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BEIJING,/JOHANNESBURG Aug 24 (Reuters) - BRICS nations should strengthen cooperation on cross-border payment, a Chinese foreign ministry official said on Thursday, the final day of a three-day BRICS summit in South Africa. They should also study local currency cooperation payment tools and platforms, and promote local currency settlement, said Li Kexin, Director-General of the Department of International Economic Affairs of the Foreign Ministry of China. The leaders of BRICS - Brazil, Russia, India, China and South Africa - agreed at the summit in Johannesburg to encourage more local currency usage in trade and financial transactions, as they seek to shift away from dependence on the U.S. dollar. "So it's important to have a more sophisticated payment system... Many of Russia's top banks were cut off from the SWIFT messaging system last year under sweeping Western sanctions following Moscow's invasion of Ukraine.
Persons: Li Kexin, Sergei Lavrov, Vladimir Putin, Li, SWIFT, Rachel Savage, Marc Jones, William Maclean, Emelia Organizations: Department of International Economic Affairs, Foreign Ministry of China, U.S ., Beijing, Thomson Locations: BEIJING, JOHANNESBURG, South Africa, BRICS, Brazil, Russia, India, China, Johannesburg, Russians, Ukraine, London
The international drive to end the dollar's dominance has suffered a blow, with the greenback's role in global payments hitting a record high. SWIFT data showed as much as 46% of foreign-exchange payments in July via the messaging system involved the dollar. The jump in dollar usage comes at a time when countries including China and Russia are trying to move away from the greenback. AdvertisementAdvertisementThe jump in dollar-based SWIFT payments raises challenges to the movement to end the greenback's supermacy of global payments and fund transfers. Some market experts however have ridiculed the so-called dedollarization efforts, with one calling the proposed BRICS currency plan "embarrassing."
Persons: SWIFT Organizations: Service, Society, Worldwide Interbank Financial Telecommunication, Bloomberg Locations: China, Russia, Wall, Silicon, India, Ukraine
BRICS invites six nations to join developing world bloc
  + stars: | 2023-08-24 | by ( ) www.reuters.com   time to read: +2 min
A person walks past the Sandton Convention Centre, which will host the upcoming BRICS Summit, in Johannesburg, South Africa August 19, 2023. REUTERS/James Oatway/File Photo Acquire Licensing RightsJOHANNESBURG, Aug 24 (Reuters) - Leaders of the BRICS group of developing nations have invited Saudi Arabia, Iran, Ethiopia, Egypt, Argentina and the United Arab Emirates to join, in a move aimed at growing the clout of a bloc that has pledged to champion the "Global South". South African President Cyril Ramaphosa, who is hosting a summit of BRICS leaders, announced on Thursday that the new candidates would be admitted as members on Jan. 1, 2024. And while all BRICS members publicly expressed support for growing the bloc, there were divisions among the leaders over how much and how quickly. More than 40 countries have expressed interest in joining BRICS, say South African officials, and 22 have formally asked to be admitted.
Persons: James Oatway, Cyril Ramaphosa, BRICS, Carien du Plessis, Joe Bavier, Toby Chopra, Emelia Organizations: Sandton, REUTERS, Rights, United, West ., BRICS, Thomson Locations: Johannesburg, South Africa, Rights JOHANNESBURG, Saudi Arabia, Iran, Ethiopia, Egypt, Argentina, United Arab Emirates, Brazil, Russia, India, China, Beijing, Moscow, West
CNN —Oil powers Saudi Arabia and the United Arab Emirates have been invited to become members of the BRICS group of developing nations in its first expansion in over a decade. Total bilateral trade between Saudi Arabia and BRICS nations exceeded $160 billion in 2022, the Saudi foreign minister said. It also means Russia and Saudi Arabia — both members of OPEC+, a group of major oil producers — will join each other in a new economic bloc. The BRICS countries have also been talking about a common currency, an idea analysts have described as unworkable and “unlikely” in the near future. Existing BRICS members have “had enough difficulty trying to agree just between the five of them,” he added.
