Talk of a joint BRICS currency feeds into ‘decline of the dollar’ rhetoric. But it is the economic bloc’s focus on innovation that will reshape the international system.
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Geopolitics is forcing BRICS countries to balance respect for international law, self-determination, sovereignty and peaceful resolution of disputes with their friendly relations with Russia.
The US’s negative attitude towards BRICS reflects its own weakening global power, especially its inability to isolate Russia in Europe and to contain China’s growing influence.
Angola’s Dos Santos is buying time. His promise to step down is an attempt to diffuse growing political tensions, as repression continues. He might relinquish his position, but not his power.
