Conclusion

The idea of a BRICS currency is emblematic of the changing dynamics in the global economic and political landscape.

While the concept carries promise in terms of economic integration and diversification of the international monetary system, its implementation faces a range of challenges.

The geopolitical ramifications of such a currency are equally significant, potentially leading to a recalibration of global power structures.
The United States had enjoyed the “exorbitant privilege” holding the global reserve currency – the “Petro-dollar”.

A BRICS currency would seriously challenge that, and already, many previously “western aligned” oil producing nations are pivoting toward the BRICS and the Shanghai Co-operation Organisation.

As the BRICS nations continue to assert their influence, the world watches with anticipation to see how this potential new currency will shape the contours of the emerging new world order.

Whether it paves the way for a more multipolar and inclusive global system or presents unforeseen challenges, the journey toward a BRICS common currency is a testament to the ever-evolving nature of international relations in the 21st century.

It is, however, similarly emblematic of the acceleration-of-change facing organisations globally, from the sole proprietor, SMEs, global enterprises to public bodies.

Organisations urgently need to assess their structural ambidexterity, agility and their people’s diverse contribution, to equip themselves and acquire the resilience to seize opportunity from this continuous change and the impending “new world order”.

What’s your view on BRICS? A force to be reckoned with or a busted flush…? Please comment below…..

Barry Eustance CMgr MCMI
Kotter Advanced Change Leader Certified
Principal Consultant – The Sixsess Consultancy
Empowering Clients to Seize Opportunity from Change

https://sixsess.org