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BRICS

Can BRICS Lead A Wave Of Assertion From The Global South?

August 22, 2023 Marco Fernandes, People's Dispatch. , , ,
In recent days, a series of articles in the mainstream Western media have clearly demonstrated the concern of Western powers about the possible growth of the BRICS bloc, which over 20 more countries are interested in joining. Reuters, citing anonymous sources in the Brazilian Foreign Ministry, said that Brasilia would oppose the expansion and that Indian Prime Minister Narendra Modi would not attend the summit. A couple of days after the Reuters article, Brazilian President Lula da Silva was emphatic in reaffirming his position in favor of expansion, and sources denied rumors that Modi would skip the meeting.

Dilemmas Of Humanity Conference Calls For Pan-African, Working Class Power

August 20, 2023 Tanupriya Singh, People's Dispatch. , , , , , , , ,
The world’s attention will be on the city of Johannesburg next week as Brazil, Russia, India, China, and South Africa will convene the 15th annual BRICS Summit (August 22-24). Organized under the banner of “BRICS and Africa: Partnership for Mutually Accelerated Growth, Sustainable Development, and Inclusive Multilateralism,” this year’s conference could potentially usher in a new era of cooperation among the global South. Over 40 countries have expressed their interest in joining BRICS, including 23 countries that have officially applied for membership. Meanwhile, leaders from 71 countries across the Global South have been invited to participate in the upcoming conference’s dialogues.

The BRICS Have Changed The Balance Of Forces

August 18, 2023 Vijay Prashad, Tricontinental: Institute for Social Research. , , ,
In 2003, high officials from Brazil, India, and South Africa met in Mexico to discuss their mutual interests in the trade of pharmaceutical drugs. India was and is one of the world’s largest producers of various drugs, including those used to treat HIV-AIDS; Brazil and South Africa were both in need of affordable drugs for patients infected with HIV as well as a host of other treatable ailments. But these three countries were barred from easily trading with each other because of strict intellectual property laws established by the World Trade Organisation. Just a few months prior to their meeting, the three countries formed a grouping, known as IBSA.

Rumors Over BRICS Summit Point To West’s Paranoia

August 15, 2023 M. K. Bhadrakumar, Consortium News. , , , , ,
Reuters carried a speculative report earlier this month (reversed the next day) that Indian Prime Minister Narendra Modi might not attend the BRICS summit in Johannesburg in person and furthermore that India disfavoured an expansion of the grouping. Reuters’ long history of cold war skulduggery notwithstanding, the gullible Indian media fell for the rumour mongering.  It created some confusion, but only momentarily. South Africa is conscious that, with the state of play in its bilateral ties with the U.S. being what it is, President Cyril Rampaphosa’s excellent personal relations with Russian President Vladimir Putin, BRICS’ sojourn on the ‘de-dollarisation’ pathway and its expansion plans, there are high expectations of Modi’s constructive role.

Second Russia-Africa Summit Ends With Commitments Towards Cooperation

August 1, 2023 Tanupriya Singh, People's Dispatch. , , , , , , , ,
The second Russia-Africa Summit For Peace, Security, and Development concluded in the Russian city of St. Petersburg on July 28. The two-day meet was attended by official delegations from 49 African countries and included 17 heads of state. The summit yielded various agreements and a joint declaration for cooperation on issues including security, trade, energy, and climate change. “All our states confirmed their commitment to the formation of a fair and democratic multipolar world order based on the universally recognized principles of international law and the UN Charter,” Russian President Vladimir Putin said in a press statement after the conclusion of the summit.

Lula And Xi Jinping Pave The Way For Trade De-Dollarization

July 24, 2023 Mauricio Becerra Rebolledo, Orinoco Tribune. , , , , , ,
In September 2006, at the UN General Assembly, the foreign ministers of Brazil, China, Russia and India began to outline what would become a major trade and monetary support agreement. In 2010, during a meeting of the presidents of these countries in Brasilia and a year later in China, what is now known as the BRICS was ratified and began to take shape, with South Africa joining the group. Initially the BRICS countries showed their willingness to engage in closer dialogue with each other, but over the years the agenda began to include broader international cooperation and, above all, economic and financial partnerships in strategic sectors such as energy, agriculture, and scientific and technological development.

The Inevitable De-dollarization

July 17, 2023 By Sergio Rodríguez Gelfenstein, Orinoco Tribune. , , ,
Last week, we embarked on a journey along the de-dollarization process that was characterized as inevitable. Today we will continue the analysis, trying to reach some conclusions while considering that it is still unclear which currency will be the alternative to the US dollar as the main exchange currency. Several options are being considered. One of the options will come from the decision taken by the BRICS (Brazil, Russia, India, China and South Africa) at their summit meeting to be held in South Africa in August. The governor of the South African Reserve Bank, Lesetja Kganyago, said that any discussion aimed at establishing a common currency will inevitably lead to another debate around the creation and location of a central bank.

