They are desperate to prevent and destroy the BRICS+ countries from establishing a new currency outside of the US dollar.
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#Bolivian President Luis Arce at SPIEF: The BRICS economies have been able to break the hegemony of the United States. We exist in an environment that is stopping the world from further development. We do see that our model is an alternative to neocolonial policies based on the US dollar. We see and recognize that we need to focus on eliminating inequality. We cannot allow one country to become the world’s central bank. We are not ready to tolerate any interference from the outside. We see today there is an oligarchy system that serves foreign interests.

This is where the very first socialist revolution in the world happened. And years after, this city was able to hold a victory against fascism. The siege lasted for three years and it was finally successfully stopped. Fascism was defeated.

I believe that today’s world order is moving over to a much more balanced and just state that is based on multipolarity. Of course, we are waiting for various discussions around our transition to a new multipolar world order and a new multipolar economy. where undoubtedly we would be able to learn from the experience of the Russian economy. I’m sure it will have an important role to play in this new world.

This exchange is very important for everyone, especially for those countries that are represented here. Many of them have fallen victim to this model where the world economy is divided into the center and the periphery. This is the situation that led us to a place where we are a country that is producing and exporting only one particular item of goods. It led us to deindustrialization.

The Bolivian economy is now dependent on others. It is an isolated place. This is the market accepting flows of imports from other countries. We have a lot of miners and people working in the extracting industries, and we’re exporting things produced to the world markets.

The government of Bolivia could not change the situation because neocolonialism was spreading its web around our country.

This is why our government, within the framework of our plurinational state, has carefully listened to the desires and dreams of our people. This is how we started the process of industrialization to ensure national sovereignty and liberalization. This is a focus on industrialization and import substitution. This is a very important item on our agenda starting from the 19th century. We have to fight and acquire true economic independence and sovereignty. In order to achieve this goal, we recognize that there are many challenges that we have to face. This is why in Bolivia we believe that being a member of the BRICS group is a great bright prospect for our country so that we can actually focus on the transformation of our country together with accelerated industrialization.

The BRICS economies have been able to break the hegemony of the United States.

They give us all hope for cooperation and the ability of countries to complement one another. As we know, the world of today is a reflection of the capitalist crisis. This is a massive financial crisis, climate crisis, energy crisis, food crisis, water resources, macro-economic situation, world institutions... they are all in crisis.

We see it in the example of international organizations. One of the specific features of this crisis—and certainly it has many dimensions—but the main feature is that we exist in an environment that is stopping the world from further development.

In order to create a new development model that is different from the mainstream we in Bolivia created our own economic model. This is a socially-oriented production economy. This is a model that is different from what now neoliberalism tried to impose on us. Because in our country we have very important and serious measures for social support and care, we are guided by our fundamental values that are core to the indigenous people of Bolivia, and, of course, we focus on manufacturing and production. This is a mechanism to create new reaches for our country. This is the model that has been developed taking into account all characteristics that are typical to Bolivian economy and Bolivian society.

So how does this model function? First and foremost, this model is based on economic growth and development. It has also taken its foundation in the use of natural resources for the good of Bolivian people. This model makes the best of the natural resources with an objective of advanced industrialization and growing of local domestic production.

Since colonial times Bolivia has been rich with a large amount of natural resources. We could recall Cerro Rico de Potosi, the largest silver deposit in our country. Also, we have the largest reserves of lithium on our planet. Gold deposit, zinc, gas, silver, copper, rare earth metals, and so on and so forth. Those are strategically important sectors of our economy. They can help us achieve better indicators in development and they definitely serve the purpose of a fair distribution of all the benefits between the society taking into account the program that our government is conducting.

We particularly focus on those sectors of the economy that contribute to the well-being of our people and create more jobs. We have in mind not just a more fair distribution of profits and combating inequality that is typical for many countries, but we are also willing to invest in other sectors of our economy. We want to diversify our economy. We want to create more jobs. We want to increase profits and the income of our population. We want to ensure sustainable growth and create a truly broad-based economy.

In our case, we are aiming for import substitution. We want to develop tourism. We want to increase the productivity rates in agriculture always in harmony with Mother Earth. That is why our model is all about the diversification of our economy. We want to build a strong broad-based economy and we want to improve the quality of lives of our people. The end target of this process is certainly the elimination of poverty and inequality.

Social and economic models are two models that are complementing one another. We started introducing it in Bolivia in 2006 and we made some considerable economic and social progress. The GDP of Bolivia went up from $945 million back in 2006 to $446 million US dollars last year. The per capita GDP went from $1,370 US dollars up to $3,786 US dollars per capita...

In December last year, we recognized the highest employment in the country. It was about 75% employment rate. We have been able to reduce poverty from 71% in 2005 down to 36% last year. Extreme poverty went down from 38% in 2005 to 11.9% in 2023. The Gini index went down from 0.60 to 0.43 in 2023 which shows that the economic model has brought us some serious economic success both in terms of social progress and economic results.

In the context of the global economic meltdown and the slowdown of growth rates in many developing economies, the growing inequality and poverty in many countries, our model of economic and social development is an alternative approach to developing countries. This model has demonstrated there is a possibility to encourage sustainable growth that is less impacted by various market fluctuations, unlike those countries supportive of free markets.

