- Cuban President Miguel Diaz-Canel posits that the BRICS nations could end US hegemony and provide an alternative economic integration path for developing economies.
- BRICS nations are contemplating abandoning the US dollar to circumvent potential US sanctions and establish more inclusive financial relations.
Cuban President Miguel Diaz-Canel predicts a significant shift in the world’s economic paradigm, asserting that the BRICS nations (Brazil, Russia, India, China, and South Africa) hold the power to dethrone the United States’ global dominance.
In a recent interview with RT, Diaz-Canel elucidated how BRICS offers an alternative path for countries grappling with the pressure to acquiesce to the US’s hegemonic policies. He identifies a growing global interest in joining the BRICS economic coalition, which aims to integrate developing nations’ economies.
Diaz-Canel elaborates,
“BRICS provides a brilliant alternative for economic integration, particularly for developing economies, the ‘third world countries,’ and the Global South, as BRICS upholds multipolar relations. They resist the Cold War ideology and advocate a more equitable international economic order, benefiting all participants. They promote a real partnership in nations’ economic and commercial interactions, an approach that ensures peace and international security.”
The Cuban President also discloses that BRICS members are contemplating moving away from the US dollar in international trade. This decision could help insulate countries from any potential sanctions imposed by the US and its allies, using the dollar as a means to exert economic and financial pressure.
“A de-dollarization lays the foundation for more inclusive, mutually beneficial relations, assisting a large group of countries in integrating their economies,”
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Diaz-Canel explains.
“This approach could help countries sidestep sanctions imposed by the US or others who manipulate the US dollar to apply economic and financial sanctions.”
Diaz-Canel envisions the opportunities presented by BRICS leading to a new world order, free from the control of the US, the International Monetary Fund (IMF), or the World Bank.
He asserts,
“The value, prospects, and opportunities that open up when you adopt the BRICS approach are widely understood. This approach could gradually lead to a fairer, more cohesive, inclusive, and democratic international economic order, promoting peace, enhanced security, and broader opportunities. As a result, the dominance of the US, IMF, or World Bank would cease.”
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