Can BRICS topple US' economic power?

Abiky

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Quote from: tygeade on July 14, 2024, 01:23:35 AM

That is literally the reason why they would get weaker if they do. It is not going to be BRICS making USA weaker, it is not going to be Europe, it is not going to be any Asian power, it's literally going to be the USA making themselves weaker.

I talked about this before, and I will say that again, they are getting too close to the border. They are making left and right a lot more radical, and in the wrong way as well. Like right doesn't mean lets add a lot of racists, and left doesn't mean lets all focus on trans rights, right means conservative values, and left means economical equality to a degree. This is why I honestly believe that they are going to have a lot of trouble, for a very long time, and that is going to cause them to get weaker.

The attempted assasination attempt against a former president, Biden's lackluster performance, polarizing politics (between the GOP and Dems), and a rising national debt are all signs of American decline. It won't be long enough before the world stops trusting the USA as a reliable ally. Once trust is gone, the USD will weaken, effectively losing its position as the reserve currency of the world. This will happen whenever we like it or not.

BRICS will only survive if it's able to sustain its military, and economy. China and Russia are two of the biggest superpowers in the bloc. They may be more than enough to drive BRICS all the way to success. We'll see. I wonder what effect will a strong BRICS have over the EU?

WillyAp

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Quote from: GigaBit on July 14, 2024, 03:19:21 PM

I don't think that increasing the membership of BRICS will make this task easier or that they will eventually turn this alliance into a powerful one. Today's politics has reached a point where it is not unusual for any change to occur at any time, but it is not easy to bring down America.

That's right, and here I have a nice piece of how Brasil steps forward towards BRICS:
So its its all small steps, and mostly it helps just governments.

https://www.bbc.com/news/articles/c0venrydg8yo

GigaBit

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I don't think that increasing the membership of BRICS will make this task easier or that they will eventually turn this alliance into a powerful one. Today's politics has reached a point where it is not unusual for any change to occur at any time, but it is not easy to bring down America. All the countries that will fight against the United States will be able to continue without the help of the United States? I think there are many big countries who don't dare to do that, no matter what they say, when they go to take any action against America, they will face various obstacles. But if everyone is united in one goal then surely any action taken can be effective. But for now I don't think this alliance is very strong or they are working seriously towards their goals.

WillyAp

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Quote from: CK485 on July 14, 2024, 07:13:52 AM

I think BRICH and its members will provide good benefits and there is no agreement that binds each other, in fact with many BRICS members starting to enter this creates an unfavorable situation on the US side..

No company could become successful with that strategy.
No EU would have been grafted as organization with that philosophy.

The world's hunger for the $:

Quote

Iraq’s central bank pledged to restrict all internal commercial transactions as of this year, in an apparent attempt to curb dealings of the dollar outside Iraq’s banking sector and limit its smuggling abroad.

https://archive.is/f6vdU

and

Quote

The Fed’s move against 14 Iraqi lenders last week has led to a fall of the dinar on the unofficial market to 1,570 per dollar, 17% weaker than the official rate of roughly 1,300. The Fed acted as part of a crackdown on the siphoning of the dollar to Iran and other Middle Eastern countries under American sanctions, according to the Wall Street Journal, which first reported
the bans. The dinar’s depreciation is “temporary” and “there is no indication from the American side to include new banks within the sanctions,” Ali Al-Allaq, Iraq’s central bank governor, said to the state-run Iraqi news agency on Wednesday.

https://archive.is/hv9de

Business people of IRAN needing $. Business needs $.
Once politics mixes in business gets interrupted.

CK485

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Quote from: dezoel on July 14, 2024, 12:29:54 AM

Topple is not something that is all that reasonable because we are not really talking about each nation having a "battle" against each other anymore, it is made that way for political gain, but the reality is that location and sources matter more. Like if you are near China and need manufacturing, the power of USA doesn't matter to you, if you are a Latin American nation who wants to sell oil, China doesn't matter to you. Things are a lot more global and location based all at the same time, depending on your business.

Most bigger business' that are rich and at the top, sells it to all of them for example, like facebook, doesn't mind anything. So all in all, I believe that we should probably consider it an old tale and not new at all.

