Bolivian President at SPIEF: BRICS ‘Smashed’ US Hegemony

Mohamed Samir
1 Min Read

Speaking at the St. Petersburg International Economic Forum (SPIEF), Bolivian President Luis Arce stated that the BRICS economies have successfully challenged US global dominance.

“The economies of the BRICS bloc have been able to smash the hegemony of the United States,” Arce declared,highlighting the group as a beacon of hope for international cooperation and economic complementarity.

The Bolivian President emphasised that the world order is shifting towards a fairer, more balanced, multipolar and multilateral system.

Arce further revealed Bolivia’s interest in joining BRICS, citing the bloc’s “tremendous prospects for transformation and transfiguration along with accelerated industrialisation.”

The BRICS group, initially formed in 2006 by Brazil, Russia, India, and China, expanded in 2011 to include South Africa.

In August 2023, six new members were invited to join, but Argentina declined the offer. On January 1, 2024, Egypt, Iran, the United Arab Emirates, Saudi Arabia, and Ethiopia were officially welcomed into the BRICS alliance.

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Mohamed Samir Khedr is an economic and political journalist, analyst, and editor specializing in geopolitical conflicts in the Middle East, Africa, and the Eastern Mediterranean. For the past decade, he has covered Egypt's and the MENA region's financial, business, and geopolitical updates. Currently, he is the Executive Editor of the Daily News Egypt, where he leads a team of journalists in producing high-quality, in-depth reporting and analysis on the region's most pressing issues. His work has been featured in leading international publications. Samir is a highly respected expert on the Middle East and Africa, and his insights are regularly sought by policymakers, academics, and business leaders. He is a passionate advocate for independent journalism and a strong believer in the power of storytelling to inform and inspire. Twitter: LinkedIn:
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