Thanks for your comment. I don't think the BRICS will do, nor the BRI, which is not much of an organization, but rather a China run network of bilateral ties. If the BRICS were the committee, you would have a split of the world order. Not unimaginable but I think few of the BRICS countries are looking for that. China definitely does not. So it has to be something else. Something else out of thin air will take time, so repurposing the G-19, or at least the economic stream in it, would be my best bet.
You are probably right in the medium term, but perhaps BRiCS is the only way to really reform the global financial system to give non-Western countries a genuine say. My understanding of the reforms proposed by BRICS is that it’s not intended to exclude participation by the West. In principle Western countries could participate without being a member of BRICS, but the West must give up their hegemonic position over the global financial system. They might even be allowed to join BRICS itself one day. It just depends on how willing the West is to give up their hegemonic status.
Thanks for the comprehensive review. You don’t see a role for BRICS? And China’s BRI?
Thanks for your comment. I don't think the BRICS will do, nor the BRI, which is not much of an organization, but rather a China run network of bilateral ties. If the BRICS were the committee, you would have a split of the world order. Not unimaginable but I think few of the BRICS countries are looking for that. China definitely does not. So it has to be something else. Something else out of thin air will take time, so repurposing the G-19, or at least the economic stream in it, would be my best bet.
You are probably right in the medium term, but perhaps BRiCS is the only way to really reform the global financial system to give non-Western countries a genuine say. My understanding of the reforms proposed by BRICS is that it’s not intended to exclude participation by the West. In principle Western countries could participate without being a member of BRICS, but the West must give up their hegemonic position over the global financial system. They might even be allowed to join BRICS itself one day. It just depends on how willing the West is to give up their hegemonic status.