Closer to a multipolar world

This is NOT just a wish: the sphere now seems closer to multipolarity.

Two or three recent events give hope to many, because their crystallization would be a step in favor of justice in the world. And this goes hand in hand with the fall of US hegemony. This reinforces the belief that this other, better world needs a little less.

The confirmation comes not only from the South, where the desire for change has always been hidden, driven by necessity; these winds also blow from the east.

On the one hand, the return of Brazil to the BRICS group and the appointment of former President Dilma Rouseff as head of its fledgling Development Bank made us realize the potential of an institution with almost as much money in the treasury as the World Bank, and that it could be ready to help heavily indebted countries break free from the clutches of the International Monetary Fund.

This is of strategic importance at a critical time when the economic and financial crisis marks several years of belt-tightening for all, which will be tantamount to taking the breath away from heavily indebted countries.

In this context, Luiz Inacio Lula da Silva’s call to replace the dollar as the currency of exchange in trade relations and, in fact, the use of the yuan and the real in his relations with Beijing could have supporters and mark a new turn in international trade, where other examples have already been tested. .

On the contrary, the so-called spring meetings, sponsored by the IMF and the World Bank, only announced misfortunes without any sign of a solution, because their recipes do not change, they are only refined.

As if that weren’t enough, Russian Foreign Minister Sergey Lavrov’s recent tour of Latin America confirmed that his country, along with China, continues to be an important counterbalance to U.S. arrogance, despite sanctions over the Ukraine conflict and previous efforts by the West to stop the its political and economic emergence. They didn’t.

The journey that took Lavrov through Brazil, Venezuela, Nicaragua, and Cuba not only strengthened strong trade ties and closed ranks with states that did not join the Russian siege and, like Lenin’s homeland, were “punished” by US punitive measures. In addition, these are countries that go their own way, despite all this pressure.

In our hemisphere, this desire for autonomy vis-à-vis hegemonic centers has received yet another recent expression: the so-called Summit Against Inflation and Food Sovereignty, convened by Mexican President Andrés Manuel López Obrador. The meeting is scheduled for May 6 and 7 in Cancun.

While this process is still in its infancy, it is expected to take action for bilateral trade exchange or broader participation based on complementarity, which will help reduce the high cost of living. It is possible that in some cases the dollar was already missing.

And on the one hand, and on the other hand, there are steps that pierce, among other things, the unjust world order, and are primarily due not to ideological or political reasons, but to economic and even surviving ones.

laborious but relentless

Argentine sociologist, academic and columnist Atilio Boron calls for this new order without “heads”, a “polycentric” world in which everyone will be present, as if sitting at a round table; no primaries.

In his opinion, the United States retains a shaky, but still undeniable power over the institutions that establish the rules of world financial and economic power and from a military point of view, for which the construction of this polycentric sphere will be “labor-intensive”, wary; but this is already an inexorable and irreversible path.

China is considered one of the locomotives on this path. Its growing presence in Latin America is yet another way to reduce dependence on Washington while bolstering Beijing’s economic and commercial expansion.

Its presence in the region is growing, according to ECLAC (Economic Commission for Latin America and the Caribbean), although at the end of 2022, most FDI in Latin America still came from the US and Europe.

Other sources claim that the trade exchange between Washington and the region is about $800 billion.

However, ties with China have an added value over mere trade: they are confirmed by a holistic perspective that prioritizes cooperation. In a general sense, it is a spirit that could save humanity along with complementarity.

During Lula’s recent stay in the Chinese capital, the Asian giant’s presence in Latin America was strengthened by the signing of about twenty agreements. Among them, one that established that bilateral trade would be carried out in the respective local currencies.

This move to end dollar hegemony worries many. Perhaps following the Chinese-Brazilian example, India and Bangladesh have also agreed to conduct part of their bilateral trade transactions in their respective currencies, rupees and taka, Russia Today reports citing The Business Standard.

It is the presence of China and Russia in the BRICS group, which they make up with Brazil, India and South Africa – so promising that a dozen other countries are already willing to join – that gives dynamism to the international financial and economic concert and could prove its strength in the foreseeable crisis in external debt payments that has been announced, caused, among other things, by the expected fall in global GDP this year, and the increase in interest rates with which many central banks have responded to inflation – they say international organizations than in an erroneous decision that more increase those debts.

Although it was not created for financial loans of this type, the power of the baptized New BRICS Bank is undeniable. Its funds are said to be $100 billion, very close to the $115 billion the World Bank has.

And the acceptance of Dilma as its holder for the remainder of the presidency pro tempore Brazil until 2025 and replacing Marcos Troijo, Jair Bolsonaro’s man, is considered strategic. In fact, she was the head of the Brazilian state when it was founded, and she is an economist by training. So the financial institution will not be something unknown to her. In addition, his political thought is very connected with the thought of Lula, with whom he shares militancy in the Workers’ Party of his country.

The bank was established in 2014 to finance infrastructure and sustainable development projects in the founding countries and is said to have since approved nearly $33 million in funding for 100 projects.

Lula, an experienced figure who grew up as a statesman after his “resurrection” and has a sham international leadership, during the inauguration ceremony of his compatriot at the head of the Bank, admitted one of his dreams: “that the BRICS countries could create a powerful development tool that gives money from the prospect of helping countries, not strangling them.”

This is hardly an initiative that will not change the world on its own, but it will show how to contribute to fixing it.

Obviously, this will not be a stroke of the pen, but step by step and among many, a new international order can be built.

Source: Juventud Rebelde

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