Back to providing an installment of my recent “Deconstructing Rivalry” Essay.   Many of you will find today’s update of particular, even very specific, interest.  It centers on diplomatic subterfuge via the IMF along with America’s original decision to debase its currency.
 
In short, there is an important event that is too often overlooked when it comes to China’s motivations to build a parallel set of global systems, the nearly two-decade long process to reform IMF voting rights.  It was, however, the policy response by Washington to the Global Financial Crisis, putting at risk China’s significant exposure to US Treasuries and GSEs, that demonstrated the length at which America would go to safeguard its unipolar primacy.  Power, whenever required, would be wielded (weaponized) using the dominance of the US$ system.

It would be the combination of these actions that would, ultimately, lead to the formal establishment of the BRICS block.

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