https://en.sputniknews.africa/20230519/g7-countries-see-prospect-of-multipolar-world-as-dangerous-undesirable-says-expert-1059353228.html
G7 Countries See Prospect of Multipolar World as 'Dangerous' and 'Undesirable', Says Expert
G7 Countries See Prospect of Multipolar World as 'Dangerous' and 'Undesirable', Says Expert
Sputnik Africa
Western governments are worried about the potential expansion of BRICS because it would lead to the creation of a multipolar world, which means the presence of several influential power centers competing in international relations
2023-05-19T18:06+0200
2023-05-19T18:06+0200
2023-08-03T10:48+0200
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Western governments are concerned about the potential expansion of BRICS because it would lead to the creation of a multipolar world, Souhila Berrahou, a doctor of economics and researcher in international relations at the National Superior School of Political Science in Algiers, told Sputnik.Berrahou believes that such a situation in global politics often forces states to align themselves with one or two dominant blocs. Commenting on BRICS candidates' criticism of the G7 countries for their double standards on political issues and Western norms and values in general, Dr. Berrahou emphasized the importance of the BRICS group in the global economy, highlighting opportunities for investment, trade and cooperation.Moreover, she warned against possible retaliation against sovereign decisions of countries seeking technical assistance and diplomatic cooperation, as such actions could undermine the values of free trade and democracy.Berrahou also addressed concerns about the possibility of the launch of a common currency for the BRICS at the upcoming group-of-five summit in August. The researcher highlighted the strength of the US dollar due to its exchangeability and its status as a reserve currency. According to the economist, the dollar is a dominant currency in the international financial system, and its abandonment could affect economic stability and trade relations between countries, leading to increased exchange rate volatility and economic challenges for countries that rely heavily on the dollar for trade.
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G7 Countries See Prospect of Multipolar World as 'Dangerous' and 'Undesirable', Says Expert
18:06 19.05.2023 (Updated: 10:48 03.08.2023) Muhammad Nooh Osman
Writer/Editor
A recent Japanese media report revealed that the prospects of the expansion of the grouping of Brazil, Russia, India, China and South Africa (BRICS), which has been growing in economic power and influence in recent years, are worrying the Group of Seven (G7) countries.
Western governments are concerned about the potential
expansion of BRICS because it would lead to the creation of a multipolar world,
Souhila Berrahou, a doctor of economics and researcher in international relations at the National Superior School of Political Science in Algiers, told
Sputnik.
Berrahou believes that such a situation in global politics often forces states to align themselves with one or two dominant blocs.
"In the case of the G7 countries, the prospect of a multipolar world is seen as both dangerous and undesirable. This is because countries seeking to join the BRICS would be building alliances with like-minded nations or other regional powers."
Souhila Berrahou
Doctor of economics, researcher in international relations
Commenting on BRICS candidates' criticism of the G7 countries for their double standards on political issues and Western norms and values in general, Dr. Berrahou emphasized the importance of the BRICS group in the global economy,
highlighting opportunities for investment, trade and cooperation.
Moreover, she warned against possible retaliation against sovereign decisions of countries seeking technical assistance and diplomatic cooperation, as such actions could undermine the values of free trade and democracy.
Berrahou also addressed concerns about the possibility of the launch of a common currency for the BRICS at the upcoming group-of-five summit in August. The researcher highlighted the strength of the US dollar due to its exchangeability and its status as a reserve currency.
According to the economist, the dollar is a dominant currency in the international financial system, and its abandonment could
affect economic stability and trade relations between countries, leading to increased exchange rate volatility and economic challenges for countries that rely heavily on the dollar for trade.
"If the reference to the dollar were removed, it is possible that trade would seek safer regions as an alternative to protect a significant portion of the global economy. When economic and financial conditions become uncertain, economic actors tend to look for stable and reliable areas in which to do business," Berrahou said. "In this context, the BRICS currency could become an attractive choice for international trade."