Persons: Cyril Ramaphosa, ” Ramaphosa, Vladimir Putin, ” Putin, Xi Jinping, ” Jinping, Prince Faisal bin Farhan, Narendra Modi, Saudi Arabia —, , Putin, Goldman Sachs, Jim O’Neill, ” O’Neill, , , I’m, ” BRICS, Mohamed bin Zayed al Nahyan, Abdel Fattah el, Sisi, — Manveena Suri, Mostafa Salem, Lizzy Yee, Mengchen Zhang, Nadeen Ebrahim Organizations: CNN, Oil, United Arab, Saudi Foreign, Indian, OPEC, West, Western, Bloomberg, New Development Bank, United Arab Emirates, BRICS Locations: Saudi Arabia, United Arab Emirates, Iran, Egypt, Ethiopia, Argentina, South, Johannesburg, Brazil, Russia, India, China, South Africa, Russian, BRICS, Saudi, United States, UAE
BRICS - whose acronym was originally coined by an economist at Goldman Sachs, currently comprises Brazil, Russia, India, China and South Africa. Ethiopian Prime Minister Abiy Ahmed called the BRICS leaders' decision to invite Ethiopia to join "a great moment". "It shows the determination of BRICS countries for unity and cooperation with the broader developing countries." More than 40 countries have expressed interest in joining BRICS, say South African officials, and 22 have formally asked to be admitted. "The expansion and modernization of BRICS is a message that all institutions in the world need to mould themselves according to changing times," he said.
Persons: Cyril Ramaphosa, Narendra Modi, Sergei Lavrov, Alet Pretorius, Goldman Sachs, BRICS, Luiz Inacio Lula da Silva, Ramaphosa, Lula, globalisation's, Mohammed bin Zayed, Abiy Ahmed, Antonio Guterres, Xi Jinping, Bhargav Acharya, Sergio Goncalves, Ethan Wang, Vladimir Soldatkin, Joe Bavier, Toby Chopra, Emelia Organizations: South, India's, Russia's, REUTERS, United Arab, United, United Arab Emirates, New Development Bank, Ethiopian, United Nations, . Security, International Monetary Fund, World Bank, BRICS, Indian, Thomson Locations: Johannesburg, South Africa, Saudi Arabia, Iran, Ethiopia, Egypt, Argentina, UAE, JOHANNESBURG, United Arab Emirates, Brazil, Russia, India, China, Ukraine, United States, Beijing, Moscow, United Arab, Lisbon
BRICS set to invite Saudi Arabia to join - Bloomberg News
  + stars: | 2023-08-24 | by ( ) www.reuters.com   time to read: 1 min
Delegates interact next to the logos of the BRICS summit during the 2023 BRICS Summit at the Sandton Convention Centre in Johannesburg, South Africa on August 23, 2023. GIANLUIGI GUERCIA/Pool via REUTERS Acquire Licensing RightsAug 24 (Reuters) - Major emerging market nations are preparing to invite Saudi Arabia to join BRICS, Bloomberg News reported on Thursday, citing people familiar with the talks. Leaders from Brazil, Russia, India, China and South Africa (BRICS) have agreed to expand their group, which would be the first expansion since 2010, the report said. Egypt is another nation being invited to join, along with others in the Middle East, the report added. Reporting by Akanksha Khushi in Bengaluru Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.
