On Tuesday August 22, the 15th BRICS summit opened in Johannesburg, South Africa. This annual conference takes place this year in a tense economic and geopolitical context. On this occasion, Xi Jinping and Vladimir Putin reaffirmed their position which is to put an end to the logic of blocs.
BRICS challenge dollar dominance
We have known for several months that the BRICS want to put an end to the hegemony of the dollar in international transactions. There is plenty of evidence for this approach. For example, there was the announcement by the group of a common currency project, which was finally abandoned.
Recently, the BRICS countries announced the change of their monetary policy to no longer submit to the dollar. An idea which resonates with certain countries which, to settle their operations, have resorted to the Chinese yuan.
In their speeches respective positions at the BRICS summit, the Russian and Chinese leaders have reaffirmed this ambition. The latter would be one of the ultimate goals of the organization. By reducing the influence of the dollar, this group of countries wants to bring a certain balance in the relations between the States.
“We oppose any form of hegemony and the exceptional status to which some countries aspire, as well as the new policy that stems from it, a policy of continuous neocolonialism”said Russian President Vladimir Putin.
The opinion of the tenant of the Kremlin barely veils the reference made to the United States and its currency. Putin confirms the will to put an end to the hegemony of the dollar which assures New York, its “exceptional status”.
Xi Jinping, the leader of the Middle Kingdom, obviously agrees with Putin. “People of different nations yearn for an open, inclusive, clean and harmonious world that guarantees lasting peace, universal security and shared prosperity. It represents the logical progression of history and the dominant trend of our times,” said the Chinese president.
Towards “BRICS Plus” to ring the end of the dollar?
The respective speeches of Vladimir Putin and Xi Jinping essentially agree on one point. The one that consists in saying that the march towards the exit of the dollar is resolutely engaged.
The process also seems inexorable, particularly because of the desire to join the BRICS. Evidenced by the fifty states participating in the summit. This is demonstrated above all by the applications for membership that the organization intends to support and promote within the framework of the BRICS PLUS.
“We will strengthen the BRICS strategic partnership, expand the ‘BRICS PLUS’ model, actively explore membership expansion, deepen cooperation with other Emerging Markets and Developing Countries (EDMCs), advance global multipolarity and strengthen democracy in international relations. This will contribute to a fairer and more equitable international order”said the Chinese leader.
According to the latest news, several states have officially joined the BRICS PLUS. And not least. Mention is made in particular of countries such as Saudi Arabia, Egypt, Iran and the United Arab Emirates. All oil-producing states that want to weigh in on global geopolitics.
Other countries such as Ethiopia and Argentina are also mentioned. Two countries like those mentioned above are part of the forty states that have expressly requested to join the organization.
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