The Rise Of BRICS And The Fall Of The G20
When the the G20 aka Group of 20 was created in 1999, the United States was the big dog at the table and saw this new entity as another forum/tool giving Washington more de facto control over the international financial system — created in the aftermath of World War II in order to coordinate international economic policy with the the U.S. dollar as the reserve currency — via the International Monetary Fund and the World Bank, and the World Trade Organization. It is no coincidence that the G20 meeting in India comes on the heels of the successful BRICS summit two weeks ago in South Africa. What a contrast! BRICS is growing and has a long list of countries from the Global South clamoring for membership while the G20 is losing its luster and clout.
