Politico, 06.09.2023
In an opinion piece for Politico Europe, Andrea Binder and Ricardo Soares de Oliveira examine how the BRICS countries (Brazil, Russia, India, China, and South Africa) publicly criticize the Western-dominated offshore financial system while actively benefiting from it. From capital flight and shadow financing to tax avoidance, these states rely on the very structures they claim to oppose.

The article argues that meaningful global financial reform remains unlikely—not only because of Western resistance, but also because many governments in the Global South have little interest in changing a system that serves their own interests.