WTFinance Western Economic Decline as BRICS Strengthens with Warwick Powell
Dec 3, 2025
In this engaging discussion, Warwick Powell, an Adjunct Professor with expertise in global political economy and a focus on China, dives into 2025's economic shifts. He explores the decline of US hegemony and the rise of BRICS, emphasizing the challenges of Western deindustrialization and the impact of AI on jobs. Powell also highlights the complexities of currency multipolarity, advocating for adaptability in this shifting landscape. His insights on regional alliances and the evolving global order offer a thought-provoking perspective on the future.
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Rise Of Parallel Financial Infrastructure
- New parallel institutions and non-dollar payment systems are rapidly emerging to reduce dependence on the US dollar.
- These shifts aim to lower exchange-rate risks, avoid weaponization and increase trade confidence.
Energy Bottlenecks Undermine US Strength
- The US faces structural headwinds, notably energy and electricity constraints driven by AI demand.
- Strained power generation and distribution are raising prices and political-economic pressures.
Diminished US Market Leverage
- The US share of global imports has fallen significantly, reducing its market leverage.
- Tariffs proved costly domestically and many exemptions show they failed to deliver promised manufacturing revival.
