2024 BRICS Summit Showed Collapsing Western Hegemony

A recent BRICS summit in Russia’s Kazan showed that the group “has transformed from a limited bloc into a force with international political and financial clout,” Zakaria Hammoudan, the head of the Lebanese National Institute for Research and Statistics, told Sputnik.

"BRICS is important because it creates a new multipolar world order, helping to weaken the hegemony of Western countries and traditional financial institutions, such as the IMF [International Monetary Fund] and the World Bank," he added.

BRICS’ plans to introduce a single payment system could reduce the negative impact of Western sanctions against a number of countries, according to the analyst. He stressed that "momentous decisions, such as the introduction of a [single] new currency, require absolute support" of all BRICS members to counter the dollar's hegemony in the global economy.

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Hammoudan pointed out that BRICS activities can also “strengthen global security through cooperation in areas such as fighting against terrorism and cybercrime, providing an alternative to the security system led by Washington and the West, and reducing the dependence of a number of countries on Western organizations such as NATO."

In a separate interview with Sputnik, Dmitry Suslov, deputy director of the Center for Comprehensive European and International Studies with the National Research University Higher School of Economics, said that the BRICS summit in Kazan received “unusually extensive” international media coverage.

He noted that all Western media outlets had covered the summit, which Suslov said is a "serious" factor. "They came to realize the fact that they are gradually losing ground because a new system is being formed that is beyond their control. The fact that the summit was attended by delegations of so many countries, with many of them seeking to join BRICS, means that the Western hegemony is collapsing," Suslov stressed.

He added that in Western countries, there is a sense of anxiety and awareness that “BRICS is a serious organization, rather than something virtual that will fall apart tomorrow.”

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Suslov said that apart from Western media, he kept a close eye on the website of China’s Global Times news outlet, which focused on the BRICS summit but gave trivial attention to the upcoming US presidential election. “Here is an example of how the BRICS summit was treated in the non-Western world. In terms of significance for issues of world politics and international relations, the BRICS summit is, of course, more important than the US election,” the analyst concluded.

He was echoed by Christian Lamesa, Argentina-based analyst and ambassador of the Russian society "Knowledge", who told Sputnik that the BRICS summit showed that the US and Europe have failed to isolate Russia.

“Despite attempts by America and Europe to isolate Russia through sanctions and other restrictive measures, the BRICS summit in Kazan proved that Russia is not only not isolated, but a real world leader along with China and other countries that form BRICS,” Lamesa emphasized.

He added that BRICS’ strength and potential expose the fear of the US and Europe of losing hegemony, and their belief that "the White House can rule the rest of the world without any objections." According to Lamesa, unlike the US and Europe, BRICS represents a multipolar world in which the logic is completely different, namely, it is a logic of cooperation based on mutually beneficial terms, as well as respect for the culture and traditions of each member country.

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2024 BRICS Summit Showed Collapsing Western Hegemony – Experts