Balancing an inflated membership
5 months, 1 week ago

Balancing an inflated membership

China Daily  

Ma Xuejing/CHINA DAILY Successful handling of internal relations requires BRICS to become the center stage for global South-South cooperation, instead of a confrontational leverage against the US-led West At the beginning of 2024, BRICS underwent a historic expansion. As Middle Eastern countries increasingly seek economic reform, political independence and diplomatic diversification in regional and global affairs, joining the BRICS is a step in keeping with their interests and strategic needs. In 2022 alone, China's bilateral trade with the Middle Eastern countries reached $507.15 billion, with an average annual growth rate of nearly 15 percent over the past five years. These are all alluring factors to the Middle Eastern countries, who wish to diversify their oil-intensive economies and blunt the influence of Western sanctions through major trade and energy partnerships with the BRICS nations. By gaining BRICS membership, the Middle Eastern countries hope to increase their presence in global affairs and expand their regional influence.

Global China Trade Russia Global Governance Egypt Iran Brics West Saudi Arabia Countries Middle China Daily Eastern Uae Regional Middle Eastern East Development  trade  east  development  countries  eastern  balancing  brics  middle  membership  china  global  inflated  regional

History of this topic

BRICS: A Counterweight to G7 Rich Nations
2 months, 2 weeks ago

BRICS: A Counterweight to G7 Rich Nations

New Indian Express  

The BRICS Summit in Kazan, Russia, marked a significant milestone in the bloc's history. It saw the resumption of formal bilateral talks between India and China, signifying a thaw in their frosty relations. The summit also welcomed 13 new countries as partners, taking the BRICS influence and size to greater levels. This expansion is expected to challenge the dominance of …

BRICS Summit in Kazan: A Message to the World
Trending News
2 months, 2 weeks ago

BRICS Summit in Kazan: A Message to the World

The Hindu  

BRICS summit in Kazan highlights the group's intent to seek alternatives to the prevailing international governance structures. The summit saw the participation of nine countries and Saudi Arabia, with a focus on strengthening economic bonds and addressing bilateral issues. India, as a non-Western member, played a crucial balancing role by supporting the Declaration on Israel in Gaza and backing the …

Arabs Optimistic About BRICS Rebalancing Global Order
2 months, 2 weeks ago

Arabs Optimistic About BRICS Rebalancing Global Order

China Daily  

Arabs are optimistic about the rebalancing of the global order, with BRICS playing a more active role in safeguarding multilateralism and refining the world system. The bloc's growing momentum and influence, coupled with the increasing global challenges, have prompted Arab states to seek closer policy coordination with BRICS members. BRICS provides a platform for Arab states to have close policy …

Iran's Strategic Gambit in Brics: How to Break Free from Sanctions and Shape Global Dynamics
2 months, 2 weeks ago

Iran's Strategic Gambit in Brics: How to Break Free from Sanctions and Shape Global Dynamics

Firstpost  

Iran's inclusion in Brics highlights its efforts to break free from international isolation. By aligning with these non-Western countries, Iran aims to reduce the impact of US sanctions and boost its influence globally. The group's shift towards a more multipolar world, where US influence faces more challenges, adds complexity to Iran's participation, but it also presents opportunities for cooperation and …

Putin's Summit in Kazan: Balancing Acts and Showing Global Unity
2 months, 3 weeks ago

Putin's Summit in Kazan: Balancing Acts and Showing Global Unity

Associated Press  

Russian President Vladimir Putin will be hosting a summit in Kazan, Russia, to showcase the country's growing global influence. The summit will bring together multiple world leaders, including China's Xi Jinping, India's Narendra Modi, Turkey's Recep Tayyip Erdogan and Iran's Masoud Pezeshkian. The summit is a show of Russia's determination to counterbalance the Western-led world order and demonstrate its economic …

BRICS: A Beacon of Hope for the Global South in a Volatile World
2 months, 3 weeks ago

BRICS: A Beacon of Hope for the Global South in a Volatile World

China Daily  

The BRICS Summit is a gathering of 15 countries in Africa, Asia, and Latin America to discuss the potential admission of new members. The summit is a response to the escalating conflicts and tensions in the world, and BRICS is seen as a beacon of hope for the Global South. The author argues that BRICS is a grouping that upholds …

BRICS: A Beacon of Hope for the Global South in a Volatile World
2 months, 3 weeks ago

