this is great information. stuff any business leader should be aware of as they plan for the future.
Does anyone have any idea how the BRICS+ group ties into the WEF? or is there a connection there?
I know that China has a large bidirectional influence with the WEF...any other countries in this group in the same boat, or would the BRICS+ also take down the WEF?
As far as I've heard, the major loyalty of most BRICS+ members is to liberating the developing world from Western domination and exploitation. I suspect the WEF is likely seen too G7-centric to want to link with it in any substantive way.
Just yesterday, the Bank of International settlements threatened to shutdown its MBRIDGE experiment - a new blockchain settlement mechanism for currencies other than the US dollar. I suspect the BRICS+ nations will decide that all Western-dominated institutions - the BIS, the IMF, the World Bank, perhaps even the UN - are fundamentally untrustworthy, and that BRICS alternatives to each must be built. The more the West shows itself as unwilling to share power, the more the BRICS+ countries will be tempted to go their own way.
Thank you. If I were to add a caution to what I said in this post, it would be that several BRICS+ members are still sitting on the fence. Brazil is still linked enough to the US that it vetoed Venezuela as a new member. If, this time next week, Donald Trump is the President-elect, I suspect Brazil will back away from the US. Though India is quickly becoming a stronger force in BRICS+, it still wants to be seen as neutral, as do Turkey and Saudi Arabia.
My take is the only way to create an alternative to SWIFT is to not do it as an official BRICS+ action. Start with a platform for Russia, China and Iran, and build out from there. Ditto for a dollar alternative. How about calling it the G-BUC? (Gold-backed unit of currency.)
Very informative! One copy-edit: you seem to have left out the S of BRICS (South Africa) in your list of members.
Thanks, I will correct that!
this is great information. stuff any business leader should be aware of as they plan for the future.
Does anyone have any idea how the BRICS+ group ties into the WEF? or is there a connection there?
I know that China has a large bidirectional influence with the WEF...any other countries in this group in the same boat, or would the BRICS+ also take down the WEF?
As far as I've heard, the major loyalty of most BRICS+ members is to liberating the developing world from Western domination and exploitation. I suspect the WEF is likely seen too G7-centric to want to link with it in any substantive way.
Just yesterday, the Bank of International settlements threatened to shutdown its MBRIDGE experiment - a new blockchain settlement mechanism for currencies other than the US dollar. I suspect the BRICS+ nations will decide that all Western-dominated institutions - the BIS, the IMF, the World Bank, perhaps even the UN - are fundamentally untrustworthy, and that BRICS alternatives to each must be built. The more the West shows itself as unwilling to share power, the more the BRICS+ countries will be tempted to go their own way.
Great information! Thanks.
Thank you. If I were to add a caution to what I said in this post, it would be that several BRICS+ members are still sitting on the fence. Brazil is still linked enough to the US that it vetoed Venezuela as a new member. If, this time next week, Donald Trump is the President-elect, I suspect Brazil will back away from the US. Though India is quickly becoming a stronger force in BRICS+, it still wants to be seen as neutral, as do Turkey and Saudi Arabia.
My take is the only way to create an alternative to SWIFT is to not do it as an official BRICS+ action. Start with a platform for Russia, China and Iran, and build out from there. Ditto for a dollar alternative. How about calling it the G-BUC? (Gold-backed unit of currency.)