Brics is taken as a instrument like the Euro. But its not.
It becomes clearer that it is a political instrument not supported by capital investors.
After Covid the US drew more than a third of investments towards the US. Especially private investment which is the engine that makes our world economy run that nicely. Even if you hate the US, the US is the engine of the world. There is no alternative.
One Alternative failed which was the dream of Simon Bolivar, a counterweight to the US:
His ultimate dream was to unite these lands into a single new nation called Gran Colombia.
https://www.historytools.org/stories/discovering-simon-bolivars-legacy-at-colombias-quinta-de-bolivar-museumThe Bloomberg Article on money-flow and how a 3rd ended up in the US,
https://archive.is/zg0XG gives:
For all the angst over the dollar’s dominance, a run-up in US interest rates to the highest levels in decades proved a major draw for overseas investors. The US has also pulled in a fresh wave of foreign direct investment (FDI) thanks to billions of dollars worth of incentives under President Joe Biden’s initiatives to spur renewable energy and semiconductor production.
Money-flow is interesting, It shows where the capital feels safe. Remember the US is the world economic engine.
Countries get abused, but it is mostly the local politicians who sell out the collective national interest.