British economist and columnist Martin Wolf believes that Western countries will have to admit that they are no longer able to rule the world due to the growing influence of the BRICS. This is reported by RIA Novosti, referring to the Financial Times.
Wolf argues that Western countries will have to admit that they are no longer able to rule the world due to the growing influence of the BRICS countries. He notes that the time of the unipolarity of the United States and the economic dominance of the G7 have already passed into history.
“Both the time of unipolarity under the US and the economic dominance of the G7 are history. <…> Yes, the G7 must defend its values and interests. But it will no longer be able to rule the world, even though its fate will still depend on its members,” he said.
The observer believes that “the intention of 19 countries to join the BRICS” speaks of the increased role of the association at the international level. The expert emphasizes that BRICS now has every chance to become a significant global group.
“Now the BRICS seem to be on their way to becoming a significant global group. Obviously, its members are united by a desire not to depend on the whims of the United States and its closest allies, which have dominated the world for the past two centuries”, summed up Wolf.
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