Paulo Nogueira Batista: ‘A declining superpower is dangerous’ – Urgency for BRICS financial alternatives

Source: La Vanguardia | Original Published At: 2026-01-05 22:40:33 UTC

Key Points

• Warns of financial instability from U.S. decline and potential dollar collapse during future crises
• Advocates for BRICS to accelerate development of alternative payment systems and reserve currencies
• Highlights geopolitical weaponization of Western financial systems against non-aligned countries
• Notes challenges in creating new reserve currencies due to China's economic position and capital control risks
• Criticizes BRICS' slow progress while acknowledging U.S. pressure on new members like Egypt/Ethiopia
• Suggests China's cautious approach to global hegemony despite economic strength