_{GLOBAL NEWS}

Putin Declares the West Is Out, BRICS Is In: Russia's Pivot to a New Global Order

At the 2025 St. Petersburg International Economic Forum, President Vladimir Putin touted BRICS as the future of the global economy, claiming the bloc now makes up 40% of global GDP and will only continue to grow—calling it a “medical fact.” In a dramatic opening, the forum portrayed the U.S. as a fading empire, with imagery of the Hollywood sign in flames, while casting BRICS as the equitable future.

Putin emphasized Russia’s economic pivot away from the West toward markets like China and India, distancing the country from oil dependence and championing “technological sovereignty” in the face of Western sanctions. While sidestepping direct mention of the war in Ukraine, he acknowledged global instability—particularly in the Middle East—and warned against economic stagnation amid Russia’s high inflation and interest rates.

The forum, once dubbed the “Russian Davos,” now underscores Russia’s realignment with the Global South, pushing a multipolar narrative while calling for integration between defense and civilian industries as part of Russia’s structural economic shift. Read More.

_{ECONOMIC NEWS}

Dollar's Decline Accelerates: Central Banks Shift to Gold, Euro, and Yuan

Central banks managing trillions in reserves are rapidly diversifying away from the U.S. dollar, favoring gold, the euro, and China’s yuan as global instability and political uncertainty erode confidence in the greenback. A new OMFIF survey of 75 central banks shows a record number planning to increase gold holdings in the short and long term—signaling the precious metal as the biggest winner.

While the euro is expected to reclaim lost ground and become the most in-demand currency over the next 1–2 years, central bankers see the yuan gaining stronger footing over the next decade, with its share of reserves projected to triple. U.S. political turmoil, including the fallout from Trump’s April 2 “Liberation Day” tariffs, has pushed the dollar to its lowest favorability in years.

Though the dollar will likely remain the top reserve currency, its dominance is expected to shrink from 58% to 52% by 2035. Analysts say the euro could reclaim a 25% share of global reserves—potentially within 2–3 years—if the EU strengthens capital markets and expands its bond supply.

The global monetary map is shifting, and central banks are making it clear: they’re no longer betting on the dollar like they used to. Read Now.