Commentary
Much of the commentary on the motives behind the expansion of the BRICS trading alliance—Brazil, Russia, India, China, and South Africa—announced last month has been centered on the anti-American bias of the coalition.Specifically, behind the smiley-faced façade of an ostensible economic cooperation community lies a deep-seated opposition to the U.S.-dominated global financial system and the weaponization of economic sanctions against any nation that opposes the U.S.-led world order. De-dollarization—i.e., the imminent demise of the U.S. dollar as the world’s reserve currency—has become an increasingly common topic of discussion.