BRICS: A Beacon of Hope for the Global South in a Volatile World

China Daily  

The BRICS Summit is a gathering of 15 countries in Africa and Asia who are seeking to join the grouping. BRICS is a non-aligned grouping that believes in human values, respects diversity, and upholds multilateralism. The group is seen as a way for the Global South to unite and work together to preserve their sovereignty and territorial integrity. BRICS offers …

What to Know About the BRICS Group of Countries Rivaling the G-7
2 months, 3 weeks ago

What to Know About the BRICS Group of Countries Rivaling the G-7

Bloomberg  

The BRICS group of emerging-market powers — the acronym stands for Brazil, Russia, India, China and South Africa — has gone from a slogan dreamed up at an investment bank two decades ago to a real-world club that controls a multilateral lender. It almost doubled in size in 2024, pairing several major energy producers with some of the biggest consumers …

Turkey seeks to join the BRICS bloc of emerging economies, a Kremlin official says
4 months, 1 week ago

Turkey seeks to join the BRICS bloc of emerging economies, a Kremlin official says

Associated Press  

MOSCOW — NATO member Turkey has applied for membership in the BRICS bloc of developing economies, a senior Kremlin official said Wednesday, as Russia and China seek to counter the West’s global influence. Yuri Ushakov, President Vladimir Putin’s foreign affairs aide, told reporters that Turkey has submitted an application “for full membership” in the bloc that Russia this year chairs, …

Turkey seeks to join BRICS bloc of emerging economies, Russia says
4 months, 1 week ago

Turkey seeks to join BRICS bloc of emerging economies, Russia says

LA Times  

Turkish President Recep Tayyip Erdogan, pictured in April, has stated several times that his country aspires to become a member of the BRICS alliance, a spokesman said. NATO member Turkey has applied for membership in the BRICS bloc of developing economies, a senior Kremlin official said Wednesday, as Russia and China seek to counter the West’s global influence. Turkish President …

Balancing an inflated membership
5 months, 1 week ago

Balancing an inflated membership

China Daily  

Ma Xuejing/CHINA DAILY Successful handling of internal relations requires BRICS to become the center stage for global South-South cooperation, instead of a confrontational leverage against the US-led West At the beginning of 2024, BRICS underwent a historic expansion. As Middle Eastern countries increasingly seek economic reform, political independence and diplomatic diversification in regional and global affairs, joining the BRICS is …

BRICS ties eyed as multipolar trend emerges
6 months, 3 weeks ago

BRICS ties eyed as multipolar trend emerges

China Daily  

The significant interest of Bolivia and Nicaragua joining the BRICS group highlights the growing economic ties with the group's members, in particular with China, while reducing their dependency on Western economies, say experts. "The involvement of countries like Bolivia and Nicaragua in BRICS has the potential to rebalance economic influences and create a more multipolar global economy," said Gabriel Merino, …

BRICS: 5 countries officially join Group of Emerging Nations
11 months, 1 week ago

BRICS: 5 countries officially join Group of Emerging Nations

Live Mint  

South Africa’s foreign minister said Saudi Arabia and four other countries have accepted the invitation to join the BRICS club of nations that was extended during a summit last year. Minister Naledi Pandor said that Russia, who takes over as chair of the bloc this year from South Africa, has received written interest from 34 countries who want to join. …

BRICS Doubles in Size with Admission of 5 New Members; Putin Hints at Further Expansion
1 year ago

BRICS Doubles in Size with Admission of 5 New Members; Putin Hints at Further Expansion

News 18  

The BRICS bloc of top emerging economies, including India, Russia and China, has announced induction of five full members into it in an attempt to expand its strategic heft against the backdrop of Western dominance in world affairs. As Moscow assumed the presidency of BRICS, Russian President Vladimir Putin on Monday said the grouping has become a 10-nation body now …

Islamabad applies to join BRICS in 2024, says Pakistan's envoy to Russia
1 year, 1 month ago

Islamabad applies to join BRICS in 2024, says Pakistan's envoy to Russia

Firstpost  

The league of developed and developing nations originally consisted of Brazil, Russia, India, China and South Africa and was formed in 2010. At its last summit in South Africa in October the BRICS group decided to invite six more countries to join their alliance. Pakistan has applied to join the BRICS group of nations in 2024, with the expectation of …

Building BRICS for the future
1 year, 3 months ago

Building BRICS for the future

The Hindu  

In August, six new members were inducted into the BRICS grouping, in South Africa. More members could be inducted, which means that BRICS could pose a serious challenge to the dominance of the G7 comprising Canada, France, Germany, Italy, Japan, the U.K., and the U.S. Second, two members of BRICS are China and India, which together contain one-third of the …

