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BRICS and the new wealth order

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THE fast pace with which the progressive world is moving away from the now outdated unipolar world politics and economic systems means countries like Zimbabwe must capitalise on the many opportunities emerging from the BRICS.
The past few weeks have given the world morale boosting indicators that the rise of a multipolar world is unstoppable with indications that more than a dozen countries, including Zimbabwe, are ready to join the development and people oriented BRICS.
We have seen South Africa boldly indicating that it will not be bullied by Western countries that are using their biased International Criminal Court to try and indict Russia President Vladimir Putin over untested allegations of human rights abuses.
The refusal by South Africa, which will host the BRICS Summit in August, to allow Western countries to take the glow from that game changing gathering and to renounce its long standing relations with Russia is a crucial and timely pointer that the world can no longer tolerate unrestrained abuse of privilege by the West.
China’s signing of a historic agreement with South American powerhouse Brazil on Thursday last week to use the Yuan for trade between the two nations was yet another huge leap away from the US dollar as the world’s reserve currency.
Several other countries including Saudi Arabia, India, Russia and Bangladesh are following suit.
The biggest opportunity for Zimbabwe is that it can swiftly cut off the prevailing reliance on the US dollar which has had a serious impact on the cost of doing business as well as an unsustainable import bill.
The anchoring of the Zimbabwean dollar on primarily gold means the country can then look at the recently introduced minerals stockpiling drive to further strengthen its currency while phasing out the US dollar.
A strengthened local currency means reduction in cost of doing business and increased savings for locals at high interest rates.
Borrowing would naturally attract low interest rates for both individuals and companies.
This is why emerging global dynamics are crucial for the country’s economic revival efforts and have to be followed closely.
Whereas the unipolar world is anchored on inequality and wanton abuse of other nations by the West, the global civilisation agenda has its roots and objectives premised on equal opportunities for all.
This is the route countries like China and Russia, that supported the liberation of many African countries like Zimbabwe, are steering the world towards.
The first step towards attaining that goal has been the gradual shift from the Petrodollar trade which the US has made good use of to stifle economies of nations they claim ‘…pose an unusual and extraordinary threat to the foreign policy of the United States of America’.
That foreign policy is driven by the US’ relentless desire to control the globe through theft and plunder of other countries’ resources by funding anti-people opposition parties that are told that theirs is a fight for democracy not the upliftment of the livelihoods of those they claim to fight for.
Zimbabwe, a country that has given its people access to their land and resources, is said to be one of the countries that pose that indefinable threat to the once mighty Uncle Sam.
The illegal economic sanctions on the country are an ominous reminder of the lengths to which the West is willing to go in order to reverse the gains of the struggle.
As with every other hideous trick that the West has hit Zimbabwe with, that too will fail.
A March 28 2023 article by The Tricontinental titled: ‘On the Threshold of a New International Order’ details how the shift in dynamics will result in what is now commonly referred to as a new wealth order.
“Since the world financial crisis of 2007–08, the United States and its North Atlantic allies have become acutely aware that their hegemonic status in the world has deteriorated,” reads the report in part.
“This decline is the consequence of three key forms of overreach: first, military overreach through both enormous military expenditure and warfare; second, financial overreach caused by the rampant waste of social wealth into the unproductive financial sector along with the widespread imposition of sanctions, dollar hegemony, and control of international financial mechanisms (such as SWIFT); and, third, economic overreach, due to the investment and tax strike of a minuscule section of the world’s population, who are solely fixated on filling their already immense private coffers. 
This overreach has led to the fragility of the Western states, which are less able to exercise their authority around the world.”
For countries like Zimbabwe, unhindered access to new and existing markets means that the country can now easily evade the illegal economic sanctions being used by Western countries to catapult the opposition to power.
It also means trade on platforms of equality will be the reality of the times, meaning producers of various goods and services get real value for their efforts.
For the country to be fully prepared for the impending changes, research and innovation in areas of agriculture, through the setting up of modern systems which feed into the value chain, are more critical than ever.
In mining, increased innovations in exploration and mining technology as well as expertise will give the country an accurate assessment in terms of value of what is beneath the surface.
The energy sector has to be capacitated in order to meet the demand for the looming industrial activities.
The good thing about Zimbabwe is that it is already on the path to be in sync with the changes on the global scale through the Land Reform and Resettlement and the economic empowerment programmes which have allowed its citizens to be participants in the country’s economic revival efforts.
We have already laid firm foundations towards being a key contributor to global GDP.
In the meantime, let no sane mind be distracted by the hollow noises from the other side of the political divide.
Let those with ears listen.

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