In the year 2025, the global landscape has transformed significantly from just a decade prior. Traditional tactics like threats of tariffs and sanctions are losing their effectiveness in influencing international relations. Nations around the world are no longer swayed by such measures, as they forge new paths toward economic cooperation and financial independence.
On his first day in office, recently sworn-in U.S. President Donald Trump threatened to impose a 100 percent tariff on BRICS nations if they continued their efforts to reduce reliance on the U.S. dollar. \"As a BRICS nation, they'll have a 100 percent tariff if they so much as even think about doing what they thought, and therefore they'll give it up immediately,\" he declared.
However, the response from the international community indicates a shift in attitudes. The Chinese Ministry of Foreign Affairs emphasized at a regular press conference that the BRICS alliance is focused on fostering cooperation and shared prosperity, not confrontation. The world is gradually moving away from an era dominated by a single currency and sanction-driven policies.
Russia serves as a prime example of this shift. Facing a wave of sanctions from Western countries in 2014 and again in 2022, many predicted an economic downturn. Instead, Russia adapted by developing its own financial systems. The System for Transfer of Financial Messages (SPFS) emerged as a domestic alternative to SWIFT, and the Mir payment card began to fill the role of Visa and Mastercard. These initiatives not only insulated the Russian economy but also strengthened financial ties with non-Western allies such as Türkiye, Kazakhstan, and nations in the Middle East, reducing dependence on Western-dominated systems.
Similarly, Türkiye faced restrictions from the U.S., including limited access to technology and equipment like F-35 jets and armed unmanned aerial vehicles. In response, Türkiye invested in its own resources to produce this equipment and even began exporting to Middle Eastern and African nations. This resilience highlights a global trend of countries seeking self-reliance and diversifying their economic partnerships.
The desire for a more equitable world order is also evident in recent international gatherings. The G20 Summit in Brazil last year marked a historic moment as the African Union attended as a full member for the first time, signaling a new vision for global cooperation. The G20 now represents a broader spectrum of nations, reflecting changing dynamics in global leadership.
BRICS nations—Brazil, Russia, India, China, and South Africa—are actively redefining global trade practices. By conducting commerce in their own national currencies, they are reducing dependence on the U.S. dollar. Brazil and China have established trade agreements using their local currencies, a move also embraced by India with its regional partners. The BRICS New Development Bank is financing projects using local currencies, offering an alternative to traditional Western financial institutions. Additionally, efforts are underway to develop a blockchain-based payment system within BRICS, further solidifying financial autonomy.
These developments are driven by pragmatism rather than political statements. The global community has witnessed the vulnerabilities of a dollar-dominated system, particularly during crises like the 2008 financial meltdown and the recent pandemic-induced global recession. Over-reliance on a single currency has proven risky, prompting nations to explore more stable and diversified economic strategies.
The fading efficacy of threats, sanctions, and one-currency dominance signifies a pivotal shift in international relations. Countries are increasingly collaborating to create a more balanced and resilient global economy. As the world moves forward, cooperation and mutual respect are becoming the cornerstones of international engagement, marking the end of an era where unilateral actions dictated global dynamics.
