BRICS: The economic power play
BRICS emerged as a response to Western economic dominance, but its growing global weight has yet to translate into an effective alternative economic order. From challenging unilateral sanctions and dollar dominance to demanding global tax justice, the bloc faces significant internal contradictions. Its success will ultimately depend on whether it can turn ambitious declarations into concrete financial and institutional action.
Against the backdrop of US-Israeli aggression against Iran, Donald Trump’s unilateral tariff policies and sanctions-driven economics, an increasingly hegemonic US foreign policy, the long-running Russia-Ukraine war and the international oil crisis, the recently concluded BRICS summit in India was undoubtedly a significant event. From a diplomatic perspective, the summit can be considered successful. It was held at a time when, amid the war in the Middle East, Iran’s counter-attacks had targeted ...