US Woos India’s Far-Right PM Modi To Help Wage New Cold War On China

June 24, 2023 Ben Norton, Geopolitical Economy. , , , ,
India’s far-right Prime Minister Narendra Modi took a historic trip to the United States this June. President Joe Biden rolled out the proverbial red carpet for Modi, touting a “new era” to “strengthen our partnership for decades to come”, as the US seeks to recruit India for its new cold war on China. The two leaders released a joint statement implicitly criticizing China and Russia. Reuters made it clear that “Washington wants Delhi to be a strategic counterweight to China”, and that the two leaders signed “deals on defense and commerce aimed at countering China’s global influence”.

Ukraine Stays With The West But Russia Is Winning

June 22, 2023 Margaret Kimberley, Black Agenda Report. , , , , ,
The war in Ukraine grinds on and the Ukrainian army is being destroyed by Russia with great loss of life. One would think that Ukraine would be grateful for any and all peace efforts, but it is being used as a proxy by the United States and its NATO allies, the collective west. The seeds of this catastrophe began long before Russia’s special military operation. The European Union and NATO nations brought anti-Russian right-wing forces to power in 2014 in a coup against the elected Ukrainian president. If not for them there would be no war at all. Their degree of culpability became clear recently when a delegation of African leaders traveled to Ukraine and Russia as part of a peacemaking initiative.

Emergence Of A New Non-Alignment

June 17, 2023 Vijay Prishad, Tricontinental: Institute for Social Research. , , , , ,
A new mood of defiance in the Global South has generated bewilderment in the capitals of the Triad (the United States, Europe, and Japan), where officials are struggling to answer why governments in the Global South have not accepted the Western view of the conflict in Ukraine or universally supported the North Atlantic Treaty Organisation (NATO) in its efforts to ‘weaken Russia’. Governments that had long been pliant to the Triad’s wishes, such as the administrations of Narendra Modi in India and Recep Tayyip Erdoğan in Türkiye (despite the toxicity of their own regimes), are no longer as reliable.

BRICS Bloc; Adding Members, Planning New Currency To Challenge US Dollar

June 6, 2023 Ben Norton, Geopolitical Economy. , , , , , ,
The BRICS bloc of Brazil, Russia, India, China, and South Africa is expanding, as its members grow in economic and political influence. Together, the five BRICS members represent more than 40% of the global population, and their share of the world economy (when measured in purchasing power parity) is larger than that of the G7. The foreign ministers of the BRICS states met in South Africa on June 1 and 2. There, they discussed a series of issues, including plans to create a new global reserve currency to challenge the dominance of the US dollar. Also present at the meeting in South Africa was a group of top diplomats from countries described as “friends of BRICS”, including Egypt, Iran, Kazakhstan, Saudi Arabia, and the United Arab Emirates.

De-Dollarisation Clashes With India-China Border Dispute

May 27, 2023 Saheli Chowdhury, Orinoco Tribune. , , , , , ,
The global de-dollarisation trend is not totally a bed of roses, or at least there are thorns in the roses that have to be taken into account. While de-dollarisation seems to be an irreversible trend on the global scale, at regional levels it is running into bilateral or regional political tensions. In this regard, one of the most prominent cases is in Asia: the India-China border dispute. In April 2023, the Chinese national currency, yuan, ranked third in international trade settlements made through the US-dominated SWIFT system. According to data from the system itself, yuan’s share in April was “record high,” although that share was only 4.72%, after euro’s 6.54%.

Whither Multipolarity In A Changing World Order

April 24, 2023 Roger D. Harris, CounterPunch.org. , , , , ,
The Italian political theorist Antonio Gramsci presciently observed: “The crisis consists precisely in the fact that the old is dying and the new cannot be born; in this interregnum a great variety of morbid symptoms appear.” This period that we live in is arguably shaped by three elements: two moribund (the implosion of the USSR and the centrality of US imperialism) and one vital (the promise of multipolarity). The camp associated with the US is consolidating at the same time that a countervailing multipolar tendency is emerging. Major changes are reshaping the world order, I contend, but the outcome is not yet clear.

Can BRICS Triumph Over The IMF And World Bank?

April 17, 2023 Ramzy Baroud, Mintpress News. , , ,
Who would have expected that the BRICS nations could rise as the potential rival of the G7 countries, the World Bank and the IMF combined? But that once seemingly distant possibility now has real prospects which could change the political equilibrium of world politics. BRICS is an acronym for Brazil, Russia, India, China and South Africa. It was supposedly coined by the Chief Economist of Goldman Sachs in 2001 as a reference to the world’s emerging economies. It was then known as BRIC, with the ‘S’ added later when South Africa formally joined the group in 2010. BRIC’s first official summit took place in 2009. T

Brics Bank De-Dollarizing, New Chief Dilma Rousseff Says

April 16, 2023 Ben Norton, Geopolitical Economy. , , , , ,
The new president of the BRICS Bank has revealed that the Global South-led bloc is advancing toward de-dollarization, gradually moving away from use of the US dollar. The New Development Bank plans to give nearly one-third (30%) of its loans in the local currencies of the financial institution’s members. Dilma Rousseff, the left-wing former president of Brazil, took over the leadership of the Shanghai, China-based New Development Bank (NDB) this March. The NDB was created in 2014, by the BRICS bloc of Brazil, Russia, India, China, and South Africa, as a Global South-oriented alternative to the US-dominated World Bank, which is infamous for imposing neoliberal economic reforms on impoverished countries, which hinder their development.
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