【48812】BRICS can help promote a fairer world order
BRICSisfocusedonbuildingafairerworldorderfortheGlobalSouth.TheUnitedStatesanditsWesternallieshavelongdominatedtheworldorder,imposingtheirownvaluesandpoliciesontherestoftheworldinthenameofpromoting"democracy"and"defending"humanrightswhilesmearingcountrieswhosepoliticalsystemsaredifferentfromtheirs.Worse,theyhavebeenbullyingsomeemergingmarketanddevelopingeconomies,forcingthemtotakesidesindisputeswithcountriesthatdon'tadheretotheWestern-centricideologyandpolicies.
Thereisnojustificationforkillinginnocentcivilians,whetherbyHamasorIsraeliforces.BothHamasandIsraeliforcesshouldbecondemnedfortheiractions.However,theGlobalSouthhasbeenwitnesstotheUS'doublestandard,asseeninitssupportforIsrael'sinvasionoftheGazaStripdespitepressuringtheGlobalSouthearliertotakesidesandcondemnRussiaforitsactionsinUkraine.
TheUSevenvetoedaUnitedNationsSecurityCouncildraftresolutionforanimmediatehumanitariancease-fireintheIsrael-Palestineconflict.ThirteenSecurityCouncilmembersvotedinfavourofabriefdraftresolutionputforwardbytheUnitedArabEmirates,whiletheUnitedKingdomabstained.Clearly,warisabusinessforsomeWesterncountrieswhichspendhundredsofbillionsofdollarstoadvancetheirinterestsbothathomeandabroad.
Incontrast,China,throughitsGlobalSecurityInitiative,hastakenmultiplestepstofulfilitscommitmenttoglobalpeaceandsustainabledevelopment.ItisduetothearduouseffortsofChinathatIranandSaudiArabiare-establisheddiplomatictiesonMarch10,2023,sevenyearsafterseveringties.
TheGlobalSouthwantstoimprovetheexistingworldorderbecauseitisunfairandWestern-centric.Withthereformoftheworldorderhighonitsagenda,theBRICSmemberstates,whichnowcomprisethefiveoriginalBRICSmembers(Brazil,Russia,India,ChinaandSouthAfrica)andfivenewmembers(Egypt,Ethiopia,Iran,SaudiArabiaandtheUAE).AtthelastBRICSSummitinJohannesburg,SouthAfrica,inAugust2023,theoriginalBRICSleadersadmittedsixnewmembers—effectivefromJan1,2024—butArgentinarecentlyannounceditwouldnotjoinBRICSnow.
TheBRICSmemberstatestogetheraccountedformorethan40percentoftheglobalpopulationandover25percentofglobalGDP.Withfivenewmembers,BRICSwillfurthercounterbalancetheG7'sglobalinfluenceasitsshareofglobalGDPwillincreaseto36percentwhileitwillaccountfornearlyhalfoftheworld'spopulation.
Withmorethan30economiesreadytodeepenrelationswiththegrouping,BRICSiscommittedtostrengtheningtheGlobalSouthcoalitionasacollectiveforceandupholdingmultipolarisminordertohelpestablishaworldorderthatisnotdominatedbytheUSanditsallies.
TheinclusionoffivenewmemberswilladdtoBRICS'weight,extenditsglobalinfluenceandstrengthentradetieswithawiderangeofemergingmarketanddevelopingeconomiesbyestablishingafairpaymentsystemwhichcannotbeexploitedbytheUSanditsWesternallies.
TheweaponizationoftheUSdollarhashelpedWashingtonmaintainitsglobaleconomicandgeopoliticalsupremacy.TheUShasimposedeconomicsanctionsonnearly40countries,includingCuba,Russia,theDemocraticPeople'sRepublicofKorea,IranandVenezuela,apartfromlevyingsanctions,punitivetariffsandexportcontrolsmeasuresonChina,affectingnearlyhalfoftheworld'spopulationandcausinguntoldhardshipstoordinarypeopleinthosecountries,thushamperingtheireconomicgrowth.Thesearetheprimereasonswhymanyemergingmarketeconomieshavebeencallingforglobaltradetobeconductedincurrenciesotherthanthedollar.
IfBRICS'plantoadoptacommoncurrencytoconductglobaltradeissuccessful,itwillhaveahugeimpactontheUSdollarasadefaultinternationalcurrency,becausethe10memberstatesofBRICSaccountfor36percentofglobalGDP.Infact,acommonBRICScurrencycouldbeagame-changer;itcouldbreakthedollar'sglobalhegemonyandmakeiteasyforemergingeconomiestoconductfreetradeincurrenciesotherthanthedollar.
WhethertheUSanditsWesternallieslikeitornot,theworldorderischanging,andtheGlobalSouthisemergingasakeyplayerininternationalrelations.SotheUSanditsWesternalliesshouldheedtheGlobalSouth'sconcernsandhelpbuildaglobalgovernancesystemandfinancialarchitecturewhichbenefitsall.
TheauthorisadirectorofBRISL,anindependentandpioneeringSriLankan-ledorganization,withstrongexpertiseinBRIadviceandsupport.
