My Brain Food This Week...

Sep 08, 2023

(Noah Smith)

Key takeaways:

China's strategy involves creating and funding international organisations led by China to exert influence over the developing world, primarily for trade and investment access and to project Chinese power and values.
The BRICS group, comprising Brazil, Russia, India, China, and South Africa, has failed to achieve substantial economic initiatives, despite initial expectations. The New Development Bank and Contingent Reserve Arrangement have had minimal impact.
BRICS is unlikely to become an anti-NATO bloc, as member countries have conflicting interests, differing values, and strategic rivalries, especially between India and China.
China's ambitions to replace the U.S. dollar or challenge Western financial dominance through BRICS face obstacles, as member countries have their own monetary policies, and the global financial system is not as controlled by the West as perceived.
China's leadership over the developing world, a goal associated with BRICS, may be challenged by the limited rapid growth potential within BRICS countries and the shifting economic allegiances of developing nations toward democratic rivals amid China's territorial ambitions in Asia.

Self-Taught MBA