In the following article, which was originally published on the website of Al Mayadeen, Pedro Monzón Barata argues that, through a series of major initiatives and practical programs, China is offering the Global South tools for financial autonomy, strategic alliances, and development beyond US hegemony:
“At a historic moment when the Western liberal order shows clear signs of exhaustion… China emerges not merely as an economic competitor, but as the architect of a geopolitical alternative… China is no longer an emerging power: it is the only nation with the economic, technological, financial, and diplomatic scale capable of seriously challenging US unipolar hegemony.”
Faced with this reality, he suggests that “Western elites have revived the old rhetoric of the ‘Yellow Peril’ – racist and manipulative narrative that seeks to criminalise the peaceful rise of a non-Western country and justify policies of containment, blockade, and confrontation.”
But for its part: “China’s strategy does not aim simply to displace Washington, but rather – through historical patience and strategic pragmatism – to weave the pillars of a multipolar world in which power is no longer concentrated in a single pole but distributed among multiple centres of sovereign decision-making.”
An example is how the SWIFT international payments mechanism, which has been misused to disconnect Cuba, Russia and other countries from the international financial system, has been answered by China’s rolling out of the Cross-Border Interbank Payment System (CIPS), “an infrastructure that, while not replacing SWIFT, offers a sovereign, more efficient, and less costly channel for international transactions.”
On a grander scale, the significance of BRICS+ goes beyond statistics: “By bringing together the world’s leading oil and gas producers – controlling over 40% of global reserves… and now also incorporating strategic actors from the Caribbean, the Southern Cone, and Southeast Asia, the bloc has acquired unprecedented geopolitical weight.”
Moreover: “Cuba’s inclusion – historically a symbol of anti-imperialist resistance in Latin America, with a small economy but a vast medical, scientific, educational, ethical, solidarity-based, and diplomatic capital – marks a shift of notable significance: for the first time, a socialist Third World country that has resisted more than six decades of blockade joins the core of a bloc aspiring to redefine the global order away from neoliberalism and toward fraternity. This reinforces the BRICS+’s plurinational, anti-hegemonic, and civilisational diversity, distancing it even further from the exclusive G7 club.”
However, the nature and role of BRICS+ should not be overestimated or misrepresented. “Beneath its discourse of South-South solidarity and equitable multipolarity, historical bilateral tensions persist (traditionally between India and China), alongside ideological differences and often contradictory energy and geopolitical agendas. Thus, BRICS+ is not a unified front, but a complex negotiating space where cooperation and competition coexist.”
Latin America is a key arena: “Historically trapped in the dynamics of dependency, the region now sees China as an opportunity to diversify partners and break from its traditional subordination to the West. Yet opposing forces exist: on one side, oligarchic interests subordinate to the United States and Western capitalism; on the other, those who genuinely support deeper relations but simultaneously aim to protect national interests…
“Venezuela and Nicaragua represent paradigmatic cases of how the pursuit of national sovereignty intertwines with the construction of a multipolar order. Both countries, subjected for decades to unilateral sanctions, financial blockades, and destabilisation operations orchestrated from Washington, have found in China a strategic ally that respects their right to self-determination.”
Continue reading China, the construction of multipolar world, and the pursuit of sovereignty