I think BRICH and its members will provide good benefits and there is no agreement that binds each other, in fact with many BRICS members starting to enter this creates an unfavorable situation on the US side because there will be many countries that are not dependent on the US, because previously also has many currencies that dominate the world and gradually that position will be replaced slowly even though it takes a very long time to reach the goal in that direction and people don't believe it but they will soon believe it when everything happens to divide the gap which is not much difference .

tygeade

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Quote from: Abiky on July 10, 2024, 07:56:40 AM

Polarizing politics within the United States, tells us that American decline is advancing at a fast pace. Countries are already considering moving away from the US Dollar. Perhaps, this has to do with the current administration's efforts of "weaponizing" the USD via sanctions.

If countries ditch the USD, western sanctions will have no effect over their economies. This new alliance (BRICS) will further polarize our world. There will be a huge divide between the West, and BRICS. Russia and China will be the major driving forces of the bloc. This could even be a threat to the EU and NATO itself. I wonder what would happen in the future? I'd certainly don't want to know. Grin

That is literally the reason why they would get weaker if they do. It is not going to be BRICS making USA weaker, it is not going to be Europe, it is not going to be any Asian power, it's literally going to be the USA making themselves weaker.

I talked about this before, and I will say that again, they are getting too close to the border. They are making left and right a lot more radical, and in the wrong way as well. Like right doesn't mean lets add a lot of racists, and left doesn't mean lets all focus on trans rights, right means conservative values, and left means economical equality to a degree. This is why I honestly believe that they are going to have a lot of trouble, for a very long time, and that is going to cause them to get weaker.

dezoel

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Topple is not something that is all that reasonable because we are not really talking about each nation having a "battle" against each other anymore, it is made that way for political gain, but the reality is that location and sources matter more. Like if you are near China and need manufacturing, the power of USA doesn't matter to you, if you are a Latin American nation who wants to sell oil, China doesn't matter to you. Things are a lot more global and location based all at the same time, depending on your business.

Most bigger business' that are rich and at the top, sells it to all of them for example, like facebook, doesn't mind anything. So all in all, I believe that we should probably consider it an old tale and not new at all.

DiMarxist

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The way I see things from BRICS, things will not work out well for them because they are not united nations if not by now things would have changed as they promised. If they were serious by now they would started using the BRICS currency by now even it not their various countries but at least they would have used it in the regional and the international market then would have known that they are serious amount the currency.
But like this they are not serious and BRICS won't withstand with the test results f time.

retreat

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Like what BRICS plans to do by forming an alliance of several countries to be able to fight against the dominance of the US and the Dollar, the US can also do the same thing (even more) to be able to fight against the dominance of BRICS and its influence in the Asian or global region. Don't forget that apart from its economic strength, the US also has other strengths (military, diplomacy, etc.) which can maintain dollar dominance and still make many countries side with it.
However, that does not mean that the resistance carried out by BRICS is in vain, it is something that needs to be done, and so that it needs to have greater influence than it currently has in order to show that the US should not dictate too much to other countries and assume that third countries are not capable of doing anything.

BALIK

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Quote from: Coyster on July 09, 2024, 12:34:13 PM

Quote from: BALIK on July 09, 2024, 09:23:06 AM

BRICS or who will replace the US, no one knows but there will definitely be someone to replace the US in the future.

BRICS is not a single country, it is an organization that is made up of different countries that have their own individual ambitions, so which of these member-countries do you believe will topple the U.S' economic power? I really cannot see any.

China is the only BRICS nation that comes close to the U.S, in the area of economic growth and all round development, but do you think the Yuan is going to topple the U.S dollar as the world's reserve currency? I for one do not think so. The U.S is a complete superpower nation, and it is going to be almost impossible for any country to topple them.

BRICS has a common ambition to reduce dependence on the USD and even completely eliminate the USD in trade transactions. They have a common ambition to create a multipolar world, not a unipolar world as the US wants.

Why can't China surpass the US when they are getting closer to the US than ever before?

