BRICS: Building a New Global Order Beyond Dollar Dominance
22:23 10.07.2025 (Updated: 10:04 11.07.2025)
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BRICS: Building a New Global Order Beyond Dollar Dominance
“The BRICS people are taking some kind of a well-researched and knowledge-based initiative in trying to save themselves from this dollar dominance,” Dr. Costantinos Berhe Tesfu, Former Senior UN Policy Advisor, told Sputnik Africa.
US tariffs and sanctions threaten BRICS if they move away from the dollar, yet BRICS is confident with:
China’s economic rise
India catching up
Russia’s vast oil, gas, and minerals
Africa’s strategic resources and young workforce
“The WTO, as far as I'm concerned, is dead literally now… The BRICS nations will create their own version of the WTO.”
Post-Bretton Woods institutions (IMF & World Bank) remain G7-controlled; BRICS’ New Development Bank aims to change this.
Africa holds $21 trillion worth of minerals needed for AI and quantum computing. Strategic BRICS investment in African development could spark a China-like boom.
“The West will be forced to come to terms to create a multilateral world where we have multiple poles of development, multiple poles of power, and not just the kind of the first Cold War power dominated by the US.”
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