Syria and Libya are stupid and get bombed instead for being stupid
@@mohammadismailalam3245Don't care about third world problems. They're self-inflicted and never end. Always blaming the First World and never running to BRICS countries as refugees.
I have observed my local currency depreciates usually after new elections . The new government often attributes this to previous Government as if they take with them all the records .Now i have realised that the almighty dollar is the cause . A new trading currency would be much welcome to bring some stability to the economy. In a nut shell, my observation is that the US dollar is manipulating other currencies. and not in good faith.
This lady is really intelligent. I wish Arica had more of this.
Interesting. Brics will promote multilateralism and equality amongst sovereign nations. It seems we are moving towards non dependency on Western nations
BRICS; a platform for united peaceful economic growth and development...
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That's great step for moving on global economy
The heart of the wise acquires knowledge, and the ear of the wise seeks knowledge.
So delightfully unrelated to anything.
Should strategise the “Made in BRICS” concept and brand this with rich market share driver.. the profit proceedings should be on minimum % share basis at end of year.. can this ?
I think that would basically mean made in China. India is no longer using made in china goods
Because the shares will have a minimum distribution plan, the work-load will be distributed that should serve the entire BRICS countries and more nations..
They can challenge for sure, but not right now. Putin has weakened BRICS 😂
WOAH did you fix the audio on inside story???? thank you!
Thank you. Very interesting.
BRICS/ SCO/ BRI - are the FUTURE America 🇺🇲 would be wise to go along to get along and if smart - could have economic benefits from their success!! It does require diplomatic skills though - something our leaders in Washington DC are lacking in 🤔🤝
Word .
BRI is a big failure.....
BRICS is finished what do you think Ukraine is all about...
@spacie dictators and money londonderrig 😅
Amazing information!
China doesn't talk much about their projects (e.g. Saudi - Iran deal). But i hope the BRICS expansion & new currency happen 𝘴𝘰𝘰𝘯.
I hope they become economically strong enough to get things done.
This is about unity, b/c they already have a bigger GDP. A pipe dream is something that well just a dream. The have a bigger and younger workforce, bigger markets, the most talent combined, most of the resources and a potential 1000x greater Wall street like exchange not backed by phony money and derivatives schemes, but real everyday used asset.
Very interesting program Mohammed, and Shirley Yu proved to be the most articulated of your guests of the panel in this occasion.
Now, there was a misunderstanding at the start assuming that BRICS intends to create a common currency such as the "Eurolemon", but I think he panel was very clear on the fact that every nation member will maintain their OWN currency and perhaps a PSEUDO CURRENCY will be created working as a virtual "CLEARING HOUSE" to encourage, facilitate and reduce the cost or financial transactions between the members. This also (in my view) will work around some of the "boobie traps" installed by USA et al to control and manipulate financial markets such as SWIFT and many others.
The last minute of 1:33 will change everything for BRICs.
The world is big enough for two trade blocs
Now I know why Silva was removed, he proposed a common currency, that's how Gaddafi got killed.
Thank you 🙏
Economically speaking, people only care about their own interests which is not generally good.
The various BRICS member states all know of the importance of pushing back against Western hedgemony. Having felt the pain of the past they all understand.
Yes please, absolutely. Many happy returns from Australia 🤘
As someone else said. BRICS shouldn't be an exclusive, but rather an inclusive organization that binds the world together for a better shared peace and prosperity.
He missed out on question which should be how India n China ll get along with eachother especially when 10000 troops standing on LAC face to face ! ☝️🤩✌
There are more pressing issues. Not everything is about India. 🙄
@@bartsimpson1161 but it should be considered - its the elephant in the room. greetings from germany
The dispute between India and China is more of a theatre. It's an leverage both sides use to counter each other. In reality it's such a minor issue that even if one side, China or India, loses the disputed territory completely, it will not impact the country's international standing at all.
@@sp7873 Yes n u can't ignore big animal like that because of the size ! 😉
India and China are matured nations with highly educated diplomats. They will solve it diplomatically like always. Both countries know their economy will take a hit if anyone escalates the border situation.. decades of economic growth will go down the drain.. both are aware of the risks and in order to avoid incidents, they also don't carry loaded weapons with their soldiers.. recently China's defence general visited India for talks and said the situation at the border is “generally stable” and both sides should put the boundary issue in an “appropriate position” and promote its transition to “normalised management”... In short, both countries know they should work together.. Historically, they had excellent relationship that benefited both parties when they work together...
Thank you BRICS❤👋🙏
ABSOLUTELY, ABSOLUTELY BRICKS IS THE FUTURE MOVING FORWARD.
It is undeniable that economic power has shifted from the west to the east, countries in Southeast Asia who are members of ASEAN are predicted to be the Europe of the future. Indonesia is needed and invited to immediately join the BRICS because representative of ASEAN countries where the economic and the Electrification, green also EV industry is developing very fast.
The media likes these stories but presents them in such simplistic terms that they’re almost abstract. Assuming a dominant monetary role has many trade offs of the type no BRICS member so far has been willing to make. You must have transparency and flow of currency quite free from controls. You must be willing to accept swings into trade deficits. You must resist the urge to tamper directly with your currency. This is what is required to be a palatable alternative to the US dollar.
Weaponaising currency have consiquence
Brics currency is not a currency union! It's going to be separate from the national currency! 2nd, don't listen to western experts, they are inherently and helplessly biased and can't think straight when talking about anything not in their parochial interest...
@Bougiebete that won't happen because China is in there. China's run by the CCP. The CCP DNA is control and opaque. Transparency will cause them to lose control, and they become paranoid. It's a no-go for the CCP.
