The President of France, Emmanuel Macron, cautioned the U.S. and Europe, saying that the world order is changing after the BRICS expansion. Macron warned that the new BRICS alliance could weaken the West and Europe and turn the tides in their favor. He added that the global financial situation is getting “tougher” as BRICS countries become more “complex” to trade with.
Also Read: US & Europe To Pay in Local Currencies For Oil After BRICS Expansion?
The latest BRICS expansion runs the risk of “weakening the West and Europe in particular”, said Macron to French Ambassadors in Paris. “Our international order is being challenged,” he said referring to BRICS using local currencies for trade settlement.
BRICS Expansion Could Dethrone the US & Europe, Warns France’s Macron
France settled an LNG gas trade with China in March by paying the Chinese Yuan and not the US dollar. BRICS members China, Russia, and India are convincing other countries to ditch the US dollar and settle payments in local currencies. The development could hamper the prospects of the US and the West in general tilting financial power to developing nations.
Also Read: BRICS Officially Agrees To Stop Using the US Dollar
“Our international order is being challenged,” stressed Macron. He highlighted that several countries are creating trade policies fueled by anti-colonialism. “War has returned to European soil, anti-French sentiment is rife, fueled by anti-colonialism or a perceived anti-colonialism that a double standard is being employed,” he said.
“The world order is changing, with the situation getting tougher and more complicated,” he said. The French President added “We need to be clear, without being excessively pessimistic and be wary of the new forms of protectionism. We should also stand for our principles and our values, which are universal,” Macron summed it up.
Also Read: BRICS: US Hits Back at Russia, Looks to End Dependency on Uranium Hold
Macron had requested to attend the BRICS summit but his application was turned down by China and Russia. The alliance believes that Macron wants to gain inside information about the BRICS summit and sabotage its upcoming policies.