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Thursday, July 18, 2024

US global dominance diminishing

Story by Bruce Chahwanda, Political Editor

POLITICAL analysts say there is a seismic shift globally as more countries lean towards BRICS nations, weakening the dominance of United States in global politics, while on the economic front, the US dollar is being abandoned even in Europe.

The world political and economic order is slowly shifting for the benefit of the BRICS trading bloc whose liberal system has attracted endorsement from other nations at the expense of the big brother mentality of the United States.

The recent visit to China by French President Emmanuel Macron has left the US quaking over losing European allies.

Political analyst Mr Hosea Muvhiringi says the world is following Zimbabwe’s stance of embracing BRICS countries owing to the bloc’s liberal trading system.

“The current shift by many countries leaning towards the BRICS banner is testimony of the world shift from American dominated system to more liberal system of trade. You realise that US has often abused the swift payment system as an enforcement tool in relation to sanctions on countries they don’t agree with politically. So the economies of the world have suffered under US unilateralism swift payment system and we can see that the coming together of some of the world’s biggest countries for example BRICS which command huge trade volumes than US and its European countries do. We have seen this unannounced economic war between China-US, and countries have realised that they can do better outside the US trading system since they survived under sanctions. For Zimbabwe, it makes sense for them to lean more towards China or the BRICS considering that US has shut its doors owing to the existence of illegal economic sanctions,” he said.

Another political analyst Mr Gibson Nyikadzino noted that the multilateralism system by BRICS nations is the centre of attraction.

“What President Macron is saying is there is need for the European bloc to be independent from US. It is also what the BRICS countries are doing. They are giving a vision of the multilateral world in which the dominance of the US is checked politically, economically, and socially,” he said.

Following the imposition of illegal economic sanctions on Zimbabwe by the US and its Western allies, the country faced a number of trade barriers, forcing government to look east for fair trade.

The shift in the world order is expected to isolate the United States from the rest of the world, thus forcing America to revisit its foreign policy.

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