Valdai Club

Amid the growing political rift within the G20, Brazil’s G20 presidency in 2024 provides a significant example of a constructive approach to resolving existing contradictions. The government of Brazil, a typical country of the World Majority and the Global South, seeks to preserve all its opportunities to influence the international environment, but to do so, the first task is to load the agenda that the West could use for its narrow political purposes.

The main institutions of the Bretton Woods system, which have existed since the Second World War, are rapidly losing their economic weight. At this time, key actors in the developing world are coming to the fore, calling into question the out-dated rules of the game, including the hegemony of the West. Instead of destroying the legacy of the last century, they offer an alternative economic system where each player is able to influence important decisions at the international level.