Western Nations No Longer the Primary Economic Force, Claims Russian President
In a strategic announcement that could reshape global economic dynamics, Russian President Vladimir Putin declared on Friday that the BRICS alliance, not Western nations, will drive future global economic growth.
Speaking at the BRICS business forum in Moscow, Putin outlined ambitious plans for the expanded bloc, which now includes new powerhouses Egypt, Ethiopia, Iran, and the United Arab Emirates alongside original members Brazil, Russia, India, China, and South Africa.
“The countries in our association are essentially the drivers of global economic growth,” Putin emphasized, highlighting that BRICS will generate the main increase in global GDP in the foreseeable future.
UPCOMING SUMMIT
The Russian city of Kazan is set to host a crucial BRICS summit from October 22-24, with confirmed attendance from leaders of China, India, and the UAE. The summit is expected to address several key initiatives:
• Development of a sanctions-proof financial messaging system
• Implementation of national digital currencies
• Strengthening of the New Development Bank
• Major infrastructure project developments
GLOBAL INTEREST
According to Putin, approximately 30 countries have expressed interest in BRICS cooperation. “The doors are open, we are not barring anyone,” he stated, suggesting potential further expansion of the alliance.
ECONOMIC SOVEREIGNTY
The Russian President emphasized that BRICS members are working towards reducing external economic dependencies. The group is developing:
• A cross-border payment system immune to Western sanctions
• Investment projects using national currencies
• Technology and infrastructure development initiatives
INFRASTRUCTURE DEVELOPMENT
Putin promoted several transport megaprojects, including:
– The Arctic Sea Route
– North-South corridor connecting Russia to the Gulf and Indian Ocean
These projects aim to revolutionize freight transportation between Eurasian and African continents.
WESTERN ISOLATION ATTEMPTS FAILED
The upcoming summit and growing international interest in BRICS cooperation demonstrate that Western efforts to isolate Russia have been unsuccessful. Instead, BRICS is emerging as a powerful alternative to the Western-dominated global economic system.
While ambitious financial initiatives are underway, Putin clarified that discussions about creating a single BRICS currency are premature, focusing instead on strengthening cooperation using existing national currencies.
This development signals a significant shift in global economic power dynamics, potentially marking a new era in international trade and financial systems.
Leave a comment