BRAZIL- A New, New World Order in the Making?
The acronym began as a somewhat optimistic term to describe what were the world’s fastest-growing economies at the time. But now the BRICS nations—Brazil, Russia, India, China, South Africa—are setting themselves up as an alternative to existing international financial and political forums.
Brazil, Russia, India, China and South Africa are trying to position themselves as representatives of the Global South, providing “an alternative model to the G7.”
The G7 is an “informal forum” of heads of state of the world’s most advanced economies, founded in 1975. Germany, France, the United Kingdom, Italy, Japan, Canada and the US are members, as is the EU.
In 2014, with $50 billion (around €46 billion) in seed money, the BRICS nations launched the New Development Bank as an alternative to the World Bank and the International Monetary Fund. In addition, they created a liquidity mechanism called the Contingent Reserve Arrangement to support members struggling with payments.
These offers were not only attractive to the BRICS nations themselves, but also to many other developing and emerging economies that had had painful experiences with the IMF’s structural adjustment programs and austerity measures. This is why many countries said they might be interested in joining the BRICS group.
Since the start of the Russian war in Ukraine, the BRICS countries have only distanced themselves further from the so-called West. Neither India, Brazil, South Africa or China are taking part in sanctions against Russia. This has become increasingly clear with near-historic levels of trade between India and Russia, or in Brazil’s dependence on Russian fertilizer.
Günther Maihold, deputy director of the German Institute for International and Security Affairs, believes the West has noticed this change in tack and is trying to counteract it. “They are looking very closely,” he said. “At the G7 summit in Germany in 2022, they made a point of inviting South Africa and India, in order to prevent the optics that the G7 was standing against BRICS.”
-www.dw.com/en, 10 April 2023
Arno's Commentary
The so-called New World Order was more or less established under the USA’s dominance, but it cannot hold that monopoly indefinitely. Out of the awakening nations, particularly communist China presents itself as a super successful nation that is not keen on accepting the West’s dominance.
What are we to make of this development? Again, we emphasize that such is to be expected. One must realize that the BRICS nations represent 3.3 billion people. According to SilkRoadBriefing.com, BRICS has already overtaken the G7 in terms of global GDP. The website also shows the prognosis for 2025 and beyond, in which the G7 will represent only 28% of the world’s GDP, and BRICS countries 35%. How accurate these findings are is subject to debate, but one thing can no longer be denied: the West is in decline when compared to the East. What will be the result? We may say it with one word: equality. Such tendencies are to be expected in order fulfill Bible prophecy. The world will become one.
Arno Froese is the executive director of Midnight Call Ministries and editor-in-chief of the acclaimed prophetic magazines Midnight Call and News From Israel. He has authored a number of well-received books, and has sponsored many prophecy conferences in the U.S., Canada, and Israel. His extensive travels have contributed to his keen insight into Bible prophecy, as he sees it from an international perspective.
