Archives BRICS - Page 13 of 16 - New Eastern Outlook

In the annals of financial history, few narratives are as captivating as the ascent of the United States Dollar. Since the seminal Bretton Woods Agreement of 1944, the greenback has wielded unparalleled influence, staking its claim as the world’s de facto currency. Anchored to the universally accepted Gold Standard and complemented by the establishment of international financial institutions like the IMF and the IBRD (now the World Bank), both generously funded in dollars for the development of emerging nations, the USD embarked on an unparalleled journey. Concurrently, co-operation between the United States and oil-rich…

The BRICS meeting in Johannesburg on August 22–24 has sparked a lot of interest around the world, which is debating what beneficial outcomes will come from this crucial forum. The focus is on analyzing and considering the admission of new BRICS members, including such a prosperous state as the United Arab Emirates. Why such a strong organization as BRICS has focused on this relatively small state with a population of roughly 10 million and an area of 83.6 thousand km raises some question.  The UAE is one of the world’s top oil producers, and oil and gas production together…

The world has been in a condition of global transit in search of a new world order for over 30 years since the fall of the USSR and the breakup of the bipolar world order—the USSR/Warsaw Pact bloc and USA/NATO—as a result of which security and stability will be ensured. Naturally, this process is connected not only with the desire of some and the unwillingness of other powers to search for a new system of international relations but is also a consequence of the objective balance…