The opportunities BRICS offers while Western economies drown in crisis

Interview to Sputnik Türkiye.

UWI author, historian and political scientist Mehmet Perinçek shared his views with Sputnik Türkiye on Türkiye’s application for membership in BRICS.

The interview was translated into English by UWI.

“Türkiye’s joining in the Eurasian front will drastically change the balance of power in the world”

Mehmet Perinçek emphasized that Türkiye’s future should lie in the “geography where rising economies are”. He began by stating, “We can evaluate Türkiye’s potential accession to BRICS from two aspects”:

“First, considering the global balance of power, as a multipolar world is being established, Türkiye’s positioning on the Eurasian front will significantly shift the world’s dynamics. Recall that Clinton once described Türkiye as a ‘key country’. This ‘key country’ implies that Türkiye can either open Eurasia’s gates to the US and its strategy or close it. From this perspective, Türkiye’s participation in organizations of the multipolar world like BRICS and the Shanghai Cooperation Organization will change global balances in favor of Eurasia and deal a major blow to American strategy on the global scale. Türkiye, with its large economy, strong military, big population and influence in the region, brings much more to the table than just an ordinary country joining BRICS. Secondly, from Türkiye’s perspective, joining BRICS is of great importance.”

“Türkiye’s membership in BRICS is crucial for overcoming the economic crisis and standing stronger against the US”

Perinçek continued by underlining Türkiye’s current confrontation with the US from Syria to the Eastern Mediterranean, from the Aegean to Thrace, and from the South Caucasus to the Black Sea: “The US is encircling Türkiye in these regions. Türkiye can only counterbalance this threat by aligning with countries that face similar threats. Therefore, joining BRICS is vital for Türkiye’s national security. Furthermore, the US doesn’t only threaten Türkiye militarily but also economically using the dominance of the dollar as an economic weapon. The US exploits Türkiye’s fragile economy. By joining BRICS Türkiye can address its economic crisis and stand more firmly against the US.”

“The West is in a severe economic crisis”

When asked about the potential economic effects of Türkiye joining BRICS, Mehmet Perinçek responded:

“Even Western financiers, economists and experts acknowledge that the center of the global economy is shifting from the Atlantic to the Pacific, in other words, from the Atlantic to the Eurasian region. The West is in a severe economic depression. This is not just the observation of people like me or those who advocate for a Eurasian strategy. If you read Western newspapers like The New York Times, The Telegraph, The Times or even The Economist, publications that can be considered the ‘flagships’ of the Atlantic establishment, every day you’ll see reports about the US drowning in debt and Europe facing a production crisis. The picture they paint is grim and desperate.”

“Türkiye’s future lies in the ‘BRICS region’ where rising economies are”

Mehmet Perinçek added:

“Many accept that neither Europe nor the US has a strategy to overcome this crisis. In these circumstances, in the East, in the Eurasian region and in BRICS countries there is a significant economic and production boom. Russia, for example, has not been negatively affected by sanctions, on the contrary, it has entered a phase of increasing its national production. China’s role in the global economy needs no explanation. When we look at India, Brazil, and the other BRICS countries, as well as the newly joined countries like the Gulf states, Egypt, Iran, and Ethiopia, and those still seeking to join, we see that the growing economic powers and energy-rich countries. BRICS represents an alternative to the collapsing globalist liberal economic system: a model based on solidarity and state-driven, anti-liberal economic policies. Today, everyone is looking to BRICS countries. Even former US allies in the Gulf like Saudi Arabia, the UAE, and Qatar, are increasingly engaging in close economic cooperation with BRICS countries. So Türkiye’s future lies in this region of rising economies.”

“Countries can take significant steps to protect their national economies against dollar hegemony”

Highlighting the possibility of establishing a common currency, Mehmet Perinçek stated:

“BRICS needs to further institutionalize and strengthen its structure. With this institutionalization, projects like a common currency could indeed be implemented. One of Russia’s leading economists, Sergey Glazyev, whom I listened to live in Vladivostok at the Eastern Economic Forum a year ago, mentioned that the idea of a common currency is not a dream but a realistic project they are working on. So efforts to create a new common currency are underway as an alternative to the dollar. While this might take some time, there are other ways to counter dollar hegemony in the meantime. One of the most effective methods is trade with local and national currencies. There is already significant trade among BRICS countries. Türkiye is also likely to strengthen its relations with Egypt in the near future. If these countries start doing trade with their own national currencies, it would be a significant step against the dollar. China and Russia have almost completely eliminated the dollar in their bilateral trade. That sets an important example for the possible future ones.”

“BRICS is the economic organization for establishing a multipolar world”

Mehmet Perinçek emphasized the importance of BRICS by comparing it to NATO:

“NATO is a military organization, while BRICS is an economic structure. However, NATO also has its own economic system. It imposes political systems on its member countries as well. NATO is the armed force of a unipolar world. The reason for its very existence is to maintain unipolarity. BRICS, on the other hand, is the economic organization aimed at a political goal: establishing a multipolar world. So economic and military organizations can’t be considered separate.

The confrontation between unipolarity multipolarity has many fronts: economic, political, military, cultural and social. BRICS and NATO represent opposing worldviews.”

Would Türkiye’s potential BRICS membership lead to another European country joining?

Perinçek responded to this question as follows:

“Europe countries’ possibility of joining BRICS is independent of Türkiye’s. However, Türkiye’s membership, given its strategic importance, could indeed shift global balances and potentially trigger interest from European countries to BRICS. That being said, Europe has its own distinct dynamics. Unfortunately, following Russia’s special military operation, many European countries aligned themselves behind the US and US’s strategy. However, there is significant opposition to this within Europe. The economic consequences of the sanctions on Russia also caused serious problems.

As we saw in the European Parliament elections in June and recent elections in two German states, Thüringen and Saxony, there is a growing backlash against following the US’s plans. France is amid a political obscurity.

These movements within Europe opposing the US’s strategy might even come to power. In the near future, when these countries start prioritizing their own interests, an ‘Europe for Europe, not Europe for America’ approach, it will be impossible for them to ignore the rise of Eurasia, so the willingness to join BRICS will inevitably grow.

Additionally, countries like Serbia and Hungary, which are not deeply tied to the European Union or the US, might be the first to show interest in joining.”

How would joining BRICS impact Türkiye’s economy?

Perinçek emphasized cooperating with global powers like Russia and China would positively influence the Turkish economy and concluded his remarks as follows:

“China, from an economic standpoint, is a major determining factor. As we mentioned, the center of the global economy is shifting from the Atlantic to Eurasia. This shift means that Türkiye can only resolve its economic problems with partnerships based on equal relations with rising countries in Eurasia.

Closer economic ties with Russia are crucial for Türkiye’s energy security. The world is currently facing an energy crisis. While Europe and the West are severely hit by this, Türkiye has managed to minimize the impact thanks to its good relations with Russia. By cooperating with Russia in BRICS, Türkiye could even become an energy hub. Azerbaijan is also joining BRICS. Türkiye, Russia and Azerbaijan could develop joint energy projects. This would not only secure Türkiye’s energy needs but could also transform the country into an energy-exporting one.