Valdai Club

Embedding multipolarity and ensuring polycentricism should remain goals of the BRICS+ community rather than repeatedly seeking to reform institutions and apparatuses whose actual performances have been objectively verified served to maintain combined, uneven, and unjust world systems, writes Rasigan Maharajh in his comments on the Valdai Club’s report “Beyond the Dollar: BRICS Initiatives for a Multipolar System”.

The need to face up to the deficiencies of the Western-controlled monetary and financial system should lead the BRICS to better organize themselves going forward in order to remove at least in part the internal obstacles to change. Although some sensitive matters, such as the possibility of creating a new reserve currency, are only feasible in the longer term, the group should continue to work towards providing practical alternatives not only for themselves but for developing countries as a whole.