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Morning Wire
BRICS Alliance Grows: Analyzing the Impact on US Interests | Saturday Extra
Sep 2, 2023
09:40
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The podcast delves into the recent BRICS summit and its implications for US interests. They discuss potential expansion of bilateral trade deals bypassing the US and the dollar, the possibility of a unified currency for BRICS countries, and the potential of the BRICS countries to diminish US power.
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Quick takeaways
- The recent BRICS summit expanded their membership and explored potential alternatives to US-dominated trade deals, leading to geopolitical implications for US interests.
- The US's weaponization of the dollar has prompted countries to bypass it in bilateral trade deals, creating an opportunity for the BRICS countries to potentially create a unified currency solely for trade within their group.
Deep dives
BRICS countries expand membership and bypass the US and dollar
The recent BRICS summit saw Brazil, Russia, India, China, and South Africa agree to expand membership and consider bilateral trade deals that would avoid the US and the dollar. The decision to admit new members, including Saudi Arabia and the United Arab Emirates, has geopolitical implications. The BRICS countries seek protection from the US's weaponization of the dollar and their control over global financial systems. With the inclusion of Russia, Saudi Arabia, and Iran, the group gains substantial influence, with significant oil-producing nations and close to half the global population.
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Discover
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