By Taking on American Hegemony And Challenging the Dollar, BRICS Members Represent the Best Hope for a Fairer World Order

• By Taking on American Hegemony And Challenging the Dollar, BRICS Members Represent the Best Hope for a Fairer World Order
  by Bradley Blankenship, https://www.rt.com/
  With the potential for a new reserve currency and investment without political strings attached, the group can present an alternative to a world choked by Western dominance
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  The 14th BRICS Summit in Beijing is just wrapping up amid a turbulent international geopolitical landscape, which highlights the importance of the organization in general. Given the combined challenges of the ongoing Covid-19 pandemic, global conflict, a looming economic crash and climate change – the current international system is failing and a new, multi-polar alternative must take its place.
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  It’s worth noting the context of the BRICS (Brazil, Russia, India, China and South Africa) format. Started in 2009 amid a financial crisis, the main goal of that year’s first BRICS (or BRIC as it was then) summit in Yekaterinburg was to improve the global economic situation and reform financial institutions.
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  Although these countries are not joined by any particular ideology, each saw the need to democratize the global economic system that had been crashed pretty much single-handedly by the United States in an extraordinarily irresponsible – even illegal by US law, in some instances – manner. The head of China’s Central Bank bluntly called for abandoning the dollar as the global reserve currency in 2009 because of a lack of faith in US monetary leadership. 
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