International politics

[Nmjut]

In recent times, the world order is shifting from unipolarity to multipolarity. The concept of multipolarity is being perpetuated by emergence of regional platforms such as; BRICS, SCO, and many more. All these platforms, especially BRICS, under the soft power of china are collectively working to counter the concept of unilateralism. They are doing trades in their local currency in order to promote the concept of multilateral trade in global market. The another objective behind it, to counter the influence of the USA dollar. Hence, all emerging economies are working together to build a new world order of multipolarity.

[MusicLand]

I agree that the world is moving toward multipolarity but to be honest the dollar still has a massive head start in terms of liquidity and trust, even the BRICS development bank is still mostly using dollars for its own operations which is kind of ironic if you think about it, in my opinion a "brics currency" is still a long way off because getting india and china to agree on a single monetary policy is like trying to mix oil and water, do you really think these emerging economies can build a stable system without a single clear leader like the us used to be?