The Challengers of the Current World Order

China and Russia, along with other countries like India, Brazil and South Africa, are expressing discontent with the current world order led by the United States and the West. Their opposition to this order has no limits, as illustrated in a recent statement by the spokesperson of the Chinese Ministry of Foreign Affairs. With China set to become the world's largest economy and Russia being the second most powerful military nation with a significant nuclear arsenal, these countries play a significant role in potentially dismantling some of the current world order's pillars.

The De-Dollarisation of the International Financial System

The BRICS is a coalition working towards de-dollarization and bypassing US sanctions by establishing an alternative, non-dollar global financial system. This shift towards de-dollarization would weaken the United States' current dominant position in the world order and its ability to enforce economic sanctions. The BRICS countries, along with other nations, are reducing their dependence on the US dollar through initiatives such as the New Development Bank and developing their own global payment infrastructures and central bank digital currencies. Many countries, including China, India, and Brazil, have prospered in the post-cold war era and are leading the push for change in the current world order, which is perceived as not providing security, democracy, or prosperity for much of the world's population. However, there is also a growing number of countries who are neutral actors and do not actively support maintaining the current order."

The US Military Might is Over Stretched

The United States still possesses immense military power as a superpower, but its transatlantic alliance has become a challenge due to overstretched capabilities. As China rises as an economic and military power, the U.S is pivoting its focus to Asia and working towards bringing stability to the Middle East through negotiations with Iran. The recent Russia-Ukraine conflict exposed the limitations of the U.S's reliance on NATO and Europe's strategic autonomy project. Europe, facing the aftermath of the 2008 financial crisis, Brexit, and the Covid-19 pandemic, has fallen behind in digital technology advancements

The Imminence of a New World Order

With the largest economy and largest nuclear power challenging the current world order, and the lack of support from much of the world to maintain it, the future may see the establishment of a new world order or a state of disorder and chaos

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