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Awaiting further refinement of the proposal the BRICS is focusing on use of national currencies for bilateral trade and to also insulate them from fluctuations and cut their 29 de oct. de 20 BRICS Leaders Summit, held in Kazan, Russia, is regarded as a significant turning point for the future of the international order. This summit demonstrated that what BRICS is and what it is not. Before we assess the summit’s key developments, here’s our quick take on what BRICS is about and how it sees the world: Thirty-five developing countries BRICS' stated goal of fostering a multipolar world order positions it as an ideological counterweight to Western alliances like the G7. Key initiatives, such as the BRICS

Is BRICS7 the Quickest Route to a Multipolar World?

The idea that BRICS7 could be the quickest route to a multipolar world is gaining traction. The 2024 BRICS Leaders Summit, held in Kazan, Russia, is regarded as a significant turning point for the future of the international order. This summit demonstrated both what BRICS is and what it is not. The ambition of fostering a multipolar world order positions BRICS as an ideological counterweight to Western alliances like the G7. But how quickly can BRICS achieve this vision?

What is BRICS and How Does it See the World?

Thirty-five developing countries see potential in BRICS. Key initiatives, such as the BRICS' New Development Bank, aim to provide alternative financing options and challenge the dominance of institutions like the World Bank and IMF. Furthermore, awaiting further refinement of the proposal the BRICS is focusing on use of national currencies for bilateral trade and to also insulate them from fluctuations and cut their reliance on the US dollar. This move towards de-dollarization is a crucial step in building a truly multipolar financial system. 29 de oct. de 20 serves as a reminder of the ongoing evolution and ambition driving the BRICS agenda.

BRICS vs. G7: A Clash of Ideologies

BRICS' stated goal of fostering a multipolar world order positions it as an ideological counterweight to Western alliances like the G7. While the G7 largely represents developed, Western economies, BRICS aims to amplify the voice and influence of developing nations. This fundamental difference in perspective fuels the narrative that BRICS offers a faster path to a more balanced global power structure.

Challenges and Opportunities on the Road to Multipolarity

Despite its potential, BRICS faces significant challenges. Internal divisions, economic disparities, and varying political interests among member states can hinder progress. However, the commitment to national currency trade and the expansion of the BRICS alliance suggest a strong desire to overcome these obstacles and accelerate the shift towards a multipolar world.

Ultimately, whether BRICS7 could be the quickest route to a multipolar world remains to be seen. However, its ambition, strategic initiatives, and growing influence firmly establish it as a key player in shaping the future of the international order.

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