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Absolutely astonishing that Iran and Saudi Arabia would be admitted side-by-side. Geopolitical arch-rivals joining the same economic bloc like this might signal a watershed moment for multipolarity.

    • quarrk [he/him]@hexbear.netEnglish
      10·
      1 year ago

      I agree that BRICS isn’t significant yet, it’s a looming storm cloud for the US. I meant more broadly that de-dollarization is the most direct non-military means for other nations to challenge US hegemony.

      If BRICS is able to budge even oil trade away from USD then that has cascading effects. When countries need fewer USD to buy oil then they don’t need to export as much other things to the US to maintain their USD balance.