Скачать или смотреть The Quiet Empire: How BRICS is Building a New Global Financial Order

This analysis details the systematic creation of alternatives to the Western-centric global financial system by emerging economies.
Core Thesis: The Bretton Woods architecture (IMF, World Bank) and U.S. dollar dominance function as a Quiet Empire via debt and conditionality, compelling rising powers to seek financial sovereignty.
Systemic Flaws Identified:
Institutional Rigidity: Outdated IMF quota system and U.S. veto power structurally underrepresent emerging economies.
Financial Colonialism: Imposition of policy conditionality (structural adjustments) viewed as an infringement on sovereignty.
Counter-Mechanisms in Development:
Alternative Institutions: The BRICS New Development Bank (NDB) and the AIIB provide non-conditional infrastructure financing, directly challenging the leverage of Western-led institutions.
De-Dollarization: Active pursuit of regional payment systems and local currency settlements to dismantle dependency on the Petrodollar system and mitigate external shocks.

Summarizes the systematic efforts by emerging economies to build alternatives to the Western-centric global financial system, which is perceived as rigid and structurally biased. The main claim is that the established global financial architecture, rooted in the Bretton Woods institutions and U.S. dollar dominance, operates as a Quiet Empire through debt and conditionality, prompting rising powers to create new institutions and monetary mechanisms to achieve financial sovereignty. The logic is that the Bretton Woods institutions, specifically the IMF, failed to adapt to the shifting global economic power, evidenced by the rigid quota system and the U.S. veto power, which structurally underrepresents emerging economies like China. This institutional rigidity and the imposition of policy conditionality (structural adjustment programs) by the IMF and World Bank—which often mandate privatization and social spending cuts—are viewed by emerging markets as a form of modern financial colonialism. The response is the creation of alternative institutions, primarily the BRICS-led New Development Bank (NDB) and the China-led Asian Infrastructure Investment Bank (AIIB), which offer non-conditional financing for infrastructure, directly challenging the policy leverage of the Western-dominated institutions. Furthermore, the video highlights the active pursuit of de-dollarization through regional payment connectivity and local currency settlements (e.g., within ASEAN) as a direct monetary challenge to mitigate external financial shocks and reduce dependency on the U.S. dollar, which was cemented by the Petrodollar system.