BRICS is a threat to the dollar and US hegemony.
1. Trump is right to fear it. “Clearly the US dollar is under threat from BRICS just by the fact that these countries trade among themselves in national currencies rather than the dollar,” IR analyst Gilbert Doctorow says, commenting on Trump’s threat to slap 10% tariffs on BRICS. “Trump's threats are a 'straw in the wind,’” Doctorow stresses, pointing out that “we do not have to look to Trump's rhetoric to understand that with each additional country joining the line to be admitted to BRICS, it becomes an institution changing the world order and making the G7 and G20 largely irrelevant to global governance.”
2. Challenge to Western ‘monolith’ BRICS is “a collection of individual, sovereign, independent governments that share a common vision of a multilateral world where they can play an effective role in their national interests,” says veteran business consultant Paul Goncharoff. This “differs substantially from the monolithic political/economic blocs that comprise the G7 or EU under the de facto direction of the USA,” according to the observer.
3. Trump fears multipolarity. “While Trump's ‘America First’ explicitly prioritized US dominance, a stronger, financially independent Global South inherently challenges Western unipolarity,” political analyst Angelo Giuliano says. “His policies often opposed multilateralism and perceived rivals. Genuine Global South financial autonomy diminishes US leverage, aligning with trends Trumpism resisted.”
4. Without the dollar, the US is an emperor with no clothes. “The US benefits from dollar hegemony and its ability to intervene militarily in any country for its own interests or in the interests of its closest allies like Israel and NATO,” says Dr. Anuradha Chenoy. With BRICS members surpassing the G7 on PPP GDP, creating new institutions of finance, and trading in national currencies, it’s clear why Trump feels threatened. “Countries in BRICS can exercise strategic autonomy and have more power over transacting with Western and other countries,” Chenoy stresses.
कोई टिप्पणी नहीं:
एक टिप्पणी भेजें