Persons: GIANLUIGI, Akanksha, Mark Potter Organizations: REUTERS Acquire, BRICS, Bloomberg, Thomson Locations: Sandton, Johannesburg, South Africa, Saudi Arabia, Brazil, Russia, India, China, Egypt, Bengaluru
A person walks past the Sandton Convention Centre, which will host the upcoming BRICS Summit, in Johannesburg, South Africa August 19, 2023. REUTERS/James Oatway/File Photo Acquire Licensing RightsJOHANNESBURG, Aug 24 (Reuters) - The BRICS group of nations has decided to invite six countries - Argentina, Egypt, Iran, Ethiopia, Saudi Arabia and the United Arab Emirates - to become new members of the bloc, South African President Cyril Ramaphosa said on Thursday. The debate over expanding the BRICS bloc, comprising Brazil, Russia, India, China and South Africa, has topped the agenda at a three-day summit in Johannesburg ending on Thursday. While all BRICS members have publicly expressed support for growing the bloc, there were divisions among the leaders over how much and how quickly. Reporting by Bhargav Acharya, Carien du Plessis and Anait Miridzhanian Editing by Alexander WinningOur Standards: The Thomson Reuters Trust Principles.
Persons: James Oatway, Cyril Ramaphosa, Bhargav Acharya, Carien du Plessis, Anait, Alexander Winning Organizations: Sandton, REUTERS, Rights, United Arab, South, Thomson Locations: Johannesburg, South Africa, Rights JOHANNESBURG, Argentina, Egypt, Iran, Ethiopia, Saudi Arabia, United Arab Emirates, Brazil, Russia, India, China
Argentina's President Alberto Fernandez speaks during a news conference at the Itamaraty Palace in Brasilia, Brazil, June 26, 2023. REUTERS/Adriano Machado/File Photo Acquire Licensing RightsAug 24 (Reuters) - A "new scenario" opens for Argentina with the invitation for the South American country to join the BRICS group of developing nations, President Alberto Fernandez said on Thursday. Argentina wanted to join BRICS - a group currently made up of Brazil, Russia, India, China and South Africa - because of the bloc's geopolitical and financial importance during a difficult global context, Fernandez said in a speech. Argentina was invited to join BRICS along with Saudi Arabia, Iran, Ethiopia, Egypt and the United Arab Emirates, as the group convenes in South Africa this week. By joining BRICS, Argentina will act as an important interlocutor and potential broker for consensus with other nations, Fernandez added.
Persons: Alberto Fernandez, Adriano Machado, Fernandez, Gabriel Araujo, Kylie Madry, Christina Fincher, Chizu Organizations: REUTERS, South, BRICS, United Arab, Thomson Locations: Brasilia, Brazil, Argentina, Russia, India, China, South Africa, Saudi Arabia, Iran, Ethiopia, Egypt, United Arab Emirates, BRICS
Podcast: What now for Russia after Prigozhin?
  + stars: | 2023-08-24 | by ( ) www.reuters.com   time to read: +1 min
The head of the Russian mercenary group Wagner, Yevgeny Prigozhin, is believed to have been killed in a plane crash. Donald Trump says he will turn himself in to a jail in Georgia to face charges of election interference. Plus, celebrations across India as its moon mission gets underway and North Korea fails in a second bid to launch a spy satellite. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also visit megaphone.fm/adchoices to opt out of targeted advertising.
Persons: Wagner, Yevgeny Prigozhin, Donald Trump, Giuliani Organizations: Apple, Google, Reuters, Thomson, Saudi Locations: Russian, Georgia, India, North Korea, BRICS, Iran
President of China Xi Jinping attends the plenary session during the 2023 BRICS Summit at the Sandton Convention Centre in Johannesburg, South Africa on August 23, 2023. GIANLUIGI GUERCIA/Pool via REUTERS Acquire Licensing RightsBEIJING/JOHANNESBURG, Aug 24 (Reuters) - China's leader Xi Jinping told African leaders at a meeting on the sidelines of the BRICS summit on Thursday that China would launch initiatives to support Africa's industrialisation and agricultural modernisation. "China will better harness its resources for cooperation with Africa and initiatives of businesses to support Africa in growing its manufacturing sector and realizing industrialisation and economic diversification," Xi said without providing details. Xi's pledge was made as the BRICS Summit wrapped up, during a meeting with leaders and ministers from the African Union and 11 African countries including Libya, Nigeria, Senegal and Zambia. "In 2009, it issued grants and loans worth $88 billion to support infrastructure projects in Africa.
