Translated by Alessandra Fumagalli
In a frenzy and delicate international context due to the elections in lots of countries this year, some nations, with some precise strategies, don’t intend to leave their plans to be changed.
Among these there are the BRICS countries, especially Russia. At the end of October, the BRICS’ Summit was held in Kazan (Russia): it was an occasion for Russia to underline their international and diplomatics connexions, but during the Summit it was able to introduce the ambition to make a de-dollarization true, in order to contrast the global order created by the United States after the Second World War and to establish its independence by it and the American currency.
Taking the occasion of showing its interventionist soul, often hazy by the American majesty, the Southern countries were particularly determined to act in order to limit Ukrainian and Middle East’s conflicts. Despite BRICS’ fame alluding to heterogeneity, rivalry and structural confusion, in this case, the countries pertaining to this association, which are growing, are determined to reform the global order in order to make it more inclusive and “less western”. That is one of BRICS’ political goals is to realize, through financial techniques, as Xi Jinping remarked during the Summit. He also underlined the urgency to reform the international financial system.
According to Russia, this goal represents a possibility to take in the sanctions regarding the paying international systems: the use of the local currency in the financial transactions among the BRICS and low-cost, rapid and inclusive cross border paying tools are, indeed implemented. The most important thing is to understand that among the beneficiaries of this news -exclusively for the same aim- there is another fundamental country: Iran.
BRICS’ aims could be collected in the “R5” currency: the name comes from the initials of the five main countries pertaining to the organization: Real, Ruble, Rupee, Renminbi and Rand, respectively Brasil, Russia, India, China and South Africa.
However, there was a Western presence that had been noted: António Guterres, UN General Secretary, took part in the Summit. The Ukrainian people, in particular, don’t appreciate it, because they felt that the intervention was a sort of appeasement, in order to gratify the most powerful, instead of defending the values and dignity of the oppressed ones, keeping back the tyrannies and condemning the atrocities. Guteresses was criticized for not being the spokesperson of the democratic values and justice and for bringing democracy and autocracy in the same table, without making any difference. In front of the BRICS -or even better, in the middle- the United Nations, as a symbol of democratic and western liberal values, were weak, uncertain and without a clear mission, they have indeed shown the current western fragility: this has reassured the Southern countries, that were able to feel their wishes nearer to their realization. On one hand, the Western democracies are often being brought to their knees, on the other hand, a subversive common front is growing stronger than ever.
It must be understood if BRICS’s decision and its alliances is a leap towards a new future global and financial order or rather a payback to the Gold Standard, considering that the symbol currency will be probably linked with gold value.
The USA post-elections has, however, dampened the enthusiasm: the newly elected President Donald Trump has immediately warned BRICS countries, intimating the disillusionment of materializing their subversive plans towards dollars, and threatening to impose duties with 100%. It will be interesting to understand if BRICS will satisfy their wishes, aware of a new more united approach or if they will prefer avoiding the conflict with th western power and the following consequences.
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