INDONESIA RESMI GABUNG, PUTIN PAMER UANG BRICS! Bagaimana BRICS Lawan Barat & AS dengan Dedolarisasi

Summary

Indonesia has officially joined the BRICS economic bloc as a partner, signaling its growing role in a collective effort to challenge Western dominance, particularly the U.S. dollar. At the BRICS summit in Kazan, Russia, President Vladimir Putin emphasized the need for a new international payment system to counter the U.S. dollar's political influence. The expansion of BRICS, which now represents a significant portion of global GDP, marks a shift in the global economic order. Indonesia's participation aligns with its independent foreign policy, providing access to key projects and resources while signaling the rising influence of emerging economies in global affairs.

Takeaways

• 😀 BRICS, the economic bloc led by Brazil, Russia, India, China, and South Africa, officially welcomed Indonesia as a partner along with 12 other countries after the October 2024 summit in Kazan, Russia.
• 😀 The announcement of Indonesia joining BRICS as a partner makes it easier for the country to eventually become a full member of the bloc.
• 😀 Russian President Vladimir Putin continues his push against the dominance of the US dollar, calling for an alternative international payment system to challenge the dollar's global influence.
• 😀 BRICS serves as a platform for developing countries to unite and challenge Western hegemony, with Russia and China being vocal critics of the US-led global financial order.
• 😀 During the BRICS summit, Putin emphasized the need for de-dollarization, highlighting that nearly 95% of trade between Russia and China now occurs in rubles and yuan.
• 😀 The idea of creating a new BRICS currency was presented at the summit, though it was clarified that the currency shown by Putin was just a mock-up and not an official BRICS currency.
• 😀 BRICS' collective GDP has surpassed the G7's, with the bloc contributing 37.4% of global GDP compared to the G7's 29.3%. This gap continues to widen as BRICS economies grow.
• 😀 BRICS has expanded its membership and partnerships, with countries like Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE officially joining as full members in January 2024.
• 😀 The BRICS summit, held in October 2024, also saw new partners such as Cuba, Bolivia, Turkey, and several other nations from across the globe, signaling the bloc’s growing influence.
• 😀 Indonesia’s Foreign Minister, Retno Marsudi, confirmed that Indonesia’s participation in BRICS is in line with its foreign policy of being active in all international forums, without aligning with any specific bloc.

Q & A

What was the significance of Indonesia's inclusion as a BRICS partner?

Indonesia's inclusion as a BRICS partner marks a key moment in the bloc's expansion and geopolitical influence. As a partner, Indonesia will gain access to collaborative projects, investment opportunities, and financial resources, though it will not have full voting rights or decision-making power within BRICS.

How did Russia's Vladimir Putin view the role of BRICS in opposing Western dominance?

Vladimir Putin sees BRICS as a vital platform for challenging Western hegemony, particularly through dedollarization. He believes that by moving away from the U.S. dollar in international trade, BRICS countries can reduce their dependence on Western financial systems, which he views as politically motivated, especially in the case of Western sanctions against Russia.

What is the concept of dedollarization and why is it important to BRICS?

Dedollarization refers to the effort to reduce reliance on the U.S. dollar in international trade and financial systems. It is a key goal for BRICS, especially for Russia and China, who have been targeted by Western sanctions. Dedollarization is seen as a way to assert economic independence and diminish the power of the U.S. dollar in global markets.

What role does the BRICS summit play in shaping global economic relations?

The BRICS summit serves as a key forum for member countries to discuss and implement strategies aimed at shifting the global economic order. It allows BRICS nations to coordinate on issues like dedollarization, alternative financial systems, and collective efforts to challenge Western economic dominance.

What are the implications of BRICS surpassing the G7 in global GDP contribution?

BRICS surpassing the G7 in global GDP contribution reflects a major shift in the global economic landscape. With BRICS now accounting for 37.4% of global GDP compared to the G7's 29.3%, it signifies the growing economic power of emerging markets and the increasing influence of BRICS nations in global affairs.

What was the controversy surrounding the BRICS currency proposal?

There was speculation about the potential launch of a BRICS currency, with reports suggesting that Putin displayed a mock-up of such currency during the summit. However, it was clarified that the currency was not official and was instead a symbolic gesture to highlight BRICS' collective economic efforts, rather than an actual proposal for a new currency.

Why are some BRICS countries, such as Brazil and India, cautious about moving away from the U.S. dollar?

Brazil and India, among other BRICS members, are cautious about fully abandoning the U.S. dollar due to concerns over the bloc becoming too focused on anti-Western rhetoric and alienating key international partners. They fear that such a move could isolate BRICS and limit its ability to cooperate with a wide range of countries.

What are the benefits of Indonesia's partnership with BRICS?

As a partner of BRICS, Indonesia stands to benefit from access to investment in infrastructure projects, resources, and funding from BRICS' New Development Bank (NDB). Although Indonesia does not have full membership rights, it gains strategic economic advantages through its collaboration with the bloc.

What does Putin's statement about 95% of Russia-China trade using rubles and yuan signify for BRICS?

Putin's statement highlights the growing shift away from the U.S. dollar in trade between Russia and China, showcasing the potential for BRICS nations to adopt alternative currencies in international trade. This is part of a broader effort to promote dedollarization and establish a new global financial system outside of Western influence.

How did the BRICS summit in Kazan impact Russia's international standing?

The BRICS summit in Kazan was seen as a diplomatic victory for Russia, signaling that efforts to isolate the country due to its actions in Ukraine have not succeeded. By expanding BRICS and strengthening ties with countries like China, Iran, and others, Russia reinforced its position in global geopolitics and economics.