Automatically translated from Basque, translation may contain errors. More information here. Elhuyarren itzultzaile automatikoaren logoa

Western economic hegemony is increasingly weakened by the BRICS+ group

  • The BRICS+ summit has just passed in the Russian village of Kazan. It is a bloc of states that brings together Russia, China, India, Iran, Brazil, South Africa, Egypt, the United Arab Emirates and Ethiopia. It has a great economic weight and, furthermore, it has a great political strength, a structure that includes Russia, China and Iran. Surely that is why the Western media have kept secret what has been said and decided on at the top. We wanted to look closer at him.
Mendebaldeak baztertua eta bakarrik nahiko luke ikusi Errusia, baina Kazaneko gailurrean bestelako argazkia utzi dio Vladimir Putinek munduari: 30 bat estatu ordezkari izan ditu ondoan, baita NBEko idazkari nagusia António Guterres ere. Txina ere ukan du
Mendebaldeak baztertua eta bakarrik nahiko luke ikusi Errusia, baina Kazaneko gailurrean bestelako argazkia utzi dio Vladimir Putinek munduari: 30 bat estatu ordezkari izan ditu ondoan, baita NBEko idazkari nagusia António Guterres ere. Txina ere ukan du ondoan, aliatu handi gisa.BRICS+

Russia and China run the dance: "A new world emerges before our eyes. (…) The process of creating a multipolar world is underway," says Vladimir Putin, "the world is facing profound changes that have never been seen for a century." BRICS+ is the most important platform for solidarity and cooperation between new markets and developing countries," said Chinese President Xi Jinping. They are excerpts from the official speech of the sixteenth summit of the BRICS+ group held in Russia between 22 and 24 October.

The Kazan summit was an international event, fully covered, both by the West and by the rest of the world. Little or nothing insignificant mention in the West and recognition of the political weight of the quotation in the countries of the BRICS+ group and in general in the developing countries. Highlight the political and economic potential of the BRICS+ bloc, consisting of Brazil, Russia, India, China, South Africa, Egypt, Iran, the United Arab Emirates and Ethiopia for the latter and the diversity – and therefore non-cohesion – that exists within this bloc from Europe, the United States and Japan.

If not all the participants are so radical, Russia once again announced – a position supported by China and Iran – the goal of ending "Western hegemony". It appears that this was created in 2009 to give rise to "a new geopolitical reality", and in 15 years the idea remains clear. Ideas are clearer and more varied.

Putin has been an important quote for Russia, which since February 2022 has wanted to isolate and weaken the western blocs. The powerful message is that the summit of this group, which aspires to counterweight the West, has already been channelled in the same place – the previous year was mentioned in South Africa, but because of the arrest warrant against it, Putin stayed at home and had to follow by videoconference. The fact that they are organised and have appeared among some thirty delegated states has a great political weight. Russia’s message to the world, whether it is or not, has been as follows: "I'm not just as you would like. The meeting between UN Secretary-General António Guterres and Putin has also served him for this, as it has been the first face-to-face meeting approved since the beginning of the war in Ukraine.

In its creation, in 2009 it was given the acronym BRIC, referring to the Member States of Brazil, Russia, India and China, which became BRICS in 2011 with the incorporation of South Africa (South Africa), including those introduced this year: Egypt, Iran, Ethiopia and the United Arab Emirates – Saudi Arabia is there, half-fitted, but under the pressure of the EE.UU, in the lack of courage to enter completely. BRICS+ is an emerging international structure and we have proof of the list of 34 new states that have submitted their candidature. In fact, the acronym BRIC was already there. The economist Jim O'Neill used it in 2001 to underline the economic weight these four peoples have acquired alongside the powerful West. In a report for the investment bank Goldman Sachs, the acronym appeared and had its influence: trusting and positioning many investors in these four countries. Today, BRICS+ represents 30% of global GDP and 46% of the population.

Inevitable, even more so in green capitalism

In a climate emergency in which the economic financial strategy of green capitalism gains even more weight, the BRICS+ group becomes more powerful – and more worrying for the West. In particular, they have large reserves of minerals and metals essential for renewable energies, electric cars and the numerical economy. Imagine 97 percent of the world's platinum reserves, 72 percent of zinc, 72 percent of rare earths ... What to say if groups come in countries like Indonesia, Nigeria, Kazakhstan and Bolivia, which have submitted nominations. As we continue to exploit oil and gas, they have the major producers and exporters there. "With the development of production and the multiplication of possibilities, all the peoples of BRICS+ have a desire to secure the supply of their critical metals and to consolidate their status as producers. With regard to these strategic raw materials, BRICS+ offers them the possibility of bilateral relations between their members, without going through the traditional channels of international trade", can you read Les BRICS+: vers une domination sans limites sur les marchés des matières premières? (BRICS+: towards unlimited domination of the raw materials market?) report. In addition, aware of their wealth and, therefore, their power, they develop common reduction policies abroad, be they bans and levies, which "may call into question the security of supply of the strategic metals essential to the energy and technological resilience of Europe, the USA and Japan", according to IRIS.

Getting out of the dollar dependency

The international monetary system that controls and directs the West and weakens the dependence on the dollar are some of its main objectives, and they step by step in their commitment to that step. For example, in Kazan they developed the idea of creating an alternative society to the Swift international payment system, and Putin presented them with a ticket to show attendees and journalists that they are moving forward with the idea of a currency that would be BRICS+. There, let us say, Russia, China and Iran could avoid the sanctions imposed by Europe and the United States.

They also have the New Development Bank, which was set up at the sixth summit in history ten years ago. Without being able to deal with the damage of the International Monetary Funds and neoliberal agreements in the hands of the West, such as dependency, foreign debts, the imposition of austerity or the mandates not to deal with Russia, this alternative system is of great interest in Africa, South America, Asia and also in Europe. In the same sense, it is proposed to create a separate stock exchange for the cereals mentioned at the top. He has also been greeted with good eyes. In other words, many instruments and ideas have been heard in Kazan that would weaken the hegemony of the West, and the silence of the Western media has denounced many things to us. Yes, the BRICS+ group needs to be closely monitored.


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