Archives Global development - Page 9 of 9 - New Eastern Outlook

Russia and China have long been struggling to establish a new world order, an order that will not have the West as its centre and the US dollar as the main currency shaping the global economic system. The new world order will be multipolar. Within this order, it will be possible to trade without USD. But while multipolarity and non-USD currency arrangements indicate some of the key features of the new order – and they are very important – they are not by themselves the mechanisms that could potentially yield a new world order. For a new order to become possible…

Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, Egypt, and the United Arab Emirates were all sent invitations to join the newly formed BRICS economic bloc, marking the organization’s largest expansion in its history.  The accession of these geographically dominant countries will take effect on January 1, 2024.  BRICS leaders left the door open for future expansion among a long list of countries that have expressed interest in joining an organization they hope can help them with political and economic development by voting in favor of expansion, the first since South Africa joined the bloc 13 years ago. Without a doubt, the countries chosen at this year’s summit…

Tensions are rising in the world. Mostly as a result of Western powers’ provocation of fresh conflicts and the rekindling of old ones in order to retain their control.  Their aim is clear: to continue profiting from human suffering, to scare people, to subjugate countries as vassals within the neocolonial system, and to ruthlessly plunder their resources. Developing nations are strenuously starting to defend their national interests because they no longer wish to accept their oppressed position. Some well-known Western economists believe…