Europe Eyes BRICS: A Sign of Terminal Weakness for the US Dollar


The BRICS bloc is expanding, and now even European countries are looking to join. China’s President Xi Jinping recently visited Europe, cementing partnerships that suggest Europe’s interest in BRICS. This is a clear indication that Europe is aware of the declining value of the U.S. dollar. As the 2024 BRICS Summit approaches, more nations are set to join, showing a global shift away from US financial control. The growing interest from Europe highlights a deepening distrust in America’s economic policies and a push for a more robust global financial system.

The BRICS economic bloc is set to continue its expansion effort this year, and a plethora of European countries are seeking to join the collective in 2024. Indeed, reports have suggested that several European nations are seeking consideration for expansion invitations in the upcoming Summit.

A recent visit to Europe by China’s Xi Jinping showcased a mutual desire for partnership. The leading nation of the BRICS bloc saw its president receive a warm reception from European Union nations. Subsequently, it affirms previous reports of Europe’s potential place in an expanded alliance.

European Nations Interested in Joining BRICS in 2024

For much of the last year, the BRICS alliance has been the most important geopolitical force. It has led to a continued global shift away from the US dollar, hindering the increased prominence of Western nations over the global minority. Moreover, it has sought to grow its membership base to include more nations seeking a multipolar world.

With the collective’s 2024 Summit fast approaching, the idea of expansion continues to be discussed. The bloc has affirmed the increasing likelihood that more nations will be invited. Moreover, Europe may implement its renewed interest as it seeks participation.

South African BRICS ambassador Anil Sooklal had previously stated the interest of European countries in joining the alliance. Specifically, during a two-day gathering in Cape Town, the ambassador noted that “Latin America, Asia, and Europe” had sought entry into the BRICS bloc.

france president emmanuel macron brics us west europe union
Source: Bertrand Guay / AFP

There was a speculative response to the assertion, but that has been notably quelled in recent weeks. Specifically, China’s president met with critical European officials during his visit. These interactions worked to strengthen the cooperative engagement between both Europe and the BRICS leader in the near future.

Moreover, the potential for that engagement to extend to the BRICS expansion efforts is likely, considering the mutual interest. Xi’s visit concluded with a signed strategic partnership between France, Serbia, and Hungary.

Among European nations, France has been the most outspoken in its international allegiance to BRICS nations. Subsequently, French President Emmanuel Macron continued his advocacy for increased relations with China.

Now, all eyes are on what European nations are putting together in the bid to join Saudi Arabia, the United Arab Emirates (UAE), and other BRICS+ countries.

This article originally appeared on Watcher.Guru

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