Saudis Will Join BRICS: DESTROYING US Dollar Global Power!!
Will Saudi Arabia Join BRICS? What would this mean for the world?
Saudi Arabia has been long considering entering into the Brazil, Russia, India, China and South Africa (BRICS) international economic alliance as it moves away from its traditionally close ties with Western countries. If Saudi Arabia were to become an official member of the group, how would it impact the international economy and geopolitics? And what might this mean for Saudi Arabia’s own economy in the long run? This article explores those questions.
Saudis Will Join BRICS: DESTROYING US Dollar Global Dominance!!
Introduction
Saudi Arabia has been making some major geopolitical moves recently.
In November, Saudi Foreign Minister Adel al-Jubeir announced that his country
would join China’s new Silk Road project, which is set to connect Asia to Europe.The announcement was made after a meeting with Chinese President Xi Jinping in Beijing. The move came shortly after Saudi’s King Salman visited Russia and signed an agreement on energy cooperation with President Vladimir Putin. What does it all mean for the future of global politics? If Saudi Arabia joins BRICS (Brazil, Russia, India, China, South Africa), it could give the group a much more diverse perspective and approach than if they were just looking at how their interests related to Western countries. Countries like Brazil have advocated for some reform in order to make the UN Security Council more representative of the global community rather than just Western interests. A combined BRIC+S could bring about similar changes at the UN level as well as at other international institutions like the World Bank or IMF. [
What is BRICS?
The BRICS was coined in 2001 by Jim O'Neill to represent a group of countries with major economies which were not part of the G7 but shared similar economicgrowth patterns. As BRICs grew more prosperous and their share of global GDP went up, they entered into negotiations with other emerging markets about creating additional institutions to share their collective power. In 2009 at the 4th meeting of leaders from Brazil, Russia, India and China (called BRIC) it was agreed that a new international development bank should be created as well as an emergency fund designed to help out other developing nations who were experiencing financial troubles or natural disasters. It took six years to get these organizations up and running, with the New Development Bank coming online on December 16th 2015 and the Contingency Reserve Fund coming online in July of 2016. At this point, only China's voting shares are being paid for; each country will pay $2 billion USD per year until 2020 when each country will have equal voting shares.
Why Would Saudi Arabia Join BRICS?
Saudi Arabia has been a major player in global finance and politics for decades. With a GDP of $1.9 trillion, it is one of the largest economies on Earth and has vast oil reserves that make it a key player in energy production and distribution. However, recently its rulers have been discussing whether or not to join the BRICS coalition of emerging economies - Brazil, Russia, India, China and South Africa. The Saudis seem to be considering joining BRICS because they are unhappy with their current situation in the Middle East and worry about losing power as new players emerge from within OPEC.
BRICS might be a perfect fit for them if they decide to move forward. It could give them more bargaining power with OPEC as well as access to other resources like gold, which they need due to diminishing oil reserves, while also giving them access to new markets in countries such as India and Brazil. As the Middle East becomes less stable, Saudi Arabia may want to hedge its bets by jumping into another alliance. There's no telling what will happen though, so we'll just have to wait and see what the Saudis decide!
What Would This Mean for the World?
Saudi Arabia has been exploring new diplomatic and economic alliances in response to its ongoing feud with Canada. As one of the most powerful countries in the Middle East, a shift in allegiance could have significant effects on global affairs.
In an interview with Russia's state-run RT news, Saudi Foreign Minister Adel al-Jubeir said that his country is open to establishing better relations with Russia. We want to diversify our investments, he explained, we want to diversify our trade opportunities. The Kingdom also wants more Russian involvement in Syria, citing a big difference between what the Russians are doing and what the Americans are doing. Jubeir expressed hope that Moscow will recognize Riyadh as an
important player in the region. Al-Jubeir is scheduled to visit Moscow next
month to meet with Vladimir Putin and other senior Russian officials.
It is not clear whether the Syrian crisis or Ukraine will be addressed during thesetalks. If Saudi Arabia does establish a stronger relationship with Russia, it may be able to soften some of Moscow's opposition to UN resolutions regarding North Korea and Iran. And, as noted by Bloomberg BusinessWeek reporter Patrick McGeehan, Russia has a demonstrated willingness to play dirty if required. It is difficult to say which side might benefit more from such a partnership.
Conclusion
BRICS is a loose grouping of five countries that has been in place since 2006. The original idea behind BRICS was to create an organization that would be an alternative to the global financial system led by developed countries like the United States and Western Europe. However, it seems unlikely that Saudi Arabia will join BRICS because it is not one of these five countries. Furthermore, even if they were to join, there isn't much they could do as they don't have enough power within the group.
Plus, if Saudi Arabia were to join BRICS they would have less power than they currently have in other organizations like OPEC and G20. It would also put them at odds with the United States and their allies who are trying to end their influence over oil production. In conclusion, it seems unlikely that Saudi Arabia will join BRICS any time soon or ever for that matter. Even if they did want to join, there really wouldn't be much change for anyone involved because Saudi Arabia doesn't have nearly as much power in the organization. So while it may seem like a good idea on paper, Saudi Arabia joining BRICS probably won't happen anytime soon or ever.
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