🗺️ The emergence of BRICS is therefore more than a sign of the Global South's discontent and resentment towards the old structure, which is already in shambles.

It shows the reality of our world that is now in transition.

Declared to be a non-Western organisation but not against the West, members of BRICS come from different continents with different political and social systems, different religions and cultural and historical backgrounds.

This, by itself, is a manifestation of the fact that the World Majority favours multilateralism. Those obsolete thoughts and theories aimed at instigating or rationalising aggressive foreign polices to protect the hegemony of the rich and powerful are thereby out of date, writes Nelson Wong, President of the Shanghai Centre for RimPac Strategic and International Studies, for the 21st Annual meeting of the Valdai Discussion Club.

https://valdaiclub.com/a/highlights/crafting-a-structure-in-an-unstructured-world/

#valdai2024 #BRICS

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🪙 Global changes in the system of international relations, the main examples of which are the movement towards multipolarity and the increase in the weight of developing countries in world economy and politics, have become one of the signs of the current historical moment.

This trend is reflected, among other things, in the increased interest of countries in organisations without a dominant leader such as BRICS, which already unites 10 states representing 45% of the world's population.

It seems that a turning point has come when the association has a chance to show its significance and effectiveness in terms of solving issues that do not have only an economic but also an ideological dimension for the countries of the world majority.

Problems in mutual settlements between Russia and China can be solved by introducing the BRICS Pay system. Based on blockchain technologies, it can become an analogue of SWIFT for transactions in national currencies.

If Russia and China are able to resolve current difficulties by becoming pioneers in the field of cross-border digital mutual settlements, the development of the world economy has a chance to change its vector, the weight of developing countries will increase significantly, and strategic sovereignty will acquire real, not declared outlines, write Natalya Pomozova and Artyom Semenov.

https://valdaiclub.com/a/highlights/cross-border-payments-in-a-multipolar-world/

#Multipolarity_and_Connectivity #BRICS

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