Persons: China Xi Jinping, GIANLUIGI, Xi Jinping, Xi, Xi's, Wu Peng, Brad Parks, William, William & Mary, Parks, David Monyae, Michael Martina, Carien du Plessis, Rachel Savage, Jonathan Oatis Organizations: REUTERS Acquire, Rights, African Union, U.S, William &, University of Johannesburg's Centre, Thomson Locations: China, Sandton, Johannesburg, South Africa, Rights BEIJING, JOHANNESBURG, Africa, Libya, Nigeria, Senegal, Zambia, Brazil, Russia, India, Egypt, Ethiopia, China Africa, Kenya
People in Mumbai celebrate the successful lunar landing of Chandrayaan-3 on the south pole of the Moon on August 23. Chandrayaan-3’s journeyAs Chandrayaan-3 approached the moon, its cameras captured photographs, including one taken on August 20 that India’s space agency shared Tuesday. India’s lunar lander consists of three parts: a lander, rover and propulsion module, which provided the spacecraft all the thrust required to traverse the 384,400-kilometer (238,855-mile) void between the moon and Earth. The lander, called Vikram, completed the precision maneuvers required to make a soft touchdown on the lunar surface after it was ejected from the propulsion module. A view of the moon as viewed by the Chandrayaan-3 lander during Lunar Orbit Insertion on August 5, 2023.
Persons: Vikram, India’s, , Somanath, Abhishek Chinnappa, , Ashish Kumar Verma, Charvi Katare, Shah Rukh Khan, Sachin Tendulkar, “ Humble, Ursula von der Leyen, Narendra Modi, Russia’s Luna, Indranil Mukherjee, Modi, Jaishankar, Sergey Lavrov, ” Lavrov, Somnath, Bill Nelson Organizations: New, New Delhi CNN, Wednesday, Indian Space Research Organization, ISRO, Indian Space Research Organisation, of Scientific, Industrial Research, Twitter, European Union, Russia –, Soviet Union, Workers, Getty Images, ” India’s, NASA Locations: New Delhi, India, Sikh, Mumbai, , Russia, United States, China, Washington, assertiveness, Ukraine, Delhi, Moscow, South Africa, Johannesburg
A cameraman films a wreckage of the private jet linked to Wagner mercenary chief Yevgeny Prigozhin near the crash site in the Tver region, Russia. Neither referenced the plane crash in which 10 people were said to have been killed. A Reuters reporter at the crash site on Thursday morning saw men carrying away black body bags on stretchers. Unnamed sources told Russian media they believed the plane had been shot down by one or more surface-to-air missiles. SECOND PLANE LINKED TO PRIGOZHINFlightradar24 online tracker showed that the plane had dropped off the radar at 6:11 p.m. (1511 GMT).
Persons: Wagner, Yevgeny Prigozhin, Marina Lystseva, Prigozhin, Vladimir Putin, Sergei Lavrov, Anatoly, Putin, WAGNER, Dmitry Utkin, Abbas Gallyamov, Gallyamov, Bill Browder, Browder, Joe Biden, I’m, Biden, Sergei Shoigu, Valery Gerasimov, Andrew Osborn, Angus MacSwan Organizations: Marina, Defence Ministry, Embraer, SA, Reuters, Telegram, Kremlin, Twitter, General Staff, Thomson Locations: Tver, Russia, MOSCOW, Ukraine, South Africa, Moscow, St, Petersburg, Kuzhenkino, Russian, St . Petersburg, Grey, Africa, Belarus
A woman visits a makeshift memorial near former PMC Wagner Centre, associated with the founder of the Wagner Group, Yevgeny Prigozhin, in Saint Petersburg, Russia August 24, 2023. Putin, who has spoken in the past of his hatred of traitors, described it as a "stab in the back". Prigozhin "assumed that Putin would not want to risk all this", Gallyamov said. 'GAME OF THRONES'But the death of Prigozhin, if confirmed, is not without cost to Putin. If Putin was responsible for Prigozhin's death, he said, it demonstrated he was willing to engage in brutal repression of any kind of dissent.
