In 2022, Algeria not only enhanced its participation in regional international organizations; it also declared its ambitions on a different, higher or even global level
The application to join BRICS, hosting the LAS summit, the new international activity of Algeria, as well as the stance taken by its leadership in relation to the Russia-Ukraine crisis, make many observers turn their eyes to this North African nation, whose regional role was ...
... on Russia’s reserve assets in the hundreds of billions of dollars.
Such developments put into question the security of the dollar-centered international monetary system, rekindling discussions on the prospects of new reserve currencies such as the BRICS reserve currency. The new entrants in the international currency reserve space that are likely to emerge may include not only national reserve currencies but also currency baskets. If successful, these new entrants can transform the global monetary ...
... creation and developing an integrated approach to labor market policy (all these initiatives were launched in 2013 during Russia’s G20 chairmanship). Besides, Russia views G20 as a useful platform for strengthening economic policy coordination among the BRICS economies (all of BRICS are G20 members) as well as with other heavyweights of the Global South.
G20 evolution: What is the way ahead?
Yaroslav Lissovolik:
Integration along the North–South Axis: Opportunities for Coupling
Looking into the ...
... as the Global Security Initiative, the Belt and Road Initiative (BRI) and the Global Development Initiative. China has also actively pursued greater cooperation among the developing economies in the G20 as well as in other international fora such as BRICS/BRICS+. China's particular emphasis placed on openness and multilateral cooperation in the context of the Global Development Initiative as well as the BRICS+ framework has generated great enthusiasm across the Global South, with a rising number ...
The launching of a new reserve currency if successful will impart a transformational effect on the international financial system
The new BRICS reserve currency can act in concert with the stronger role performed by BRICS national currencies to take on a greater share of the total pie of currency transactions in the world economy, writes Valdai Club Programme Director Yaroslav Lissovolik....
... of the West that allow the rest of the G20 members to look for and eventually find those bold and non-standard solutions that will lead to a new, more just and equal world. Perhaps these decisions will be made within the framework of the G20 minus or BRICS plus, but necessarily by countries interested in real cooperation, and not in obtaining unilateral benefits. It is this difficult year when the foundation can be laid for a stable world order without unilateral mandates, and with mutual respect ...
... conditionally soft forms of interstate cooperation, based on common interests and the desire to promote them by joint efforts. They are open and inclusive, have a variable geometry and a huge potential for further development, coming from life. The SCO, BRICS and EAEU are vivid embodiments of this trend. They oppose the cumbersome military-political alliances inherited from the past, with strict allied discipline, which were created to wage wars: this is the main reason for the crisis of NATO, which ...
Harnessing continental distance for the developing economies may be the single most important mission for BRICS and the New Development Bank (NDB) in the coming decades
Harnessing continental distance for the developing economies may be the single most important mission for BRICS and the New Development Bank (NDB) in the coming decades. The BRICS+ framework ...
... dialogue with African countries has been their participation in global negotiation platforms and non-Western political institutions. In particular, Russia supported the idea of Egypt joining the SCO as a dialogue partner and the launch of the extended BRICS format, which is still under discussion.
For Cairo, institutional access to the Shanghai Cooperation Organization is more than the start of a dialogue on the terrorism-separatism-extremism triad. First, participation in the same security structure ...
... that such new platforms have in store for the openness of global economy, this process also entails intensifying competition between and polarization of these blocs along the North–South axis. In 2022, this opposition was increasingly noted between BRICS and G7, the leading blocs of the Global South and the Global North. Amid these conditions, it is very important to design mechanisms for interaction and cooperation between platforms representing developed and developing nations—already at the ...