I also should say that the Bolivian model of economic development is pursuing a goal of reducing inequality and poverty thanks to the specific distribution policy and ensuring price stability. What we see in the rest of the world is that the inflation rate is setting all-time records.

Taking into account the complicated situation of the international arena we see that transportation and logistic costs are going up, the interest rates are going up internationally, and this is a destabilizing factor for many countries.

The growth rates in Bolivia last year were 3.1% which is the second best indicator in South America. Again, this is higher than projected by international organizations. So this model and its social and economic outcomes are clear evidence that there cannot be one single vision of development for the economy and society. On our planet, various ways of developing may coexist.

Certainly, all of it is entirely up to the sovereign decisions of independent countries. They are to decide on their economic and political structures and setups. It has to be the major principle and approach for the whole world.

Our model is an alternative to neocolonial policies based on the US dollar. They are trying to make all other economies dependent on it, undermining multilateralism and a multipolar world.

The economy of Bolivia ensures the full engagement of people economically and socially. We have reduced inequality and we have been able to create a more homogeneous, more fair, and more just society. By doing so, we have proven a hypothesis that a country can develop faster if the incomes are distributed more evenly in a fairer way between all the stakeholders. In today’s multipolar world, we see and recognize that we need to focus on the elimination of inequality.

It is true that emerging economies are trying to strengthen their domestic markets, ramp up their revenues, and reduce inequality. What makes the Bolivian model different is that we have been able to become one of the most dynamically growing economies in Latin America over the last two decades. Yet another element of a multipolar world is cooperation and technology transfer between countries.

Developing countries need support in the development of their technological potential. Together with the Russian Federation, we share the concern that technologies are not fully serving the interests of humanity. This is what they should be doing. They should serve humanity instead of catering to the interests of transnational corporations or individual countries.

It is indeed a paradox that development projects in the poorest countries are the most expensive to implement because the cost of construction and creation of infrastructure is extreme. You need to comply with your nature protection requirements and regulations.

If you look at the developed countries, it is clear that it is important to develop technology transfer also in the area of medical services and healthcare. It became obvious when the world faced the COVID-19 pandemic. We realized that new pandemics may happen in the future.

We are fighting for a healthier society based on traditional and cultural values that we’ve been having for centuries. The culture of our indigenous people frequently does not share those principles that are being spread and enforced all around the world in a unilateral world of capitalism.

We see that a multipolar world is being established today. This is where we need to spread our national currencies for settlement purposes between different countries. We cannot allow one country to become the world’s central bank dictating the monetary policy all around the world. Those times have long passed. We live in a new structure of economy and finance. It has changed dramatically.

In following our social and economic development, we make sure that we take into account the sovereign interests of different countries.

We are not ready to tolerate any interferences from the outside and demand respect for independent countries and their sovereign decisions on the use of their natural resources.

This is why in Bolivia we make a major bet on a multipolar world order. It is decisive for the historic destiny of the whole of humankind.

Shaping this multipolar world is facing various risks and threats.

For example, we need to secure enough food for the constantly growing world population. We’ve been discussing it before that one of the problems of modern capitalism is the food crisis. A solution to this problem has to be found within the paradigm of multipolarity. We need to establish cooperation programs in pursuit of the creation of enough food all around the world. For that, we need to facilitate technology transfer that would increase productivity rates in agriculture.

This should also be one of the foundations for the economic development of a multipolar world. Unfortunately, we see that today, in many countries, there are high rates of undernourishment, poverty, and lack of public services. We see that tremendous funds are being funneled into building military bases in other countries and military budgets—the military bases that are situated in third countries.

We also think that Russia, as well as BRICS countries, are concerned with the threat of hybrid war in many dimensions. It is detrimental to our development and industrialization. We see today there is an oligarchy system that serves foreign interests.

We are talking about that at different conferences—security conferences and scientific conferences. For example, strategic resources like Bolivian lithium can help the industrialization of Russia, China and other developing countries.

The threat to the stability of our government and continued industrialization as well as our model of economic development in Bolivia might lead to such a situation where our political project might be rolled back.

We have a tremendous amount of precious natural resources and we want to produce these resources trying to prevent harm to the environment as much as possible and do that to the benefit of humanity. This should be mutually beneficial cooperation.

Today we should not see such practices as the production of just one mineral element or the growing of just one agricultural good. Now we’re going to the concept of a multipolar, multilateral world and the creation of new blocs such as BRICS countries.

We need to promote, as soon as possible, the building of such alliances and unions in order to promote the goals of this forum. They coincide with Bolivian national goals. We need to join our efforts and come to a multipolar world. This is the path that guarantees stability, peace and development, as well as the happiness of our people in harmony and in balance with Mother Earth.

We need to live well on our planet.

Thank you.

https://x.com/apocalypseos/status/1799936299392246221?t=rWtyz04QmtYtXlmQYmgJXA&s=19

https://www.zerohedge.com/geopolitical/dramatic-scenes-military-led-coup-progress-bolivia

https://x.com/upholdreality/status/1806149802427654314?t=bZ3hjXdRcmWt3YUfYKjj6A&s=19

It is pure coincidence, of course, that the coup occurred after Arce's trip to Russia, and that Bolivia is lithium