Today, the G20 came to an end. Already before the summit was formally underway Newspapers like Berliner Zeitung reported, that the G20 Summit would be marked by US Imperialisms intent to combat Chinese Imperialism and particularly aim to limit the influence of BRICS, reportedly by strengthening the role of the World Bank. With its conclusion, many other publications set the results of G20 in direct relations to the BRICS groupings developments.


From the G20 Summit


This weekends G20 follows closely on the “XV. BRICS Summit” (BRICS is an acronym for the countries Brasil, Russia, India, China, South Africa) that was held only weeks before, from August 22 to 24, 2023. Among other things that should draw one's attention, that summit announced, that the BRICS grouping would from January 1st 2024 onward also include Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates. This led to Handelsblatt proclaiming this to be a “sign, that the world is being newly ordered” and German state media asking the question of a “New World Order?” emphasizing, that “Many observers believe that the BRICS Plus alliance will shift the world's political and economic balance. The old BRICS group represented 42 percent of the world's population and about 25 percent of global economic output. BRICS Plus, the future group, will represent 37 percent of the world's economic output and 46 percent of the world's population. “ - and this is only denoting some of the quantities surrounding the composition of the grouping. However, the new composition of the BRICS+ does obviously not herald a New World Order but nevertheless demarks a victory for both Russian and Chinese imperialism.




To combat this tendency, US Imperialism put forward during this G20 Summit the idea of promoting the role of the World Bank, a US-based so-called “development bank” that has a proclaimed goal that can be summarized in giving “aid in the development of developing nations, struggling economies, etc and helping them”. In reality of cause, it is a tool of US Imperialism, in collusion with other imperialist powers, to impose its dictates on semi-colonial countries similar to the IMF, develop bureaucratic capitalism and strengthen the role of the US Dollar as currency in the world. At the summit itself, in a rare joint statement the leaders of both IMF and World Bank announced that they would focus more on climate related issues and for this goal work stronger together, particularly in the question of alternative energies, new technologies and improved way for cross-border payments.

Consequently, German imperialism already agreed to flush 305 Million Euro into the World Bank, so that it can issue Credits to states in “need” of them – which in turn, of cause, will have to be used for “projects of alternative energies, new technologies, etc.” in the respective countries, that is buying technology like solar panels or technical know-how from countries like Germany.

However, the question of the World Bank was not the only matter raised that was clearly in the light of international developments. Furthermore, a counter project to the “Belt and Road Initiative” was put on the way with the aim of building massive train, electricity, data, pipeline and other infrastructure projects in the US, the EU as well as India, Saudi-Arabia and the United Arab Emirates, supposedly investing 300 Billion Euros to do so. Also, as its 21st member, the African Union (AU), comprised of 55 countries (!), became a member of the G20 grouping.