Bangladesh, July 3 -- In August 2023, the leaders of the BRICS nations-Brazil, Russia, India, China, and South Africa-convened in Johannesburg with a grand ambition: to recalibrate the global financial system. A key focus was their joint call to reduce reliance on the US dollar and forge a more multipolar world economy. This goal, long whispered in the corridors of emerging power centers, was once again amplified against a backdrop of global polarization, rising geopolitical tensions, and increasing dissatisfaction with Western-dominated institutions. Yet, beneath the surface of rhetoric and declarations lies a sobering reality: BRICS is still far from possessing the cohesion, infrastructure, and institutional maturity necessary to reshap...
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