How BRICS Is Challenging The West And Changing The Rules Of The Global Economy With Brazil In The Spotlight

Written by Ana Alice

Published on 24/01/2025 at 00:52

Updated on 24/01/2025 at 00:53

BRICS expande influência global, desafia o dólar e insere o Brasil como peça-chave em um novo cenário econômico multipolar. (Imagem: Reprodução/Canva/IA)

130 people reacted to this.

BRICS Is Changing The Rules Of The Global Economic Game. With The Inclusion Of New Members, The Block Challenges Dollar Hegemony And Promotes A Multipolar Financial Order, Putting Brazil In The Spotlight.

The world is witnessing an unprecedented economic transformation. Behind the scenes of a new financial order, a block of emerging countries is gaining prominence and shaking the foundations of the global system.

A question hangs in the air: Is it the end of dollar hegemony? At the epicenter of this movement is BRICS, a group formed by Brazil, Russia, India, China, and South Africa, which has recently expanded its influence by incorporating new nations such as Saudi Arabia, United Arab Emirates, and Iran.

With ambitious proposals such as dedollarization and strengthening local currencies, the block is shaping the future of international relations. But how far can BRICS go?

ARTICLE CONTINUES BELOW

The New BRICS: Historic Expansion And Challenges

BRICS, officially created in 2009, aimed to promote sustainable economic growth among its founding members: Brazil, Russia, India, and China. In 2010, South Africa joined the group, consolidating the name BRICS.

Starting in January 2024, new memberships expanded the block, including Saudi Arabia, United Arab Emirates, Iran, Egypt, Ethiopia, and Argentina (which later declined membership). This expansion has placed BRICS at the center of global discussions on economic governance.

Currently, BRICS members represent about 31.5% of global GDP and over 40% of the world population, according to CNN Brasil. This puts the group in a strategic position to challenge traditional institutions like the IMF and World Bank.

However, the diversity of interests among member countries still presents a significant obstacle to coordinating joint policies.

Dedollarization: The Boldest Movement Of BRICS

Among the most debated initiatives of BRICS is dedollarization, which seeks to reduce dependence on the US dollar in international trade.

Today, the dollar dominates about 88% of global transactions, according to the Bank for International Settlements (BIS).

This hegemony gives the United States disproportionate influence, allowing sanctions that deeply affect other nations.

In response, BRICS has encouraged the use of local currencies in bilateral transactions. For example, Brazil and China already use the yuan in a significant portion of their trade agreements, especially in the commodities sector.

Additionally, the New Development Bank (NDB), also known as the BRICS Bank, provides financing for infrastructure projects without relying solely on the dollar.

Dilma Rousseff, president of the NDB, stated during the Johannesburg summit in 2023: “We need a new global financial governance. The use of the dollar as a weapon is unacceptable.” Despite this, studies like the one from the Atlantic Council in June 2024 show that progress in dedollarization is still limited.

Brazil Center Stage

For Brazil, BRICS represents a chance to strengthen its global position and diversify its economic relations.

In 2023, China solidified its position as Brazil’s main trading partner, absorbing over US$ 70 billion in exports. This relationship has been vital for agribusiness and other sectors of the economy.

However, Brazil faces the challenge of balancing its participation in BRICS with its relations with the West. Robson Gonçalves, an economist from FGV, warns: “Being in BRICS does not mean antagonizing the West. Brazil needs to position itself as a diplomatic mediator.”

New Members: Strength Or Fragmentation?

The inclusion of countries like Saudi Arabia and Iran has brought robust economies into the block, particularly in the energy sector. However, the diversity of national agendas may complicate BRICS governance.

According to Roberto Dumas, a professor at Insper, the “success of the group will depend on its ability to align distinct interests.”

Geopolitics And The New Global Order

The BRICS also plays a crucial geopolitical role. Russia seeks to escape Western sanctions, while China uses the block to strengthen its Belt and Road initiative. Brazil, in turn, attempts to adopt a pacifist and multilateral foreign policy, seeking favorable bilateral agreements.

Future Of BRICS: Limitations And Possibilities

The future of BRICS will depend on its ability to overcome internal challenges such as economic inequalities and geopolitical tensions.

However, the opportunities are immense, including the development of an alternative to SWIFT and investment in technology.

Will BRICS be able to consolidate a new global economic order or will it be hindered by its own divergences?

143 Comments

most recent

older Most voted

Alex Martins

#119341

28/01/2025 06:27

É engraçado de ver as pessoas falando Brasil nação escravizada pelos EUA e nada verdade sempre foi escravizada pela esquerda e agora muito mais forte com Lula PT STF o povo sem caráter

Respond

Alex Martins

#119339

28/01/2025 06:25

Uma matéria que fala de um banco chamado Brics onde a presidenta é a Dilma 🤡 não é possível que tenha alguma vantagem ou benefícios para o país a não ser enganar e fooder tudo

Respond

Josias

#119149

27/01/2025 18:00

Estados Unidos , ninguém merece , escravidão a todas as nações, é o que eles querem e fazem

Respond

How BRICS Is Challenging The West And Changing The Rules Of The Global Economy With Brazil In The Spotlight

BRICS Is Changing The Rules Of The Global Economic Game. With The Inclusion Of New Members, The Block Challenges Dollar Hegemony And Promotes A Multipolar Financial Order, Putting Brazil In The Spotlight.

The New BRICS: Historic Expansion And Challenges

Dedollarization: The Boldest Movement Of BRICS

Brazil Center Stage

New Members: Strength Or Fragmentation?

