Trend 2: BRICS countries are forming a new block, also monetary
With a very strong core being formed by Russia and China, the BRICS have economic power and are able to operate more independently than ever before. Together, they are able to change the global order with the United States as the hegemonic power.
Peter Birle, head of research at the Ibero-American Institute (IAI) in Berlin, says: “”The BRICS countries are a group of nations unsatisfied with the international order. The importance of BRICS could rise if Russia remains permanently excluded from the G8.” According to Birle, the five emerging countries seek to permanently upend the power constellations established in 1945 and relative the US position.
Article Appeared @http://beforeitsnews.com/financial-markets/2014/05/the-fall-of-the-dollar-based-monetary-system-russia-puts-the-avalanche-in-motion-2717560.html