<\/p>\n
Venture capitalist Chamath Palihapitiya says that he has a hard time seeing BRICS nations working together to achieve anything significant.<\/p>\n
In a new episode of the All-In Podcast, the business magnate says<\/a> that even though BRICS is made up of economically aligned nations, there are stark differences among them that make any meaningful collaboration seem unlikely.<\/p>\n Given the differences, he doubts BRICS could come up with a currency framework to compete against the US dollar.<\/p>\n \u201cAnd the problem now is that their regional rivalries are only growing. So China and India, which are the two anchor partners of BRICS, are literally in a land war. There\u2019s a border that they fight over with guns. You have a growing anti-Chinese resentment inside of both India and Brazil. In India, they\u2019ve blocked a lot of apps. They\u2019re about to block a bunch of imports. But India sees China as an existential threat. There\u2019s just a lot of anti-Chinese sentiment. So it\u2019s very hard to see folks that are such polar enemies actually working together even if they\u2019re part of an organization.\u201d <\/em><\/p>\n He also says that BRICS lacks a key foundation of shared democratic ideals that an international group like NATO has.<\/p>\n \u201cThe other thing that I\u2019ll say about the BRICS, which is kind of odd, is that unlike the G7 and unlike NATO, where you have democratic ideals that underpin the organizational framework, here it doesn\u2019t because you have China, Russia, Iran, which are total polar opposites to Brazil and India in terms of democratic governance. And I don\u2019t know enough about Ethiopia or Egypt to say anything. They\u2019re not democratic the way like NATO and the G7 are all democratically elected countries.\u201d<\/em><\/p>\n BRICS nations include Brazil, Russia, India, China and South Africa. However, more nations may soon join<\/a> the group. Member countries have recently made moves<\/a> toward abandoning the US dollar.<\/p>\n