Geopolitics And The New Global Order

Future Of BRICS: Limitations And Possibilities

Mother and daughter build a 70 m² house with more than 8,000 discarded glass bottles and impress with their creativity; known as the Casa de Sal, the property is located on Itamaracá Island, in Pernambuco.

Workers were opening a new road connection near the Marginal Tietê when they found, in the underground of the construction site, remnants of locomotives, wagons, and boilers from the 19th century linked to the forgotten history of Lapa.

Instead of burning or burying old tires, an American city is transforming about 2,000 of them into the street itself, paving its first sections with a quieter and more durable rubber asphalt.

China transforms desert-devastated area into the world’s largest artificial forest, planting trees for 60 years, blocking sand that reached Beijing, and creating a “green lung” of 92,000 hectares in a region once considered lost.

Greek island offers free housing for volunteers, but there’s a condition: you need to take care of rescued cats.

China has deployed snake-shaped robots to slide along power lines, where they have already inspected over 130 kilometers of cables using cameras and sensors to detect damaged wires, worn-out parts, and overheating.

Engineers want to carve through Africa with a giant canal to bring water from the world’s second-largest river to a dying lake on the edge of the Sahara Desert that has already lost 90% of its water.

Everyone complains, but everyone stops: Rede Graal charges R$ 20 for a coxinha, earns R$ 2 billion a year, and turned clean bathrooms, bus drivers, and hot bread into a billion-dollar machine on Brazil’s highways.

An entire city in Alaska needs to be moved stone by stone due to ice sinking in a mega relocation project that will cost hundreds of millions of dollars.

Elderly individuals may obtain essential documents without paying fees: a project that includes CIN, CNH, CPF, and work card advances in the Chamber, eliminates issuance and renewal charges, and leaves Brazilians waiting for decisive steps to see if the benefit will actually be implemented.

Cutting-edge engineering transforms an abandoned 88-meter-deep quarry into a luxury ‘earthscraper’ in China with submerged floors and geothermal energy.

Every 30 minutes, a flying car departs: a giant 120,000 m² factory in China has already started producing a six-wheeled vehicle with an electric aircraft at the rear.

How BRICS Is Challenging The West And Changing The Rules Of The Global Economy With Brazil In The Spotlight

BRICS Is Changing The Rules Of The Global Economic Game. With The Inclusion Of New Members, The Block Challenges Dollar Hegemony And Promotes A Multipolar Financial Order, Putting Brazil In The Spotlight.

The New BRICS: Historic Expansion And Challenges

Dedollarization: The Boldest Movement Of BRICS

Brazil Center Stage

New Members: Strength Or Fragmentation?

Geopolitics And The New Global Order

Future Of BRICS: Limitations And Possibilities

Mother and daughter build a 70 m² house with more than 8,000 discarded glass bottles and impress with their creativity; known as the Casa de Sal, the property is located on Itamaracá Island, in Pernambuco.

Workers were opening a new road connection near the Marginal Tietê when they found, in the underground of the construction site, remnants of locomotives, wagons, and boilers from the 19th century linked to the forgotten history of Lapa.

Instead of burning or burying old tires, an American city is transforming about 2,000 of them into the street itself, paving its first sections with a quieter and more durable rubber asphalt.

China transforms desert-devastated area into the world’s largest artificial forest, planting trees for 60 years, blocking sand that reached Beijing, and creating a “green lung” of 92,000 hectares in a region once considered lost.

Greek island offers free housing for volunteers, but there’s a condition: you need to take care of rescued cats.

China has deployed snake-shaped robots to slide along power lines, where they have already inspected over 130 kilometers of cables using cameras and sensors to detect damaged wires, worn-out parts, and overheating.

Engineers want to carve through Africa with a giant canal to bring water from the world’s second-largest river to a dying lake on the edge of the Sahara Desert that has already lost 90% of its water.

Elderly individuals may obtain essential documents without paying fees: a project that includes CIN, CNH, CPF, and work card advances in the Chamber, eliminates issuance and renewal charges, and leaves Brazilians waiting for decisive steps to see if the benefit will actually be implemented.

Paper money is disappearing from Brazilians’ pockets, with the issuance of new banknotes dropping by 31% from 2020 to 2025, amid the explosion of Pix, which became the most frequent payment method for 46% of the population, while cash plummeted from 42% to 22%.

Owner of Tok&Stok and Mobly raises alert in retail, sees debt exceed R$ 1 billion and rushes to court to try to save stores, jobs, and essential operations

China connects to the power grid the largest ultra-large battery storage station ever built in the world and signs a billion-dollar contract that consolidates a technology capable of sustaining entire cities with clean energy.

Everyone complains, but everyone stops: Rede Graal charges R$ 20 for a coxinha, earns R$ 2 billion a year, and turned clean bathrooms, bus drivers, and hot bread into a billion-dollar machine on Brazil’s highways.

An entire city in Alaska needs to be moved stone by stone due to ice sinking in a mega relocation project that will cost hundreds of millions of dollars.

Elderly individuals may obtain essential documents without paying fees: a project that includes CIN, CNH, CPF, and work card advances in the Chamber, eliminates issuance and renewal charges, and leaves Brazilians waiting for decisive steps to see if the benefit will actually be implemented.

Cutting-edge engineering transforms an abandoned 88-meter-deep quarry into a luxury ‘earthscraper’ in China with submerged floors and geothermal energy.

Every 30 minutes, a flying car departs: a giant 120,000 m² factory in China has already started producing a six-wheeled vehicle with an electric aircraft at the rear.