BRICS Nations: Unlikely Collaboration and Polar Differences
Venture capitalist Chamath Palihapitiya suggests that it is difficult to envision significant cooperation among BRICS nations, given their contrasting characteristics. Despite their economic alignment, the stark differences among these nations make meaningful collaboration seem unlikely.
Palihapitiya doubts whether BRICS could establish a currency framework to rival the US dollar, as regional rivalries continue to grow. For instance, China and India, the two anchor partners of BRICS, are engaged in a land dispute with armed conflicts. Moreover, there is a growing anti-Chinese sentiment in both India and Brazil, with India imposing restrictions on Chinese apps and imports. The existence of such polar enemies within the organization hinders their ability to work together effectively.
In addition, BRICS lacks a shared foundation of democratic ideals, unlike organizations such as NATO and the G7. The inclusion of nations like China, Russia, and Iran, with contrasting democratic governance compared to Brazil and India, further undermines the organizational framework of BRICS.
Potential Expansion and Shift Away from the US Dollar
BRICS currently consists of Brazil, Russia, India, China, and South Africa. However, other nations may soon join the group as they make moves to distance themselves from the US dollar.
Hot Take: BRICS Nations Face Hurdles to Meaningful Collaboration
While BRICS nations strive for economic alignment, their differences in regional rivalries, anti-Chinese sentiment, and contrasting democratic ideals present significant obstacles to meaningful collaboration. Achieving a unified currency framework to compete against the US dollar seems unlikely. Additionally, the inclusion of nations like China, Russia, and Iran within BRICS further challenges the organization’s cohesion. Expansion may be on the horizon, but the current dynamics within BRICS raise doubts about its ability to achieve substantial achievements together.
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