Prof. Dr. Hussein is the Founder, CEO and General Manager of ‘Alehterafy Global Center for Sustainable Economic Development Consultancies.
I had had all of my higher scientific degrees in economics, I used to be University lecturer for 14 years, I had been supervising more than 22 students in Masters and PhD. Degrees, beside my routine lecturing load. Moreover, I’m certified professional first consultant trainer in 15 training subjects in the economies development and the strategic planning. I had offered more than 250 training sessions, attended by more than 5,000 beneficiaries. As concerned with my academic performance and products, I have conducted and presented 29 per-reviewed scientific research papers in conferences, forums and symposiums abroad, 36 internal scientific research papers and issued 9 books in : Global Economic Crisis, Poverty and Sustainable Development, Knowledge Economy, Entrepreneurship and Economic Projects management and the Feasibility Studies. Furthermore, I’m founder and member of many global societies and associations i.e. Tasca, World Association for Chinese Studies “WACS”, TURAP, and others. My concerns are about (Turkish, USA, EU, Arab World, Africa, China and the BRICS) Economies. In addition to debts, budget deficits, growth, and development issues.
Economies
(1)
BRICS and USA between Rivals and Fear
Since 2008 when the global financial crises hit the global economy; which emerged in Wall Street in the United States of America (USA), many questions raised about the future perspectives of the dollar as reserve currency and as a means of transactions between the countries. Many alliances in the world tried to untie from the dollar but the “SWIFT”, the “SWIFT” which stands for “Society for Worldwide Interbank Financial Telecommunication” due to this system all the global payments and transactions should pass through the USA. Therefore, the “BRICS” which stands for Brazil, Russia, India, China and South Africa trying many times to find a substitute system for the “SWIFT”. In the last “BRICS” summit which held in Oct. 2024 the BRICS nations are pushing to develop a new inter-bank system to free themselves from SWIFT – a Western–based mechanism – and enable transactions without relying on the U.S. dollar, U.S. policies, or sanctions. This initiative has attracted significant economists, financial intellectuals, governments, private sector and media attentions. However, a recent report indicates that Western financial institution like the International Monetary Fund “IMF” and the World Bank are implementing policies to hinder this development. Because the West and BRICS both are in real rivals and are afraid of each other. The causes of in rival the BRICS represent the majority in term of population and if they succeed in the de-dollarization process this means it is the turning point of the collapse of the dollar and the BRICS will dominate, at the same time both side are afraid, why, because the principles, capabilities and the advantages of the BRICS new financial system is still in the experimental stage within the BRICS countries and their alliance.
Prof. Dr. Hussein Suleiman Mohammed Ahmed
Economic Expert, AGCFSEDC, founder and CEO
Nov. 04, 2024
