The recently concluded BRICS Meet in the Russian city of Kazan is a game changer in the field of international relations. It will have far reaching consequences on the international political, security and financial arrangements and bring about a paradigm shift in the existing tattering unipolar world led by America. It will shift the global focus on BRICS from the US led international arrangements in the name of the UN and its financial instruments like the World Bank and IMF. This would happen because of two reasons. First, the world is fed up with the domineering attitude of the US led West which treats the rest of the world with bitter contempt and humiliation without providing the benefits of being under a Don. The sanctions regime imposed upon nations whose behaviour does not suit their interests is literally disgusting with no veil of diplomatic decorum and decency. Instead of helping in maintaining peace in the world ,the US led West is guilty of disturbing them time and again as per their interests. Other nations are so weak that they have no guts to oppose their tyranny in the name of democracy, human rights, women's rights, gender equality and bla bla bla. The USSR and its allies fought for their rights successfully but Non Aligned Nations were left to fend for themselves. Russia became weak after the disintegration of the USSR and the US led NATO had a field day. They had no justification for further expansion and strengthening of NATO. Second, BRICS is not a pride of lions led by the strongest male lion as is the case with the US led NATO. It is a multipolar organization with a positive space for the weaker nations which have been left behind in the modern race of development. It is guided by the spirit of general good of its members. Third, it is not a power bloc meant to oppose anyone. It is simply a bulwark against the oppression and exploitation of the US led West.
America and its allies are in a state of shock and disbelief as they never expected that India, China and Russia would be on the same platform. The icing on the cake is the presence of Brazil, South Africa, Egypt, Iran, Ethiopia and UAE and a host of other nations waiting to join BRICS. India and China being on the same page is a big blow to the US's chances of ever taking on China. The credit goes to the master politician and diplomat Vladimir Putin who made Russia rise like a sphinx. Biden was out to isolate Russia by imposing a number of sanctions, but Putin pulled off a surprise rapprochement between India and China on the sidelines of BRICS Meet. The US was apprehensive of India and China coming together and Russia emerging as a powerful player, but it didn't expect what had unfolded at Kazan. China is a powerful country and it has shown pragmatic sagacity while coming to terms with India. It is not in the interests of India and China to have a volatile border. It is a long and difficult process but it is a positive development in the right direction. Both the nations would be wise to act as per ground realities.
America will have to recalibrate its diplomacy to take on China, India and Russia in the changing world order. China was the main challenger of America but the rise of Russia under the dogged leadership of Putin and the emergence of a defiant India is completely out of syllabus for the American policy makers. In 2008, Michael Mandelbaum and Thomas L. Friedman in their famous book, ' What Went Wrong With the US ' rightly explained the decline of America and emergence of China. However, they failed to take note of Russia and India.
BRICS constitute forty percent of the global population with thirty percent of world GDP. It consumes forty four percent of the world's crude oil production. It is contemplating a multi currency trade which may finally lead to BRICS currency. The process of de-dollarisation has begun. However, it will take some time as MBS has still not made up his mind. He was absent from the BRICS Meet. The day he does so the petro dollar would start losing its sheen. BRICS has founded the New Development Bank to provide easy loans to its members for infrastructure development. Alternative Reserve Arrangement has been made to provide loans as bailout packages to its members in case of payment failures. These financial institutions will break the hegemony and dictatorship of financial institutions like Word Bank and IMF for the third world countries which are also called global south.
BRICS is a positive development for a proper balancing of powers and financial institutions associated with them.
The writer is a noted academician and political commentator. Views expressed in the article are personal
