The global landscape in 2025 has shifted dramatically from a decade ago. Traditional tactics like threats of tariffs and sanctions are losing their influence as nations adapt and find new paths to prosperity.
Efforts to control global economics through one-currency dominance are being challenged by emerging alliances. The BRICS nations—Brazil, Russia, India, China, and South Africa—are fostering cooperation and shared prosperity, moving away from over-reliance on any single currency. As the Chinese Ministry of Foreign Affairs emphasized, BRICS is about fostering cooperation and shared growth.
Take Russia as an example. Faced with extensive sanctions from the West in 2014 and 2022, many expected its economy to crumble. Instead, Russia developed its own financial systems. The System for Transfer of Financial Messages (SPFS) emerged as a domestic alternative to SWIFT, and the Mir payment card system stepped in for international giants like Visa and Mastercard. These innovations 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.
Similarly, Türkiye turned challenges into opportunities when faced with restrictions on access to U.S. technology and equipment, including F-35 jets and armed unmanned aerial vehicles. Türkiye invested in its own resources to produce this equipment domestically and has begun exporting to countries in the Middle East and Africa.
The resilience of Russia and Türkiye is indicative of a global shift. More nations are seeking a more equitable world order. The recent G20 Summit in Brazil marked a historic moment with the African Union attending as a full member for the first time, signaling a new vision for global cooperation.
BRICS nations are also redefining global trade by turning to their own currencies, reducing dependence on the U.S. dollar. Brazil and China now trade in their national currencies, a move echoed by India and its regional partners. The BRICS New Development Bank is increasing efforts to finance projects in local currencies, offering a fresh approach to international funding without reliance on Western institutions. Additionally, there are ongoing efforts to create a BRICS blockchain-based payment system.
This shift isn't about making political statements; it's about pragmatism. The world has witnessed the vulnerabilities of a dollar-dominated system, with crises like the 2008 financial meltdown and the pandemic-induced global recession affecting economies worldwide. Over-reliance on a single currency has proven risky.
As nations adapt to these realities, threats, sanctions, and attempts at economic domination are becoming less effective. The future points toward a multipolar world where cooperation and shared prosperity take precedence over confrontation and control.
