24 Oct 2024

Emancipation from the West and the quest for multipolarity is one one of the megatrend we are currently following.

The BRICS Summit in Kazan is one illustration of this trend. Narandra Modi on X: "With fellow BRICS leaders at the Summit in Kazan, Russia. This Summit is special because we welcomed the new BRICS members. This forum has immense potential to make our planet better and more sustainable". The “BRICspansion” is part of a plan to “reshape global governance into a ‘multipolar’ world order that puts voices of the Global South at the center of the world agenda. This megatrend have important consequences on the geopolitocal, macro and markets side. Among them: - De-dollarization and lower demand for US Treasuries - Reshoring, friendshoring, nearshoring - From "just-in-time" inventory to "just-in-case" inventory - Higher demand for commodities including precious metals - Structurally higher inflation

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