🇧🇷🇷🇺🇮🇳🇨🇳🇿🇦 The recently-concluded BRICS Summit in Johannesburg, South Africa, was not only a success for the bloc but also historic in how it captured the times we live in today.
🔹 The inclusion of oil-rich nations such as the Kingdom of Saudi Arabia, the United Arab Emirates (UAE), and Iran introduces an expansion of the BRICS footprint in the Middle East as well as its influence for the reform of the financial architecture in addition to population, region, and land mass.
🔹 The Inclusion of Argentina, Ethiopia, and Egypt (Egypt is already a member of the New Development Bank, NDB) further reaffirms the bloc’s growing influence for the reform and development agenda it adopted in 2009.
🔹 More than 20 countries have applied, and over 40 are interested in joining the bloc. This is a significant development because it demonstrates the strength of the BRICS argument for a fairer and more equitable global governance system that represents all, with rules that apply equally to all, especially in global financial and economic governance.
The bloc was dismissed by many in the beginning, with some arguing that it does not hold sufficient power to change anything, let alone contend with the global hegemons. But BRICS is not about challenging anyone.
It is about fostering cooperation and collaboration to find solutions for global challenges and achieve a shared future in which development is enhanced and accessible to all who seek it, Mikatekiso Kubayi writes.
https://valdaiclub.com/a/highlights/5th-brics-summit-and-affirmation-of-the-brics/
#ModernDiplomacy #BRICS #BRICS2023 #BRICSSummit
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🔹 The inclusion of oil-rich nations such as the Kingdom of Saudi Arabia, the United Arab Emirates (UAE), and Iran introduces an expansion of the BRICS footprint in the Middle East as well as its influence for the reform of the financial architecture in addition to population, region, and land mass.
🔹 The Inclusion of Argentina, Ethiopia, and Egypt (Egypt is already a member of the New Development Bank, NDB) further reaffirms the bloc’s growing influence for the reform and development agenda it adopted in 2009.
🔹 More than 20 countries have applied, and over 40 are interested in joining the bloc. This is a significant development because it demonstrates the strength of the BRICS argument for a fairer and more equitable global governance system that represents all, with rules that apply equally to all, especially in global financial and economic governance.
The bloc was dismissed by many in the beginning, with some arguing that it does not hold sufficient power to change anything, let alone contend with the global hegemons. But BRICS is not about challenging anyone.
It is about fostering cooperation and collaboration to find solutions for global challenges and achieve a shared future in which development is enhanced and accessible to all who seek it, Mikatekiso Kubayi writes.
https://valdaiclub.com/a/highlights/5th-brics-summit-and-affirmation-of-the-brics/
#ModernDiplomacy #BRICS #BRICS2023 #BRICSSummit
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🇧🇷🇷🇺🇮🇳🇨🇳🇿🇦 The XV BRICS Summit in Johannesburg held in August of this year sparked a wide range of expectations regarding its growing weight in the international system.
The Summit’s agenda foresaw two prominent issues to address.
🔹 On one hand, particularly due to movements in favour of using national currencies in trade and financial exchanges among group members and other nations of the Global South, the creation of a common currency to replace the U. S. dollar as the dominant currency appeared as key issues to be addressed.
🔹 On the other hand, the expansion of the bloc to a broader platform, taking into account the numerous requests for entry from countries in the Global South.
The geographical balance of the new additions to BRICS clearly illustrates this intention. However, just like the original group and the currently expanded BRICS+, they present heterogeneities and asymmetries that will likely pose challenges in the future for consensus-building, Andrés Serbin writes.
https://valdaiclub.com/a/highlights/brics-political-and-geopolitical-challenges-a-view/
#EconomicStatecraft #BRICS #BRICS2023 #GlobalSouth #LatinAmerica #Argentina
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The Summit’s agenda foresaw two prominent issues to address.
🔹 On one hand, particularly due to movements in favour of using national currencies in trade and financial exchanges among group members and other nations of the Global South, the creation of a common currency to replace the U. S. dollar as the dominant currency appeared as key issues to be addressed.
🔹 On the other hand, the expansion of the bloc to a broader platform, taking into account the numerous requests for entry from countries in the Global South.
The geographical balance of the new additions to BRICS clearly illustrates this intention. However, just like the original group and the currently expanded BRICS+, they present heterogeneities and asymmetries that will likely pose challenges in the future for consensus-building, Andrés Serbin writes.
https://valdaiclub.com/a/highlights/brics-political-and-geopolitical-challenges-a-view/
#EconomicStatecraft #BRICS #BRICS2023 #GlobalSouth #LatinAmerica #Argentina
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Valdai Club
BRICS Political and Geopolitical Challenges: A View from the South
It is necessary to take into account Argentina's persistent interest in pursuing a relationship with the BRICS, which has been going through governments of different political persuasions since 2014. It also has a series of questions that will hopefully reveal…
🗺️ BRICS no longer exists: the time of BRICS+ has come.
From 2024 onwards, BRICS+ will account for 44.4% of the world population and for 37.3% of the world’s GDP, with its overall natural endowment capable of leading, as anticipated, to a world-challenging super-OPEC:
📍Home to 79% of the world’s aluminium output
📍77% of palladium production
📍75% of the world’s manganese
📍50% of its graphite
📍Approximately 50% of the world’s gas reserves
📍44.3% of the world’s oil reserves and 41% of oil production
📍More than 50% of global food production
📍38.8% of total global industrial production
📍Over 30% of the world’s nickel reserves
📍Four-fifths of all rare earth reserves
📍One-fifth of global lithium production
📍One-tenth of the world’s copper
Common energy considerations and long-term geo-economic goals (de-dollarisation) are the main driving reasons for the BRICS’ existence and its first enlargement, but (much) more is needed if the aspiring G7 rival hopes to win the battle for the de-Westernisation of the world.
To make this informal forum into a structured reality, one capable of withstanding bumps and games, a radical rethinking of its purposes and its current skeleton is needed, writes Emanuel Pietrobon.
https://valdaiclub.com/a/highlights/the-case-for-a-brics-academy/
#EconomicStatecraft #BRICS #BRICS2023
🗣 🗣 🗣
From 2024 onwards, BRICS+ will account for 44.4% of the world population and for 37.3% of the world’s GDP, with its overall natural endowment capable of leading, as anticipated, to a world-challenging super-OPEC:
📍Home to 79% of the world’s aluminium output
📍77% of palladium production
📍75% of the world’s manganese
📍50% of its graphite
📍Approximately 50% of the world’s gas reserves
📍44.3% of the world’s oil reserves and 41% of oil production
📍More than 50% of global food production
📍38.8% of total global industrial production
📍Over 30% of the world’s nickel reserves
📍Four-fifths of all rare earth reserves
📍One-fifth of global lithium production
📍One-tenth of the world’s copper
Common energy considerations and long-term geo-economic goals (de-dollarisation) are the main driving reasons for the BRICS’ existence and its first enlargement, but (much) more is needed if the aspiring G7 rival hopes to win the battle for the de-Westernisation of the world.
To make this informal forum into a structured reality, one capable of withstanding bumps and games, a radical rethinking of its purposes and its current skeleton is needed, writes Emanuel Pietrobon.
https://valdaiclub.com/a/highlights/the-case-for-a-brics-academy/
#EconomicStatecraft #BRICS #BRICS2023
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Valdai Club
The Case for a BRICS+ Academy
BRICS no longer exists: the time of BRICS+ has come. But to make this informal forum into a structured reality, one capable of withstanding bumps and games, a radical rethinking of its purposes and its current skeleton is needed, writes Emanuel Pietrobon.