North Korea's Perspective on BRICS Expansion. Jeongmin Yoon, ESG Intern, Incheon National University.
BRICS countries (Brazil, Russia, India, China and South Africa) are moving to establish a new international monetary system to replace the U.S. dollar. North Korea claims that the current international economic order is unfair, centered on the U.S. dollar, and welcomes the expansion of the BRICS to break this unequal order. "The unprecedented international movement to restrict the use of the Dala (dollar) and the trend of many countries joining the BRICS are accelerating the end of the dollar as a key currency and the subsequent end of U.S. hegemony," the (North) Korean Central News Agency KCNA said in a report issued under the name of international critic Jung Il-hyun. "It is a well-known fact that the dollar-based international monetary system has become the second pillar of the U.S. global hegemony along with military means," the news agency said. "A representative example is financial sanctions imposed on Russia after the Ukraine crisis." BRICS countr...