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BRICS can help promote a fairer world order
BRICSisfocusedonbuildingafairerworldorderfortheGlobalSouth.TheUnitedStatesanditsWesternallieshavelongdominatedtheworldorder,imposingtheirownvaluesandpoliciesontherestoftheworldinthenameofpromoting"democracy"and"defending"humanrightswhilesmearingcountrieswhosepoliticalsystemsaredifferentfromtheirs.Worse,theyhavebeenbullyingsomeemergingmarketanddevelopingeconomies,forcingthemtotakesidesindisputeswithcountriesthatdon'tadheretotheWestern-centricideologyandpolicies.
Thereisnojustificationforkillinginnocentcivilians,whetherbyHamasorIsraeliforces.BothHamasandIsraeliforcesshouldbecondemnedfortheiractions.However,theGlobalSouthhasbeenwitnesstotheUS'doublestandard,asseeninitssupportforIsrael'sinvasionoftheGazaStripdespitepressuringtheGlobalSouthearliertotakesidesandcondemnRussiaforitsactionsinUkraine.
TheUSevenvetoedaUnitedNationsSecurityCouncildraftresolutionforanimmediatehumanitariancease-fireintheIsrael-Palestineconflict.ThirteenSecurityCouncilmembersvotedinfavourofabriefdraftresolutionputforwardbytheUnitedArabEmirates,whiletheUnitedKingdomabstained.Clearly,warisabusinessforsomeWesterncountrieswhichspendhundredsofbillionsofdollarstoadvancetheirinterestsbothathomeandabroad.
Incontrast,China,throughitsGlobalSecurityInitiative,hastakenmultiplestepstofulfilitscommitmenttoglobalpeaceandsustainabledevelopment.ItisduetothearduouseffortsofChinathatIranandSaudiArabiare-establisheddiplomatictiesonMarch10,2023,sevenyearsafterseveringties.
TheGlobalSouthwantstoimprovetheexistingworldorderbecauseitisunfairandWestern-centric.Withthereformoftheworldorderhighonitsagenda,theBRICSmemberstates,whichnowcomprisethefiveoriginalBRICSmembers(Brazil,Russia,India,ChinaandSouthAfrica)andfivenewmembers(Egypt,Ethiopia,Iran,SaudiArabiaandtheUAE).AtthelastBRICSSummitinJohannesburg,SouthAfrica,inAugust2023,theoriginalBRICSleadersadmittedsixnewmembers—effectivefromJan1,2024—butArgentinarecentlyannounceditwouldnotjoinBRICSnow.
TheBRICSmemberstatestogetheraccountedformorethan40percentoftheglobalpopulationandover25percentofglobalGDP.Withfivenewmembers,BRICSwillfurthercounterbalancetheG7'sglobalinfluenceasitsshareofglobalGDPwillincreaseto36percentwhileitwillaccountfornearlyhalfoftheworld'spopulation.
Withmorethan30economiesreadytodeepenrelationswiththegrouping,BRICSiscommittedtostrengtheningtheGlobalSouthcoalitionasacollectiveforceandupholdingmultipolarisminordertohelpestablishaworldorderthatisnotdominatedbytheUSanditsallies.
TheinclusionoffivenewmemberswilladdtoBRICS'weight,extenditsglobalinfluenceandstrengthentradetieswithawiderangeofemergingmarketanddevelopingeconomiesbyestablishingafairpaymentsystemwhichcannotbeexploitedbytheUSanditsWesternallies.
TheweaponizationoftheUSdollarhashelpedWashingtonmaintainitsglobaleconomicandgeopoliticalsupremacy.TheUShasimposedeconomicsanctionsonnearly40countries,includingCuba,Russia,theDemocraticPeople'sRepublicofKorea,IranandVenezuela,apartfromlevyingsanctions,punitivetariffsandexportcontrolsmeasuresonChina,affectingnearlyhalfoftheworld'spopulationandcausinguntoldhardshipstoordinarypeopleinthosecountries,thushamperingtheireconomicgrowth.Thesearetheprimereasonswhymanyemergingmarketeconomieshavebeencallingforglobaltradetobeconductedincurrenciesotherthanthedollar.
IfBRICS'plantoadoptacommoncurrencytoconductglobaltradeissuccessful,itwillhaveahugeimpactontheUSdollarasadefaultinternationalcurrency,becausethe10memberstatesofBRICSaccountfor36percentofglobalGDP.Infact,acommonBRICScurrencycouldbeagame-changer;itcouldbreakthedollar'sglobalhegemonyandmakeiteasyforemergingeconomiestoconductfreetradeincurrenciesotherthanthedollar.
WhethertheUSanditsWesternallieslikeitornot,theworldorderischanging,andtheGlobalSouthisemergingasakeyplayerininternationalrelations.SotheUSanditsWesternalliesshouldheedtheGlobalSouth'sconcernsandhelpbuildaglobalgovernancesystemandfinancialarchitecturewhichbenefitsall.
TheauthorisadirectorofBRISL,anindependentandpioneeringSriLankan-ledorganization,withstrongexpertiseinBRIadviceandsupport.
Theviewsdon'tnecessarilyreflectthoseofChinaDaily.
Ifyouhaveaspecificexpertise,orwouldliketoshareyourthoughtaboutourstories,thensendusyourwritingsatopinion@chinadaily.com.cn,andcomment@chinadaily.com.cn.