https://sputnikglobe.com/20230617/brics-expansion-us-led-organizations-have-lost-their-credibility-1111242377.html
BRICS Expansion: US-Led Organizations ‘Have Lost Their Credibility’
BRICS Expansion: US-Led Organizations ‘Have Lost Their Credibility’
Sputnik International
Non-members’ push for becoming part of BRICS can be partly explained by the group’s position on pro-multilateralism, Professor Fulufhelo Netswera of Durban University of Technology in South Africa, told Sputnik.
2023-06-17T10:54+0000
2023-06-17T10:54+0000
2023-06-17T10:54+0000
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Over the past few years, 13 states have applied to join the BRICS group, including Iran and Argentina in 2022, and 20 more have expressed an interest, among them Africa's largest country Algeria.BRICS, which includes Brazil, Russia, India, China and South Africa, is becoming more appealing to other countries not least because of its pro-multilateralism-related stance on geopolitical and economic matters, Netswera said.“While we are currently aware of 20 potential applicants for the BRICS membership, it is common knowledge that if the membership was opened up, many more countries would quickly line up,” the professor noted.He explained that the main reason for the popularity of BRICS as a multipolar organization is that the Washington-led groups “have over a long period lost their credibility.”He said that the proxy wars in Syria and Ukraine “can only devastate poorer nations while enriching the Military Industrial Complex and its shareholders” and that BRICS members “take a neutral stance when it comes to wars,” insisting “talk of wars and arming either side will not yield positive outcomes."“South Africa is currently facing serious pressure in this regard for not vilifying Russia but choosing to mediate a peace resolution,” the professor added, in an apparent nod to the conflict in Ukraine.He separately touched upon BRICS countries’ drive to reject the US dollar, a process which Netswera warned may take time.Even so, it’s already clear that “the US dollar is facing its biggest challenge ever and there is very high likelihood that it will never regain its historic position,” the professor concluded.
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https://sputnikglobe.com/20230616/growth-of-brics-could-accelerate-de-dollarization-1111210989.html
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brics members, brics expansion, non-members' drive to join brics, brics' drive to reject us dollar
brics members, brics expansion, non-members' drive to join brics, brics' drive to reject us dollar
BRICS Expansion: US-Led Organizations ‘Have Lost Their Credibility’
Non-members’ push for becoming part of BRICS can be partly explained by the group’s position on pro-multilateralism, Professor Fulufhelo Netswera, Executive Dean of the Faculty of Management Science at Durban University of Technology in South Africa told Sputnik.
Over the past few years, 13 states have applied to join
the BRICS group, including Iran and Argentina in 2022, and 20 more have expressed an interest, among them Africa's largest country Algeria.
BRICS, which includes Brazil, Russia, India, China and South Africa, is becoming more appealing to other countries not least because of its pro-multilateralism-related stance on geopolitical and economic matters, Netswera said.
According to him, BRICS proceeds from the assumption that each region has different needs, interests and economic pursuance that should be supported for mutual development.
“While we are currently aware of 20 potential applicants for the BRICS membership, it is common knowledge that if the membership was opened up, many more countries would quickly line up,” the professor noted.
He explained that the main reason for the popularity of BRICS as a multipolar organization is that the Washington-led groups “have over a long period lost their credibility.”
Netswera referred to the violation of the UN Security Council resolutions or “actions in their absence involving the Global West at wars in Iraq, Syria, Libya and countless coups overthrowing at times democratically elected presidents are imbedded in the minds of the people of the Global South and developing nations.”
He said that the proxy wars in Syria and Ukraine “can only devastate poorer nations while enriching the Military Industrial Complex and its shareholders” and that BRICS members “take a neutral stance when it comes to wars,” insisting “talk of wars and arming either side will not yield positive outcomes."
“South Africa is currently facing serious pressure in this regard for not vilifying Russia but choosing to mediate a peace resolution,” the professor added, in an apparent nod to
the conflict in Ukraine.
He separately touched upon BRICS countries’
drive to reject the US dollar, a process which Netswera warned may take time.
“The BRICS nations are already talking about the use of local currencies between themselves as well as considering the establishment of a new BRICS currency. Some of these ideas take time to form despite the growing impatience of the populations of the BRICS and from the Global South,” he said.
Even so, it’s already clear that “the US dollar is facing its biggest challenge ever and there is very high likelihood that it will never regain its historic position,” the professor concluded.
