Recently, close cooperation is activated remarkably between regional countries in the international arena to realize multi-polarization in the economic field in opposition to the international economic order led by the United States and the West.

The 15 th BRICS Summit which was held in Johannesburg of South Africa from August 22 to 24 brought the issues on economic cooperation between member states, use of national currency in trade and financial transactions and others as major subjects for discussion. The meeting also agreed to include Saudi Arabia, Egypt, the United Arab Emirates, Argentina, Iran and Ethiopia as members of BRICS.

Meanwhile, at the 23 rd Summit of members of Shanghai Cooperation Organization held in India on July 4, a statement was announced to cooperate in the respect of switch to digitization, and documents including its economic development strategy for 2030 were ratified.

Moreover, the 26 th International Economic Forum held in Saint Petersburg of Russia in June discussed the issues of establishing a new international order including the exclusion of transaction in dollar in the world energy trade.

During the past decades since World WarⅡ many developing countries were deprived of their natural resources and sweats of labor by the Western countries, and could not free themselves from the economic subordination and trap of poverty within the old international economic system dominated by the U.S. and the West.

Many countries have a common view that independent development can never be brought about under the current old international economic order led by the U.S. and the West, and that the world should definitely advance towards multi-polarization.

At an international conference held in July, Vice-Chairman of the Parliament of Uganda said that the African continent can achieve economic independence in the future only when it frees itself from the exploitation and sphere of influence by the foreign powers and called for the revitalization of trade and economic relations between the African countries.

President of Uganda said that the Western countries regard Africa as a mere resource-producing area and that the loans and aid packages provided by them are of no value and are even hindering the development of Uganda and the African continent. He also stressed that the African countries, in the future, should tide over their economic difficulties in cooperation with those countries like China and Russia.

An Egyptian newspaper said that BRICS which increased its membership, provides a strategic framework for the new international economic and political development. Some experts commented that BRICS, a cooperation organization of newly-emerging economic states, can play a great role in the establishment of the international economic order by challenging the U.S.-led unipolar economic system.

In August, the Mehr News of Iran also carried an article titled “Multilateral Cooperation Overwhelm Unilateralism” and announced that although the world has been swayed by the U.S.-led unipolar system for decades after the world war, a new world order has been recently emerged against the economic and political domination by the U.S.

It is an irresistible trend of the development of history and only a matter of time that the old uni-polarized international economic system dominated by the U.S. and the West collapses and a new multi-polarized international economic system, equal and fair, emerges.

Such a trend is raising strong waves on an international and regional scale, making the old and unfair West-led economic system outdated.