You have probably noticed that the BRICS alliance, consisting of countries such as Russia, China and India, is currently on the rise. The alliance is increasingly in the news, because they are said to be working on an alternative to the US dollar and want to break the hegemony of the West. Now there even seem to be countries that, according to the Russian deputy prime minister, are begging to join the alliance that wants to overturn geopolitical relations.
More and more interest
Sergey Ryabkov, a Russian diplomat, say that more and more countries are queuing up to join BRICS. It would now involve nearly 20 countries, he told Russian state media company Tass.
“The list of candidates wanting to join the alliance continues to grow. The number of states is now approaching 20. This shows that BRICS is growing and that the role of the alliance is increasing in the international arena,” said Ryabkov.
According to Ryabkov, the alliance is aimed at not working with one leader, but they want to reach consensus on matters. That’s a little bit different somewhere than with the West, where America in particular has the say when it comes to geopolitical issues.
Who want to join?
Ryabkov says that it is mainly countries from the Arab world and Asia that are currently eager to join the alliance. This indicates that they have enormous confidence in the future of the alliance.
Only time will tell whether that confidence is justified. For now, it is difficult to imagine Western countries accepting the currency of the BRICS alliance just like that.
In that sense, a split world order may arise and it is questionable whether that is a good development. In that scenario, the West will at least partially lose out.
As a decentralized currency, where you don’t have to trust each other, Bitcoin could perhaps play an interesting role in that divided world. After all, you can’t just take someone’s Bitcoin away, which is possible with currency reserves in the traditional systems.