Assessing the BRICS Expansion: Debunking Expectations

“In the end, many of the group’s goals, such as dedollarization or regulating the price and quantity of oil and minerals, seem unlikely or impossible. Meanwhile, the goal of escaping US hegemony, if achieved, could just lead to Chinese hegemony. However, the biggest contradiction of the BRICS agenda is revealed in Xi Jinping’s closing speech when he advises the BRICS nations to avoid hegemony, bloc-building, and sleepwalking into a ”new Cold War”—given that his vision for BRICS is to build and dominate a large bloc to counter the US and the G7.”

Assessing the BRICS Expansion: Debunking Expectations | Mises Wire

Published by markskidmore

Mark Skidmore is Professor of Economics at Michigan State University where he holds the Morris Chair in State and Local Government Finance and Policy. His research focuses on topics in public finance, regional economics, and the economics of natural disasters. Mark created the Lighthouse Economics website and blog to share economic research and information relevant for navigating tumultuous times.

One thought on “Assessing the BRICS Expansion: Debunking Expectations

  1. The opposition to the U.S. Dollar is not strong but rather weak and will probably will remain that way. That does not make the Dollar strong in real terms and the intellectual support for gold and/or gold and silver is not strong. How to conduct business based on troubled finances? That could be a serious problem.

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