Yves Smith — Michael Hudson and Leo Panitch on BRICS Development Bank Salvo v. the Dollar

I would call this the first salvo across the bow of the US. Major countries are getting tired of Washington's program for globalization under the dominance of Western elites. A collation is building of the Global South against the Global North, and there is also bad blood building in the EZ between North and South.

One could also point to growing tension in the US between the North and West Coast, and South and West. And not to forget the tension and long-standing animosity between China and Japan. 

The general rule is that division results in conflict, so this is not a good sign.

Naked Capitalism
Michael Hudson and Leo Panitch on BRICS Development Bank Salvo v. the Dollar
Yves Smith