BRICS is sharpening the axe to end the traditional financial world order that is dominated by the US and other Western allies. Developing countries are looking to create their own financial institutions by cutting ties with the US dollar. The traditional world order is being challenged by BRICS who want to dominate the global financial sector by putting an end to American supremacy.
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Russia’s President Vladimir Putin criticized the US and the West on Friday for demanding a “rules-based world order”. Putin slammed the West and warned that their domination would not last long. He stressed that the 16th BRICS summit in 2024 in the Kazan region of Russia will bring positive changes to the alliance.
BRICS: A ‘Fair World Order’ is Coming To End US Dollar Supremacy, Says Putin
In a criticism of the US, Putin warned that BRICS is working towards the formation of a “fair world order”. He explained that BRICS is moving “in the right direction” and will put an end to the American hegemony. The Russian president stressed that BRICS is committed to creating a new “fair world order.”
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“As for the ‘rules-based world order,’ there are no such rules. In reality, they change every day depending on the current political agenda and the transitory interests of those talking about it,” Putin said to Tass.
He explained that the 16th BRICS summit in 2024 will demonstrate the power of the alliance. We will “demonstrate that there are enough forces in this world, powerful countries who want to live not by those unwritten rules, but rather by the rules enshrined in fundamental, cornerstone documents, which include the United Nations.”
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The 16th BRICS summit will be held in Russia next year in October 2024. The alliance is also looking to create a new BRICS currency to take on the US dollar in global trade. Read here to know how many sectors in the US will be affected if BRICS stops using the dollar.