China’s Xi Jinping, India’s Narendra Modi and other world leaders arrived Tuesday in the Russian city of Kazan for a summit of the BRICS bloc of developing economies that the Kremlin hopes to turn into a rallying point for defying Western influence in global affairs.
For Russian President Vladimir Putin, the three-day meeting also offers a powerful way to demonstrate the failure of U.S.-led efforts to isolate Russia over its actions in Ukraine.
Kremlin foreign affairs adviser Yuri Ushakov called it “the largest foreign policy event ever held” by Russia, with 36 countries attending and more than 20 of them represented by heads of state.
The alliance that initially included Brazil, Russia, India, China and South Africa has expanded rapidly to embrace Iran, Egypt, Ethiopia, the United Arab Emirates and Saudi Arabia. Turkey, Azerbaijan and Malaysia have formally applied to become members, and a few others have expressed interest in joining.
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Proposed projects include the creation of a new payment system that would offer an alternative to the global bank messaging network SWIFT and allow Moscow to dodge Western sanctions and trade with partners.
I thought India were essentially part of "the western" allies. I guess this plus all the international espionage and assassination attempts means I missed a memo. It must have been circulating while they buying all that Russian oil at deep discount, helping keep global supplies up.
Brazil is also a bit of a surprise, given how much they rely on NAFTA... excuse me, USMCA trade and technology shares in cooperative economy building. It's why they've been burning down the Amazon for the last three decades, isn't it? To shift meat and soy production and manufacturing there? Again, I must be way behind the times and probably should pay more attention global affairs than I do.
They're just countries that hate the fact that the USD is the world's currency. BRIC has tried unsuccessfully for the past decade + to get off USD. I'm sure adding SA to the mix will change everything.
They're very weakly aligned around a catchy acronym and some trilateral agreements.
" Hey OP, listen to my advice alright." -Tha General "No scientific discovery is named after its original discoverer." -Stigler's Law of Eponymy, discovered by Robert K. Merton MYT
BRICS are not supposed to be enemy of the west or US. Just an alternative to US led economy which is lately become risky because US can elect leader like Trump which can suddenly decide to set high tariff on everything from other countries.
Victoria Raverna wrote: ↑Thu Oct 24, 2024 6:42 am
BRICS are not supposed to be enemy of the west or US. Just an alternative to US led economy which is lately become risky because US can elect leader like Trump which can suddenly decide to set high tariff on everything from other countries.
The global economy is a battlefield. An "alternative" to the dominant paradigm is an opponent. Their goal of de-dollarization would have a significant negative impact on the US economy. Fortunately for the US, the BRICS are a long way off from de-dollaring.
" Hey OP, listen to my advice alright." -Tha General "No scientific discovery is named after its original discoverer." -Stigler's Law of Eponymy, discovered by Robert K. Merton MYT
Victoria Raverna wrote: ↑Thu Oct 24, 2024 6:42 am
BRICS are not supposed to be enemy of the west or US. Just an alternative to US led economy which is lately become risky because US can elect leader like Trump which can suddenly decide to set high tariff on everything from other countries.
Great.
None of them have ever set a high tariff so it should be easy peasy.
Economies by their very nature are competitive, whatever label you want to give it and the competitors.
Victoria Raverna wrote: ↑Thu Oct 24, 2024 6:42 am
BRICS are not supposed to be enemy of the west or US. Just an alternative to US led economy which is lately become risky because US can elect leader like Trump which can suddenly decide to set high tariff on everything from other countries.
Great.
None of them have ever set a high tariff so it should be easy peasy.
Economies by their very nature are competitive, whatever label you want to give it and the competitors.
Victoria Raverna wrote: ↑Thu Oct 24, 2024 6:42 am
Just an alternative to US led economy which is lately become risky because
lol
The alternative to risk:
Brazil, Russia, India, China , South Africa , Iran, Egypt, Ethiopia, the United Arab Emirates , Saudi Arabia, Turkey, Azerbaijan and Malaysia.
Victoria Raverna wrote: ↑Thu Oct 24, 2024 6:42 am
Just an alternative to US led economy which is lately become risky because
lol
The alternative to risk:
Brazil, Russia, India, China , South Africa , Iran, Egypt, Ethiopia, the United Arab Emirates , Saudi Arabia, Turkey, Azerbaijan and Malaysia.
Risky for them. As you can see almost all of them are countries that can be made into enemies by US.
