19 countries look to join BRICS but will Jamaica?
Al Edwards / Our Today
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There has been talk for some time now that the United States is losing its pre-eminence in the world.
News that 19 countries now want to join the emerging markets bloc of Brazil, Russia, India, China and South Africa goes some way in confirming that.
Beginning in 2006 in an effort to avoid American hegemony, BRIC was formed. In 2010 South Africa signed up and since then no other country has joined this band of brothers.
Thirteen years later countries are beating down BRICS doors as it seems set to change the world order.
BRICS will be holding a summit in South Africa this summer and one of the items on the agenda is the expansion of BRICS.
“What will be discussed is the expansion of BRICS and the modalities of how this will happen. Thirteen countries have formally asked to join and another six have asked formally. We are getting applications to join every day.”
BRICS spokesperson
A BRICS spokesperson wrote: “What will be discussed is the expansion of BRICS and the modalities of how this will happen. Thirteen countries have formally asked to join and another six have asked formally. We are getting applications to join every day.”
What will be concerning to the U.S. is that Iran and Saudi Arabia, two major oil provinces have formally asked to join.
The experiment that was globalisation is ending. On the one side you have China and Russia joining forces and on the other you have the United States and traditional European powers.
One get’s the impression that BRICS wants to be bigger than the G7.
It is looking to bypass the U.S. dollar as the reserve currency and is hell bent on doing so. The countries that comprise BRICS are more populous than the U.S. and Western Europe.
The lost of the U.S. dollar as the reserve currency would be a monumental shift. What would this lead to?
Higher interest rates and higher inflation in western countries.
The Monroe Doctrine seems to be fraying as U.S. influence in Latin America and the Caribbean is waning as the U.S. reduces its investments in the region.
At the 10th BRICS Summit in 2018, the Prime Minister of Jamaica, Andrew Holness was invited to attend and he said it formed an important balance in the world.
The question is will Jamaica be joining BRICS?
Prime Minister Holness added that BRICS represents a fraternity of common views and is an economic bloc creating greater opportunities for trade.
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