Risk Management Show
The BRICS+ Power Shift: Geopolitical Risks and de-dollarization Impact with Dominic Bowen
Sep 23, 2024
Dominic Bowen, a leading expert in risk management with over two decades of experience, discusses the transformative power of BRICS+ nations. He delves into how geopolitical tensions, like the Ukraine conflict and US-China relations, are reshaping global trade. The conversation highlights the rise of alternative financial systems aimed at de-dollarization and the intricate economic dynamics within the BRICS group. Dominic also advocates for creative thinking in risk management, urging leaders to adapt to the evolving landscape.
27:36
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Quick takeaways
- The expansion of the BRICS+ coalition highlights a significant shift in global economic power dynamics, challenging Western financial dominance.
- Efforts towards de-dollarization and the creation of alternative payment systems are crucial for business leaders to navigate geopolitical uncertainties.
Deep dives
The Rise and Influence of BRICS Plus
The BRICS nations, originally comprising Brazil, Russia, India, China, and South Africa, have aimed to expand their influence at a global level, challenging the dominance of Western-led organizations like the IMF and World Bank. The recent inclusion of six new countries, including Iran and Saudi Arabia, has further strengthened this coalition, which now represents a significant portion of the world's population and GDP. Analysts have noted a potential shift in global economic power dynamics as these nations seek to create alternative financial systems and reduce reliance on the US dollar. However, despite their growing ambitions, challenges persist due to the diverse political and economic interests of individual BRICS members.
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