BRICS Appeal to Disgruntled Countries is Growing Says Ex-World Bank Executive

Joshua Ramos
BRICS nations leaders

The last few months have seen a massive shift in the global economic landscape. Within that, one former World Bank senior vice president has said the BRICS appeal to disgruntled countries is growing.

Following de-dollarization efforts that have taken hold, BRICS nations have been clear in their desire to reestablish the order of global power. Moreover, in a new article, former World Bank executive Ana Palacio discussed the allure of the alliance. Specifically, why nations that feel left out have held firm to their ideals.

BRICS Nations Appeal is Unquestioned

BRICS World Bank
Source: / Lintao Zhang/Getty Images

The annual BRICS summit is on the horizon, and the question of expansion will undoubtedly lead the discussions. Moreover, the alliance is potentially set to grow, with more than 20 countries requesting membership. Specifically, the BRICS bloc’s appeal to disgruntled countries is growing, according to one former World Bank executive.

“Developing countries are angry about the burdensome conditionality that has been imposed on them by Westend-dominated institutions,” Palacio stated. “They are sick of what they perceive as double standards on vital policy matters, such as the green transition.”

brics leaders flags countries

“They are unwilling to tolerate efforts to contract their economies through conservation demands or limits on technology sharing.” Additionally, stating that the West’s political stranglehold on global economics has driven the shift. As these nations are seeking leadership away from this common practice.

“With the West’s pledges to pursue reform having come to nothing, potential alternatives—from development banks to currencies—look increasingly attractive to those who feel left out,” she added. “The BRICS are attempting to build a new world order, ‘bric by bric’ and the appeal of their cause among other disgruntled countries is growing.”