Why the Global South Will Upend the World Order
BRICS has a high probability of forming their own currency in the 2020s.
Hey Everyone,
I need to get something off my chest. One of my visions for dystopia is actually rather likely to come about. It’s an economic and monetary culmination of the geopolitical East-West rivalry. Here a new world order is asking to be born and will have population and the developing world on their side (global south).
I’ll just spell out what I’m thinking.
The U.S. dollar will be displaced as the global reserve currency. And here is how it comes about.
The BRICS alliance is exploring the creation of an innovative currency, with plans to share proposals on its establishment at the forthcoming summit in South Africa, according to Alexander Babakov, deputy chairman of Russia's parliament, the State Duma.
China
Brazil
India
China
South Africa joined by:
Saudi Arabia
Argentina
Iran
Indonesia
Turkey and Egypt.
I believe that when the Chinese leader met with the Russia leader recently this was on the agenda. Saudi Arabia is on board, India will have to follow.
This will mean more authoritarian states will build their own financial, economic and monetary moat against the U.S. dollar, and it could be a gigantic event in world history, mark my words.
A top Russian official has reportedly claimed that the countries of the BRICS alliance — Brazil, Russia, India, China and South Africa — are working on creating their own currency.
So apparently State Duma Deputy Chairman Alexander Babakov made the comments at the St. Petersburg International Economic Forum event in New Delhi, India, according to local reports.
Babakov said that the plan is to initially transition to using domestic currencies in transactions and then introduce and circulate a digital or alternative form of a groundbreaking currency in the near future.
BRICS is more than just a few countries, it’s the entire Global South. China has spend decades building ties with South East Asia, Africa, South America and even Eastern Europe. This has all been in the works for many years.
If enough countries join the new currency, it could topple the U.S. dollar as the global reserve currency and usher in a new era with alternative rule of law. It would isolate the old world of Europe and North America and the Western alliance.
"The transition to settlements in national currencies is the first step. The next is to facilitate the circulation of digital currency or any other fundamentally new form of currency in the near future," the deputy chairman said.
When we talk about a NWO we don’t always know what factually we are talking about.
Babakov anticipates that the BRICS leaders summit will reveal a preparedness to implement this particular initiative, with work on the project ongoing, news agency Sputnik reported. As more countries break with the West to buy cheaper Russian oil like India and Japan, something weird is in the works. China is orchestrating a coup in geopolitical balance. Russia might become a vassal state of China in this context.
Recently Chinese Foreign Minister Qin Gang urged Japan not to support U.S. curbs on China’s semiconductor industry. Meanwhile Chinese ships broke into disputed Japanese waters. Intimidation by China and this BRICS alliance could overthrow global order as we know it in the 2030s.
According to the reports, several nations, such as Argentina, Iran, Indonesia, Turkey, Saudi Arabia, and Egypt, have expressed their intention to become part of this economic bloc. I have not seen much evidence of this, so I’m not quite sure. I believe Brazil is decidedly in the camp with China, against the United States. India and Japan at a certain point must choose with the side that’s closer to them geographically.
The BRICS economic bloc brings together Brazil, Russia, India, China and South Africa, which has been granted the BRICS presidency for this year.
The next summit of the group is scheduled to be held in South Africa in August this year.