All the former world bodies were created by the Anglo-Saxon White clique to be used to control the world, not to benefit any country other than the White countries. That includes the US$ being set up as the global reserve currency.
BRI and BRICS were created to benefit the rest of the world. BRI was a creation to build infrastructures for people in poorer countries, like in Africa, Central Asia, South-East Asia and South America, to benefit and link up countries in order for them to trade with each other so as to lift people out of poverty.
BRICS creation, in tandem with the BRI, was to give a better deal to countries to trade using their own currencies and eventually setting their own prices without the added cost of using the US$ and having to pay currency conversion losses.
BRICS is still innovating its systems to function outside the US$ hegemony, searching for a new global currency and a new settlement system outside SWIFT. If implemented, it will make USA sanctions impotent and useless.
BRICS has now set up a few commodity exchanges for BRICS countries to use for trade among each other in their respective currencies - a cheaper, better and faster way of conducting trade.
Anonymous
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For decades the world had been led to believe that the USA was the good guy against the bad guys like Russia and China. Communism was touted to be a bad system, and only democracy is good for the world, and everyone must lend a hand to protect democracy against the Communists.
After the breakup of the Soviet Union, the USA thought that it was going to remain the perennial superpower of the world forever with no competitors. The rise of China put paid to that grandstanding moment, and the USA's dream fell apart. China even became a peer competitor, competing with the USA in every sector. This was a hard pill to swallow and that started all the demonization of China, not about its Socialist roots, but about its domination in many sectors.
Using the narrative of the Chinese Government providing subsidies to manufacturing was actually a moot point, knowing that the USA Government had subsidized many of its own sectors and with subsidies that dwarfs what China was doing. It is the pot calling the kettle black and holds no water. That was the reason for the start of Trump's trade war against China, touting subsidies as the reason for the competitive edge of Chinese manufacturers.
Even the Europeans were up in arms over USA subsidies to lure manufacturers to the USA, using tactics such as the 'Inflation Reductions Act' as a cover and not calling a spade a spade. But, as we know, the Europeans had to take it all lying down and watch their industries moving to the USA and elsewhere, without being able to do anything about it.
When trade wars went from 'easy to win' to 'difficult to win', new narratives were formulated like overcapacity and increasing tariffs were dug up to demonize China. Overcapacity is a Godsend for people in BRICS and Global South, with cheaper and cheaper products to enjoy. Increasing tariffs hurts USA consumers more than Chinese manufacturers.
What other nonsense will the USA come up with, now that their AI innovation sectors are facing Chinese headwinds as well?
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