BRICS Meeting to Develop Multipolar World - Jeffrey Sachs, Alexander Mercouris & Glenn Diesen
Sep 19, 2024
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Jeffrey Sachs, an influential economist, joins legal analyst Alexander Mercouris and geopolitical expert Glenn Diesen for a deep dive into the evolving BRICS movement. They discuss the challenge to U.S. hegemony and the rise of alternative global trade systems, emphasizing the significant shift in economic power towards Asia. The trio critiques current U.S. foreign policies and the adversarial stance towards China and Russia. They call for a more cooperative global approach, warning against the dangers of a polarized, us-versus-them mentality in international relations.
BRICS has emerged as a crucial geopolitical entity to counter U.S. dominance and create a multipolar world for economic cooperation.
The shift towards a multipolar global economy is driven by Asia's rising prominence and the need for cooperative international relations to ensure stability.
Deep dives
The Evolution and Purpose of BRICS
BRICS has evolved from a group of emerging economies into a geopolitical entity in response to U.S. foreign policy, which often perceives other nations as foes. This group, including nations like India, China, Brazil, and South Africa, emerged as a counterweight to U.S. dominance, particularly after the weaponization of the U.S. dollar and the imposition of sanctions. Many countries feel the pressure of these sanctions, leading them to explore alternative frameworks for trade and economic cooperation. As BRICS seeks to establish a new international economic architecture, the focus is on creating a multipolar world that allows nations to collaborate on their own terms without succumbing to U.S. influence.
Shifting Global Economic Dynamics
The global economic landscape is undergoing significant changes, with Asia reclaiming its historical prominence in world output, moving back to over 50%. This shift comes after a long period of Western dominance following the industrial revolutions and imperialism. Economic convergence is allowing countries in Asia and other regions to close technological and income gaps, leading to rising living standards. The United States, however, appears blind to this evolution, clinging to outdated notions of hegemony that disregard these transformative economic realities.
The Dangers of a Divided World
The geopolitical climate has shifted towards division, as the U.S. has adopted a confrontational approach that risks exacerbating tensions globally. This idea echoes the historical context of how alliances formed post-World War II were intended to create stability but have instead fostered adversarial relations. The need for cooperation against economic coercion is imperative, as significant powers like China and Russia strive for diversified partnerships. Continuing down the path of isolationism and aggression threatens not only international peace but also the prosperity that could come from a more cooperative global framework.
The Importance of a Cooperative Framework
A more pragmatic approach towards international relations is necessary, particularly through the lens of BRICS and its potential for collaboration. The failure of U.S. policies like the Trans-Pacific Partnership demonstrates the shortsightedness of excluding key players from trade agreements. This exclusionary policy not only undermines U.S. interests but diminishes the possibility of a stable and prosperous international trading environment. Achieving mutual gains through collaboration, rather than exclusion and conflict, presents the best path forward for global economic security and political stability.