Persons: Yevgeny Prigozhin, Anastasia Barashkova, Putin, Vladimir Putin, Dmitry Utkin, Prigozhin, Tatiana Stanovaya, Wagner, Abbas Gallyamov, Gallyamov, Andrew Borene, Samuel Ramani, RUSI, Ramani, Sergei Surovikin, Surovikin, Mark Trevelyan, Gareth Jones, Andrew Heavens Organizations: PMC Wagner, Wagner Group, REUTERS, Kremlin, Putin, Central African, Analysts, Thomson Locations: Saint Petersburg, Russia, Kremlin, Ukraine, Africa, Moscow, Belarus, Mali, Central African Republic, France, United States, U.S
CNN —Indian Prime Minister Narendra Modi and Chinese leader Xi Jinping agreed to “intensity efforts” to deescalate tensions at their contested border, in a rare face-to-face meeting since a deadly clash strained relations more than three years ago. Face-to-face meetings between the leaders of India and China, the world’s two most populous nations, are rare. They had a brief conversation weeks later on the sidelines of the Group of 20 (G20) leaders’ meeting in Bali, Indonesia. India’s decision to host this year’s SCO virtually meant that Modi and Xi did not have an opportunity for a face-to-face meeting. Xi is also expected to attend the G20 leaders’ summit in New Delhi next month.
Persons: Narendra Modi, Xi Jinping, , Modi, Xi, Vinay Kwatra, ” Kwatra, , assertiveness Organizations: CNN, Indian, LAC, China’s Ministry of Foreign Affairs, India’s, External Affairs, Shanghai Cooperation Organization, Huawei Locations: Johannesburg, India, China, New Delhi, Beijing, Western, Uzbekistan, Bali , Indonesia, Aksai Chin, Ladakh, Tawang, Arunachal Pradesh, United States, Japan, US, Australia, Jammu, Kashmir, Pakistan
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/world/china-russia-deliver-broadsides-against-the-west-at-brics-summit-f8dd0efd
Persons: Dow Jones Locations: russia
Leslie Maasdorp, Vice President and chief financial officer (CFO) of New Development Bank (NDB), speaks during an interview with Reuters at the bank's headquarters in Shanghai, China July 10, 2023. REUTERS/Aly Song/File Photo Acquire Licensing RightsJOHANNESBURG, Aug 23 (Reuters) - The New Development Bank of the BRICS group of nations will not be announcing new members at the BRICS Summit in South Africa this week, its Chief Financial Officer Leslie Maasdorp told Reuters on Wednesday. The bank, which was set up in 2015 to give BRICS members Brazil, Russia, India, China and South Africa a greater say in financing infrastructure than in Western-led institutions like the World Bank, is keen to attract new members to boost its capital base after U.S. sanctions on Russia hobbled its lending. "The process of ratifying new countries is happening at the discussion of the (BRICS) leaders, which they are having without us as the bank," Maasdorp told Reuters in an interview on the sidelines of the summit. ($1 = 94.4650 roubles)Reporting by Rachel Savage; Writing by Bhargav Acharya; Editing by Alexander Winning and Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.
Persons: Leslie Maasdorp, Aly, Maasdorp, Rachel Savage, Bhargav Acharya, Alexander Winning, Emelia Organizations: New Development Bank, Reuters, REUTERS, Rights, World Bank, United, United Arab Emirates, U.S ., Thomson Locations: Shanghai, China, Rights JOHANNESBURG, South Africa, Brazil, Russia, India, Western, Egypt, Bangladesh, United Arab, Saudi Arabia, Algeria, Argentina
CNN —Chinese leader Xi Jinping on Tuesday unexpectedly skipped a business forum of the BRICS economic group in South Africa, sending his commerce minister instead to deliver a fiery speech in his name that decried US hegemony. Xi, who arrived in Johannesburg on Monday for the annual BRICS summit of major emerging economies, was scheduled to deliver a speech at its business forum on Tuesday afternoon alongside leaders from India, Brazil and South Africa. Xi was the only BRICS leader who did not attend the business forum. At a regular news briefing Wednesday, Wang Wenbin, another spokesperson for the ministry, sidestepped a question about Xi’s absence at the BRICS business forum. “The (Chinese Communist Party) feels no obligation to provide explanations about why its foreign minister was replaced or its top leader was a no show at the BRICS Business Forum.
