Leaders from the BRICS group of developing nations gathered on August 22, to strategize the bloc's path forward, yet internal divisions resurfaced as the debate over expanding the group intensified, Reuters reported.
As the tensions stemming from the Ukraine conflict and China's growing rivalry with the United States persist, China and Russia aim to bolster BRICS' influence. The August 22-24 summit in Johannesburg, involving South Africa, Brazil, and India as well, is seen as an opportunity to strengthen the grouping as a counterbalance to Western dominance in global institutions, as Daryo reported earlier.
Chinese President Xi Jinping's absence from the event despite the presence of other leaders like South Africa's Cyril Ramaphosa, Brazilian President Luiz Inacio Lula da Silva, and India's Prime Minister Narendra Modi sparked curiosity. While Xi had earlier met with Ramaphosa, his remarks were conveyed by Chinese Commerce Minister Wang Wentao, emphasizing China's economic strength and reiterating its dedication to sustained growth in the long run.The reason for Xi's absence remains unclear.
Diverging views within the bloc
Brazil's Lula highlighted a divergence of vision within the bloc, indicating that BRICS does not aim to compete with the G7, G20, or the United States. While enlargement and strengthening the use of local currencies in trade discussions are on the agenda, South African organizers ruled out discussions about a common BRICS currency.
De-dollarization and Russia's position
Russian President Vladimir Putin, in a pre-recorded statement, emphasized the increasing momentum of de-dollarization in economic ties. Russia's economy grapples with Western sanctions due to the Ukraine war. While Putin faces an international arrest warrant for alleged war crimes in Ukraine and is represented by Foreign Minister Sergei Lavrov at the summit, Russia remains interested in expanding BRICS membership.
BRICS consists of countries with varying geopolitical stances, from China's economic might to South Africa's developed status within Africa. India's outreach to the West, Brazil's under its new leader, and periodic India-China border disputes contribute to the bloc's decision-making complexities. White House national security advisor Jake Sullivan noted BRICS' diversity and differences of view on critical issues, dispelling the notion of it becoming a geopolitical rival to the United States.
Expansion goals and resonance
China's aim for BRICS expansion seeks to enhance the group's impact, given its existing representation of 40% of the global population and a quarter of global GDP. While over 40 nations express interest in joining BRICS, internal concerns persist. India, cautious of Chinese dominance, holds a positive intent, and Brazil seeks to maintain influence amidst concerns of dilution. Despite uncertainties surrounding enlargement, BRICS' pledge to champion the developing world and provide an alternative to Western-dominated world order resonates.
Prospects for the summit
The BRICS leaders' summit includes discussions on framework and criteria for new member admissions, and despite Argentine officials suggesting no new admissions during the event, over two dozen countries have formally requested membership.
The outcome of this summit could shape the future trajectory of BRICS and its role in shaping the global economic landscape.
Earlier Daryo reported that Russian President Vladimir Putin highlighted the importance of the group in addressing the desires of the global majority. His comments emphasized the fundamental values of equality, partnership, and mutual respect that guide the strategic orientation of the association.
Comments (0)