As I said, history is repeating itself just like the British believed that no one could overthrow them, they were the strongest until the U.S came and made them history. The U.S is very strong and really no country can defeat them but BRICS can weaken them and from there a country will also take their place.

Abiky

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Quote from: legendbtc on July 07, 2024, 06:18:47 AM

Nothing can last forever, that's what we need to accept and the United States should also accept instead of thinking they can rule the world forever. A multipolar world will soon be created as more and more countries begin to get fed up with the overbearingness of the US and its allies. BRICS will face many challenges and difficulties ahead but that does not mean they will not be able to defeat US dominance.

Just looking at what is happening in the US politics is enough to show us their weakness when both of their presidential candidates are becoming a laughing stock to the whole world. One is called a criminal, the other is said to have out of date but still stubbornly refuses to give up power. Grin

Yes. Polarizing politics within the United States, tells us that American decline is advancing at a fast pace. Countries are already considering moving away from the US Dollar. Perhaps, this has to do with the current administration's efforts of "weaponizing" the USD via sanctions.

If countries ditch the USD, western sanctions will have no effect over their economies. This new alliance (BRICS) will further polarize our world. There will be a huge divide between the West, and BRICS. Russia and China will be the major driving forces of the bloc. This could even be a threat to the EU and NATO itself. I wonder what would happen in the future? I'd certainly don't want to know. Grin

iBaba

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Quote from: Helena Yu on July 06, 2024, 04:33:32 AM

BRICS is want to dominate the economic and power, "challenge" is just to sugar coat their main intention. There are no countries want to be poor, so having a good economy and power will make them rich, they can control almost everything.

Almost everyone in this world discuss about Biden and Trump, but less people are interested to discuss about president in other countries.

The BRICS bloc was brought into the fore as power brokers to the Western world by the East. They have been able to critically influenced and expand their tentacles across Asia, the middle east and some part of Africa. Those countries include Iran, Saudi Arabia, UAE, Egypt and Ethiopia in the last summit they had organized. They also made unsuccessful efforts to include Argentina which was hindered by the political situations in the country. I know it will be difficult for the BRICS to achieve its aim because unlike the NATO, the BRICS is more diverse in their economic differences.

Coyster

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Quote from: BALIK on July 09, 2024, 09:23:06 AM

BRICS or who will replace the US, no one knows but there will definitely be someone to replace the US in the future.

BRICS is not a single country, it is an organization that is made up of different countries that have their own individual ambitions, so which of these member-countries do you believe will topple the U.S' economic power? I really cannot see any.

China is the only BRICS nation that comes close to the U.S, in the area of economic growth and all round development, but do you think the Yuan is going to topple the U.S dollar as the world's reserve currency? I for one do not think so. The U.S is a complete superpower nation, and it is going to be almost impossible for any country to topple them.

BALIK

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Quote from: Haunebu on July 06, 2024, 11:58:55 AM

Another thread in the economics board talking about the US dollar getting surpassed by some other currency which has pretty much become a trend these days. Pointless and silly theories if you ask me.

Anyway, coming to op's question, BRICS is definitely getting stronger with time, but you are delusional if you think that they can challenge a superpower like USA currently.

Before USD, we also had many currencies of other powers that dominated the world such as USD.
For example, before the United States, we had Britain as the leading power and the government at that time as well as many people believed that no one could defeat and take over Britain's position as the leading power. But after 105 years of maintaining its position as the world's leading power, they have been surpassed by the US and even Britain is now largely dependent on the US from economics to military. Likewise, the US government and many people also think that they are the strongest and no one can defeat them. It can be seen that history is repeating again but many people still don't believe it but they will soon believe it when everything happens and becomes history. We need to accept the fact that nothing lasts forever, including life on this earth, let alone the US domination.

BRICS or who will replace the US, no one knows but there will definitely be someone to replace the US in the future.

WillyAp

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Quote from: legendbtc on July 07, 2024, 06:18:47 AM

Nothing can last forever, that's what we need to accept and the United States should also accept instead of thinking they can rule the world forever. A multipolar world will soon be created as more and more countries begin to get fed up with the overbearingness of the US and its allies. BRICS will face many challenges and difficulties ahead but that does not mean they will not be able to defeat US dominance.