Persons: Xi Jinping, Xi, , Wang Wentao, Vladimir Putin, , Bonnie Glaser, Marshall Fund’s, Brian Hart, Cyril Ramaphosa, ” Hart, Wang, Hua Chunying, Wang Wenbin, sidestepped, Xi’s, “ I’ve, Glaser, Qin, Wang Yi, Hart Organizations: CNN, Chinese Commerce, China Power, Center for Strategic, International Studies, South, Ramaphosa, Xinhua, Chinese Foreign Ministry, Communist Party, German Marshall Fund, CSIS Locations: South Africa, Johannesburg, India, Brazil, Beijing, United States, Ukraine, China,
The summit has focused on whether to expand the club and how to be a counterweight to Western powers. The war in Ukraine, the prospect of a major BRICS expansion and heightened tensions between China and the United States have drawn unusual attention to the meeting. For China’s top leader, Xi Jinping, the summit has offered an opportunity to cast himself as a leader of the developing world. In China’s escalating rivalry with the United States, Africa is an emerging battleground for global influence. The result of that outreach has been diplomatic support in international organizations like the United Nations and access to critical minerals needed to power growing industries, like electric vehicles.
Persons: Putin, Xi Jinping Organizations: International Criminal Court, West, United Nations Locations: Johannesburg, South Africa, Ukraine, China, United States, Saudi Arabia, Indonesia, Egypt, Argentina, Russia, Taiwan, Beijing, North America, Europe, Asia, Africa
Xi calls for expansion at BRICS summit
  + stars: | 2023-08-23 | by ( Reuters Editorial | ) www.reuters.com   time to read: 1 min
PoliticsXi calls for expansion at BRICS summitPostedLeaders of the BRICS countries - Brazil, Russia, India, China and South Africa, have been speaking at a summit in Johannesburg. The issue of expanding the bloc of emerging countries has been front and center. David Doyle has more.
Persons: Xi, David Doyle Locations: BRICS, Brazil, Russia, India, China, South Africa, Johannesburg
Delegates walk past the logos of the BRICS summit during the 2023 BRICS Summit at the Sandton Convention Centre in Johannesburg, South Africa on August 23, 2023. WHY DOES LULA WANT A BRICS CURRENCY? A BRICS currency "increases our payment options and reduces our vulnerabilities," he told the summit's opening plenary session. In July, India's foreign minister said, "there is no idea of a BRICS currency". WHAT ARE THE CHALLENGES OF SETTING UP A BRICS CURRENCY?
Persons: GIANLUIGI, Luiz Inacio Lula da Silva, LULA, doesn't, Vladimir Putin, Xi Jinping, Lesetja Kganyago, you've, Kganyago, Herbert Poenisch, Putin, Rachel Savage, Ethan Wang, Marcela Ayres, Gabriel Stargardter, Naomi Rovnick, Libby George, Marc Jones, John Stonestreet Organizations: REUTERS Acquire, Rights, Mercosur, South, Zhejiang University, Federal Reserve, FX, International Monetary Fund, Bank of International, Thomson Locations: Sandton, Johannesburg, South Africa, Rights JOHANNESBURG, Brazil, Russia, India, China, Russian, videolink, African, Ukraine, Beijing, Brasilia, Rio de Janeiro, London
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAnalyst discusses BRICS members' different views about the group's expansionAlessandro Arduino, lecturer Lau China Institute at King's College London, says countries interested in joining the BRICS grouping don't want to be forced to make a choice between global powers.
