How the Brics intend to place themselves as an alternative to Western financial hegemony – Jeune Afrique

2023-08-22 13:08:00

From August 22 to 24, Johannesburg hosts the fifteenth Brics summit. The group of countries consisting of Brazil, Russia, India, Chine and South Africa, which accounts for 23% of global GDP and nearly 42% of humanity, wants to position itself as an alternative bloc to Western hegemony.

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“The traditional system of global governance has become dysfunctional, flawed and inoperative,” Chinese Ambassador to Pretoria Chen Xiaodong said on August 18. With pour theme chosen this year “The Brics and Africa”, the continent is at the center of these new ambitions. While Africa’s population might triple by 2100, the great powers there are stepping up their efforts to strengthen their influence, fueled by competition for natural resources and the potential market that s’y developed.

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