They only want a currency for trade
People prefer to focus on ideologies instead of the actual reality of economics and technologies. BRICS is a pipe dream in many ways. You want to talk real world economics or ideologies?
INDIA and BRASIL must be permanent members of the UN... !! from Germany
How are things in Germany ? How's the recession ? Where's the Nord Stream 2 ? Why would those countries be members of the UN which is driven by NATO which is driven by America ?
INDIA N BRAZIL BEING BIG COUNTRIES N ECONOMICALLY SIGNIFICANT TO THE WORLD, THEY CERTAINLY DESERVE TO BE PERMANENT MEMBERS OF THE UN SECURITY COUNCIL.
Why? Due to what credentials?
Actually there shouldn't be any concept of permanent member in the security council and therefore this undemocratic council should be abolished before this issue raise the question about the creditiblity of UN which may arise the question to abolish the UN itself.
Germany and Japan should be as well. Love from Brazil.
Thank you
is there an update here now as the summit occurred in August already? Cannot seem to find a lot of new content after the new meeting.
It is prime time for developing countries to work together to defy economic coercion and global chaos orchestrated by the US and its vassal states
Lol
The answer to the title question is an absolute "NO" because of the forever playing all sides India.
Live in the West but was born in India. Shamelessly the Indians migrate West NOT to Russia or China but sitting on the fence and having their tentacles everywhere
nice go ahead make it happen
Thank you Al Jazeera justice for Shireen ❤🙏💯
Vivendo para ver os colonizados, os desprezados, os barrados nas fronteiras, mostrando seu poder diante dos imperialistas. Juntos somos mais fortes 🇧🇷🇷🇺🇮🇳🇨🇳🇿🇦
South Africa successfully defied the ICC order of arresting Almar Albashir, it can also be reluctant of arresting Putin when he lands in SA
I am so happy to hear africa finally can say colonization was a good thing! Hurrah for Putin colonizing Ukraine....
@@jacobjorgensen9922 What has Israel been doing colonising arab lands.
isn't it funny that US is influencing the arrest but US is not a member of the International Court? Guess Why???
@@jacobjorgensen9922 You are pushing a wrong narrative and you know it very well. The Ukraine Gorv is puppet of the West and has been killing its own citizens who speak Russian language. Why are you leaving that out? SO, when Russians are dying is not a problem?
@@jacobjorgensen9922 You seem confused about the concept of colonization. Read about the colonization of Africa, N America, South America, Australia almost the entire planet by NATO countries and make sure you actually understand the definition. Russia has not done this to any of these countries??
Let's hope they do it.
Let's team up! 🎊
Anything that is breaking the Anglo Saxon hegemony is a threat to it. Asking the obvious, is somewhat irritating, if not intellectually dishonest of historical facts.
Exactly. They are playing dumb.
As an American, I hope BRICS succeeds. I hate this evil dollar system.
Good job❤❤
Hopefully (for mankind's sake) they will find success.
The discussion by the guy from Britain us clearly show the difficulties in the west to accept that they are being dropped
I came in to make this comment.
It's about time someone put an end to imperial america dominance. Soon everyone will used BRICS currency which is back by gold, oil, minerals etc. Us dollars is back by printing machines.
支持你。是时候结束可恶的美国和西方时代了😂😂 加油 👍👍
BRING. IT. ON.
Thanks to 4ra, losing doesn't feel so bad when we're together. We support each other and look forward to the next game.
I am sure that I have read this headline 50 times or so
G7 has already lost. This grouping of the biggest debtor nations are bankrupt as the multipolar alliances, a grouping of richest creditor nations are turning to currency swap to fuel their economy. Dedollarizing all G7 currency is a unstoppable trend.
China is the most indebted nation on the planet and its currency is the most manipulated on the planet.
The autocracy isn’t the way.
@@stefanrz_ Isolation isn't the way
@@logician3641 actually USA is the most indebted one.
@@logician3641 get your facts straight, have you seen the US debt?
Will USA be a challange to BRICS? Yes
BRICS is an alternative to weatern hegemony, not a direct replacement.
Who's the guy peaking threw the flags on the thumbnail hilarious 😂
Brics ❤❤❤❤❤
just be careful, including more members is prone to different ideas and interests
Can anyone tell me where I can find statistics on exports and imports of industrial and agricultural countries, and their main economic partners?
Searching on Google. 😂
The game is getting bigger and stronger, history keeps writing as usual
"Who needs superheroes when you have the BRICS countries? They'll build bridges, ride unicorns, invent time machines, and conquer the world economy with their superpowers!"
Sure you can jest as much as you want but the hegemon is feeling the heat and the BRICKS are riding along with their movement attracting more and more countries to join the organization so it’s been a great success and it’s only the beginning surely the world is paying attention to what happens within the organization
Actually yes china and India combined makes more unicorns than usa
Many mis-characterization in the opening remarks. BRICK represents the fast growing economy than G7 which is declining, Expansion of the BRICS is due to many countries wanting to join not because it wants to increase the influence. The dedollarization is fueled by the US abuses its currency’s hegemony of sanction and endless money printing, not Russia.
🧂
It is my hope the USA pulls the dollar as the global reserve currency. I also hope the IMF/WB are closed down. It would be beneficial if the US Navy stopped patrolling trade routes on the high seas.
The IMF offers loans at a lower rate than China. China also builds infrastructure in Africa and Asia by using Chinese workforce with minimal local workforce. In some cases even bring their own chefs
@@agnescraig2912 True.
@@blafonovision4342 - Bye, Felicia!!!👋👋👋
@@aao449 Sadly, we can’t extricate ourselves overnight.