Persons: Alessandro Arduino, Lau Organizations: Lau China Institute, King's College London Locations: Lau China
Thailand’s former Prime Minister Thaksin Shinawatra has been moved from prison to hospital, just hours after his return to the country from a 15-year exile. Cash-strapped Zimbabwe heads to the polls. Plus, the man known as “General Armageddon” is replaced as head of the Russian air force and a dramatic high wire rescue in Pakistan. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. Further ReadingThailand's billionaire ex-PM Thaksin moved to hospital on first night in jailZimbabweans vote but hopes of ending economic freefall appear dimSouth Africa, China sign power deals during BRICS summitOur Standards: The Thomson Reuters Trust Principles.
Persons: Thaksin Shinawatra, Cash, Thaksin Organizations: Apple, Google, Reuters, Thomson, Reading Locations: Zimbabwe, Pakistan, Africa, China
President Xi Jinping of China, traveling to Africa for the first time in five years, pledged greater cooperation with South Africa to enhance the voice of poor nations. He commended developing countries for “shaking off the yoke of colonialism.”And on Wednesday, he held talks with the leaders of the BRICS, a club of emerging nations, and called for members to “accelerate” its expansion to serve as a counterweight to Western dominance. “The Cold War mentality is still haunting our world, and the geopolitical tension is getting tense,” Mr. Xi said. The grouping, he continued, should “bring more countries into the BRICS family so as to pool our strength, pool our wisdom to make global governance more just and equitable.”On his four-day visit to South Africa this week, Mr. Xi has sought to cast himself as a leader of the developing world. Mr. Xi kicked off his trip with a state visit and was received with an honor guard, a 21-gun salute and roads lined with cheering crowds waving Chinese flags.
Persons: Xi Jinping, Mr, Xi, Locations: China, Africa, South Africa
Dozens of countries have expressed interest in joining BRICS, a group encompassing Brazil, Russia, India, China and South Africa that views itself as a counterweight to the West, and is meeting this week in Johannesburg. Argentina, Egypt, Indonesia and Saudi Arabia are thought to be among those most likely to be admitted. But Prime Minister Narendra Modi of India is said to be concerned about adding nations close to Beijing; India and China have border disputes and tend to consider each other potential adversaries. Here is a look at some of the nations vying to join. Saudi ArabiaThe addition to BRICS of Saudi Arabia, one of the world’s leading oil producers, would add economic clout to the group and bolster its chances of positioning itself as a rival to the U.S.-led financial order.
Persons: Xi Jinping, Narendra Modi Locations: BRICS, Brazil, Russia, India, China, South Africa, Johannesburg, Argentina, Egypt, Indonesia, Saudi Arabia, Iran, Beijing, U.S
China's Xi Jinping is in South Africa this week for the BRICS summit. Addressing the BRICS summit by video link Tuesday, Russian President Vladimir Putin took swipes at the West, and said the summit represented the "global majority." Together, they make up around 40% of the world's population, around $27.7 trillion of the global economy, and are seen to represent the so-called "Global South" of southern hemisphere nations. Taking on the dollarThere are also proposals on the table to create a BRICS currency to challenge the global dominance of the dollar. AdvertisementAdvertisementChina and Russia may have ambitious plans for the BRICS group, but realizing them still appears some distance away.
Persons: China's, Jinping, Putin, Vladimir Putin, Graeme Thompson, China Xi, Cyril Ramaphosa, PHILL MAGAKOE, Xi Jinping, Steve Tsang, Thompson, Xi, Wang Wentao, Luiz Inacio Lula da Silva, Luiz Inácio Lula da Silva Organizations: Service, Eurasia Group, South, Getty Images, US, SOAS China Institute, University of London, CNN, Russia, Anadolu Agency, Getty Locations: South Africa, China, Russia, Wall, Silicon, Johannesburg, Brazil, India, AFP, Western, Iran, Saudi Arabia, Indonesia, Ukraine, Beijing, Pacific, United States
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