Beware of future tense use cases. Hardly ever anything proclaimed will happen, and specially in the way it was proclaimed.
At the moment there is no alternative to the banking system. Crypto could enter there but till businesses learn enough it takes time.

On a small scale no wallet lets you overdraw, you won't get a credit from it either. On a larger scale business can't finance anything except by proper means.

The saying "be your own bank" is a statement born in ignorance.

How many living in the 3rd World enjoy banking credibility?
How much is your national banking system allowed to issue on credits?

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Quote from: Abiky on July 04, 2024, 07:59:42 PM

Quote from: legendbtc on July 04, 2024, 07:46:19 AM

I don't find it funny that BRICS was established and it's even a great idea because we will have a multipolar world and everyone admits that a multipolar world will be better than a unipolar world.
I do not deny that many citizens of third world countries are dreaming and looking to move to Europe or America because they think it will bring them a better life. But have you ever wondered why there are still more than 40 countries applying to join the BRICS bloc?

America does not give up its power, even doing everything to maintain power, but they will soon be weakened or replaced by another power and that could be BRICS. It's true that it's still very early to confirm anything, so let's leave time to answer everything.

History repeats itself. Sooner or later, the US will fall. This is inevitable. We'll be heading back to a multipolar world like before. In the process, another superpower will take the US' place as the leading force of the world. No one knows if it will be BRICS countries altogether, the European Union, or China alone.

What we do know is that democracy is in danger. Especially when the West is showing signs of weakness. It's likely authoritarianism will rule the world in the future. How long will it take for the US (and democracy as a whole) to collapse is a mystery. The clock is ticking, so expect the unexpected. Undecided

Nothing can last forever, that's what we need to accept and the United States should also accept instead of thinking they can rule the world forever. A multipolar world will soon be created as more and more countries begin to get fed up with the overbearingness of the US and its allies. BRICS will face many challenges and difficulties ahead but that does not mean they will not be able to defeat US dominance.

Just looking at what is happening in the US politics is enough to show us their weakness when both of their presidential candidates are becoming a laughing stock to the whole world. One is called a criminal, the other is said to have out of date but still stubbornly refuses to give up power. Grin

Haunebu

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Another thread in the economics board talking about the US dollar getting surpassed by some other currency which has pretty much become a trend these days. Pointless and silly theories if you ask me.

Anyway, coming to op's question, BRICS is definitely getting stronger with time, but you are delusional if you think that they can challenge a superpower like USA currently.

WillyAp

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Quote from: pooya87 on July 06, 2024, 09:21:29 AM

As for technology, in this day and age there is no gap that can not be filled. I started a post about that gap in microchips nearly a year ago and today that gap that existed is nearly filled.
It will be the same in other fields as well.

Why do you think there is a world order?
There are several issues where the US put legislation, without being allowed or else.
All Swift transfers pass through the US therefore the prosecution makes a case of it.

Due to ignorance of people working with money they put themselves into harms way. And blame the US.

I'm not a dan of the US. But I like the US $ more than our local currency.

pooya87

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Quote from: DeathAngel on July 06, 2024, 06:09:24 AM

BRICS countries face challenges such as income inequality, political instability and technological gaps.

Apart from maybe technology all these problems and a lot more exist in United States as well. We are already witnessing the mess called US presidential election where two elderly men, one worse than the other, one is a convicted felon and the other is senile, compete for the highest political position in that country.

As for technology, in this day and age there is no gap that can not be filled. I started a post about that gap in microchips nearly a year ago and today that gap that existed is nearly filled.
It will be the same in other fields as well.

WillyAp

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Quote from: DeathAngel on July 06, 2024, 06:09:24 AM

The BRICS countries (Brazil, Russia, India, China & South Africa) have shown really significant economic growth & influence in recent years. They have the potential to challenge the US economic power, it is unlikely that they would topple it in the near future.

Sorry but they don't. They are lacking the one thing the US,EU, Australia, New Zealand and a few other have.
A buyer base. And still quite solid when comparing to the rest.

Topic: Can BRICS topple US' economic power? (Read 761 times)