In a particularly well-established geopolitical context, BRICS is gradually forging a place as a notable disruptor. This grouping of emerging nations is increasing its economic power with an intensity that continues to mount the pressure. This trend is redefining the balance of power on a global scale, and some states like France seem to have no intention of remaining mere observers.
Precursors of France’s interest in BRICS?
Will France be the first European state to join the BRICS? The question may be laughable because France is still one of the greatest economic powers in the world.
However, this question is not without relevance.. Indeed, some recent events suggest that France could join this coalition of countries, with growing economic power.
Among these events, we can cite recent statements by French President Emmanuel Macron. The leader notably called on his fellow members of the European Union to resist. A resistance to the tendency of the old continent to follow the dynamics dictated by the country of Uncle Sam.
This policy of resistance would consist, for Europe, in not getting involved in crises that are not its own. A reference to the risk of the United States of defaulting on its debts. Situation which, according to him, aggravates the risks on the American dollar vis-à-vis which Europe must work to limit its dependence.
As a result, France is turning less and less to the US dollar. For example, in March it used Chinese yuan rather than dollars to pay for a liquefied natural gas (LNG) contract with China.
It was the first time that a European country, an ally of the United States, carried out a major transaction via the currency of its rival. This development, which is not insignificant, says a lot about the geopolitical war played against America.
It is also possible that this dynamic contributes more quickly than expected to the fall of the dollar. According to Anil Sooklal, the South African ambassador to BRICS, several European countries would consider following in France’s footsteps.
Are these part of the major changes that Arthur Hayes announced as being able to influence the prices of cryptos and particularly bitcoin? This development should be followed very closely.
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