China, Russia Forms Pact to Promote Multipolar World

BRICS members China and Russia are forming new relationships to advance the notion and goals of a multipolar world. Both nations seek to overhaul the global financial system, which is mainly centralized and dominated by the United States. Russia’s Foreign Minister Sergey Lavrov met with Chinese President Xi Jinping on Tuesday to discuss how to advance new financial ideas.

China, Russia to Promote Multipolar World

China and Russia, both BRICS countries, have promised to safeguard the values of a multipolar world and promote the notion among emerging countries.

According to BRICS, a multipolar world would utilize local currencies for commerce rather than the US dollar. Read on to see how many sectors in the United States will be impacted if BRICS abandons the dollar for trade.

The BRICS members indicated that the US imposed “illegal sanctions” on China and Russia. As a result, they are currently working to establish BRICS-led coordination to create a multipolar world. The purpose is to improve global governance by uniting poor nations against US economic sanctions.

BRICS aspires to boost bilateral communication and multilateral strategic cooperation with emerging nations that prefer to utilize local currency.

China and Russia are on a global tour across Asia, Latin America, and Africa, advancing the de-dollarization and multipolar world agenda.

“China has always attached great importance to the development of Sino-Russian relations. And is willing to work with Russia to intensify bilateral communication. Strengthen multilateral strategic coordination in the BRICS group and the SCO. Demonstrate greater responsibility, unite the Global South countries, and promote reform of the global governance system.”

Chinese President Xi Jinping