The head of the Coordinating Committee for Economic Cooperation with African Countries (AFROCOM), Igor Morozov, has stated that the world is undergoing a transition from a unipolar to a multipolar system, with Africa playing a significant role in this shift. Morozov believes that the rise of a newly-minted middle-class in Africa will drive consumer demand and contribute to the formation of a new economic order.
According to Morozov, last year 19 African countries applied for membership in the BRICS alliance, which consists of Brazil, Russia, India, China, and South Africa. These countries seek to establish entirely new economic relations that are not influenced by the current unipolar system. He attributes this desire for change to the realization that the US and the EU have the power to seize a country’s foreign exchange reserves, using them as a political weapon and a means of exerting financial pressure. This abuse of power has caused nations to question the dominance of the US dollar in global trade.
Morozov emphasizes that the dollar has been weaponized, leading to a gradual shift away from using it in trade. Instead, nations are turning towards alternative payment systems, such as those proposed by the BRICS alliance. He states that African leaders are particularly concerned about the future use of the dollar and euro. As a result, the number of African countries wishing to join BRICS is rapidly increasing. Morozov expects that within six months, an alternative payment system will be established, allowing these countries to reduce their reliance on Western currencies.
The push towards trade in national currencies is also gaining momentum within the BRICS alliance. Efforts are being made to establish a joint payment network that will further diminish the influence of the Western financial system, specifically the dollar. Russia’s trade ties with African countries have been strengthening in recent years, presenting new opportunities for growth. Free-trade zones in Africa are actively developing, providing a favorable environment for increased economic cooperation.
Morozov states that Russia is prepared to supply African countries with humanitarian aid in the form of agricultural equipment, mineral fertilizers, and advanced technologies. Russia aims to share its experience and expertise in the agro-industrial complex with its African partners. The goal is to ensure that the African economy has a future with access to innovative technologies.
In conclusion, Morozov’s remarks suggest that Africa’s role in the world is evolving as part of a shift towards a multipolar system. The desire for new economic relationships and the search for alternatives to Western currencies are driving African countries to seek membership in the BRICS alliance. The focus on trade in national currencies and the establishment of a joint payment network will further reduce the influence of the Western financial system. Russia aims to strengthen its trade ties with Africa and provide support through humanitarian aid and the sharing of technological advancements. The formation of a new economic order, with Africa at its center, seems to be on the horizon.