Archives Economic development - New Eastern Outlook

The strategic choice facing India, the UAE, Saudi Arabia, and other large developing economies does not just boil down to choosing between BRICS and the West. These countries continue to follow a multi-vector policy, aiming to simultaneously reap the benefits of cooperation with BRICS, the G7, the EU, and regional institutions.

BRICS is gaining influence not by launching a common currency or confronting the US dollar directly, but by building alternative financial and technological systems that offer developing countries greater choice, cooperation, and economic autonomy.

America might still be the world’s most powerful country economically, but by turning trade into a weapon, Washington may be accelerating the very redistribution of global influence it fears the most.