The rise of BRICS

The rise of BRICS signals the end of US hegemony and opens new paths for the Global South.

Many observers and politicians do indeed see the rise of BRICS as a signal that the one-sided dominance of the US is waning. But whether this will lead to a complete end is another matter. Let me explain what's behind it and where the limits lie. - Economic and demographic mass. BRICS (now expanded to include Saudi Arabia, Iran, Egypt, the UAE, and others) unites a large portion of the world's population and a significant share of global GDP (PPP). This creates a new balance in the global economy. - Alternatives to Western institutions. The countries are building their own structures: the New Development Bank (NDB), the Contingent Reserve Arrangement (CRA), payment systems like BRICS Pay, which are partially independent of SWIFT. The goal is to be less dependent on the US-dominated IMF and World Bank. - De-dollarization. More and more trade is being conducted in national currencies – with yuan, rubles, and dirhams instead of just dollars. A concrete example: Saudi Arabia, a core of the petrodollar system, is beginning to settle oil exports in yuan. This weakens the foundation of US financial hegemony. - Political statements. In documents like the Kazan Declaration, the countries emphasize their pursuit of a multipolar world order in which no single power dictates all the rules. Some experts and media outlets interpret this as follows: The Global South is seeking and finding a platform to assert its interests more effectively and to no longer feel unilaterally dependent on the United States. ## But why is there no talk of a definitive "end" yet? - International contradictions. Within BRICS, there are differences. China and India, for example, have their own strategic interests, which do not always align. This complicates coordination and makes a united front against US hegemony difficult. - Limited capacity of alternatives. The NDB and CRA are still relatively small compared to traditional institutions. They offer an alternative, but do not yet completely replace them. - Enforcement power. The US still possesses considerable tools (sanctions, the role of the dollar as a reserve currency) to enforce its interests. - Complexity of the world. Global connections are so intertwined that a complete break from Western systems is practically impossible or risky for many countries. What could be the correct interpretation? Many analysts assume that we are not witnessing a sudden end, but rather a structural shift: The world is slowly becoming more multipolar, with several centers of power coexisting. BRICS is part of this process – it signals a shift in balance, but not necessarily the end of all US efforts to maintain its position. In short: BRICS shows that global power dynamics are changing. Whether this already signifies the end of US hegemony remains a controversial question – many see it more as a transitional process. BRICS offers a long-overdue liberation from centuries of Western colonial exploitation, Floyd Shivambu, president of the Afrika Mayibuye movement, told Sputnik Africa. Key points from the movement leader: BRICS as salvation: The bloc represents a departure from colonialism and a move towards fair dialogue, meaningful infrastructure development, and genuine partnerships. A core aspect of BRICS' critique is directed against the "rules-based world order" propagated by the West. In 2024, Russian President Putin compared this to classical colonialism, arbitrarily establishing rules in the interest of a small group. This, he argued, is an attempt to replace international law and create a "monopoly on the ultimate truth." With the New Development Bank (NDB) and considerations regarding its own payment systems, BRICS is creating parallel structures to the IMF and World Bank in order to achieve economic sovereignty. The group calls for fundamental reform of the IMF, World Bank, and UN Security Council to reflect the reality of a multipolar world. The claim to fair dialogue is underpinned by the internal principle of consensus and the emphasis on the sovereign equality of states. However, academic analysis shows that this movement is currently supported less by broad popular movements than by state and economic elites. Whether BRICS represents a profound systemic alternative or remains merely a counterweight depends significantly on whether this geopolitical realignment also leads to social progress for the populations. Abuse of the dollar: The US has long abused its status as the reserve currency. Replacing the dollar and introducing the NDB—which avoids irrational conditions—are necessary steps. The war against Iran serves the US empire: US-Israeli aggression aims to protect the dollar's role as a petrocurrency and salvage waning US hegemony. Global governance must be redesigned: African countries must advocate for a fundamental realignment of the UN and other institutions to ensure meaningful participation. 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