The implications of the expansion of BRICS
1 year, 4 months ago

The implications of the expansion of BRICS

The Hindu  

On August 24, the 15th BRICS summit in Johannesburg announced that the five-member grouping had invited six new members — Iran, Saudi Arabia and the United Arab Emirates from West Asia; Egypt and Ethiopia from Africa, and Argentina from Latin America. BRICS challenges this West-led world order: it promotes intra-BRICS economic and political cooperation, builds institutions outside western control, and …

In charts: The math behind Brics expansion
1 year, 4 months ago

In charts: The math behind Brics expansion

Live Mint  

When economist Jim O'Neill came up with the term ‘BRIC’ in 2001, little did he know that the acronym would become the groundwork for an ambitious alliance of the world’s highest-potential large economies. With the inclusion of Saudi Arabia and the United Arab Emirates, the revamped BRICS had around 30% share in India’s total trade in 2022-23. Experts point out …

BRICS expansion: A warning to the US, but not a ‘new Cold War’
1 year, 4 months ago

BRICS expansion: A warning to the US, but not a ‘new Cold War’

Al Jazeera  

BRICS is alluring to aspiring members precisely because it does not require them to commit to an alliance. As economic tensions soar and geoeconomics becomes a battleground, countries of the Global South seem drawn to the BRICS group, which includes and is partially led by China. This new environment presents the nations of the Global South with options about how …

ANALYSIS - Does Brics expansion mean a new global order?
1 year, 4 months ago

ANALYSIS - Does Brics expansion mean a new global order?

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. And if it is expanding, that means that there …

Concrete alliance: The Hindu Editorial on the BRICS grouping and its expansion
1 year, 4 months ago

Concrete alliance: The Hindu Editorial on the BRICS grouping and its expansion

The Hindu  

If there was any doubt about the relevance of the BRICS grouping, which held its 15th Summit in Johannesburg this week, the massive global interest in its outcomes should have put those to rest. Ever since the grouping, set up as a coalition of emerging economies, said last year that it was open to new members, as many as 40 …

BRICS announces induction of 6 nations: What is its significance and will it change world order? EXPLAINED
1 year, 4 months ago

BRICS announces induction of 6 nations: What is its significance and will it change world order? EXPLAINED

India TV News  

The BRICS group, in its Summit in South Africa’s Johannesburg, took a huge leap in the expansion of its reach through the announcement that it has invited six other countries - mostly from the Middle East, to be a part of the bloc of emerging economies. The six nations that have been extended an invitation to join the BRICS include …

Iran, Saudi Arabia, the United Arab Emirates, Argentina, Egypt and Ethiopia to join China and Russia in BRICS bloc
1 year, 4 months ago

Iran, Saudi Arabia, the United Arab Emirates, Argentina, Egypt and Ethiopia to join China and Russia in BRICS bloc

ABC  

Iran and Saudi Arabia were among six countries invited to join the BRICS bloc of developing economies in a move that showed signs of strengthening a China-Russia coalition as tensions with the West spiral higher. Key points: More than 20 countries had formally applied to join BRICS ahead of the this year's summit and more than 20 others had expressed …

Iran, Saudi Arabia, Egypt among 6 nations set to join BRICS economic bloc
1 year, 4 months ago

Iran, Saudi Arabia, Egypt among 6 nations set to join BRICS economic bloc

LA Times  

Iran, Egypt and Saudi Arabia are among six countries set to join Brazil, Russia, India, China and South Africa in the BRICS economic group next year, the bloc announced Thursday, a move that will likely throw more scrutiny on Beijing’s political influence in the Persian Gulf. “Felicitations to the Supreme Leader of Islamic Revolution and great nation of Iran.” South …

Saudi Arabia, UAE and Iran among six countries invited to join BRICS group
1 year, 4 months ago

Saudi Arabia, UAE and Iran among six countries invited to join BRICS group

CNN  

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. Saudi Foreign Minister Prince Faisal bin Farhan said the kingdom was awaiting details from the BRICS group on the nature of the membership, and would take an “appropriate …

‘A wall of BRICS’: The significance of adding six new members to the bloc
1 year, 4 months ago

‘A wall of BRICS’: The significance of adding six new members to the bloc

Al Jazeera  

Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the UAE have been invited to join the grouping of top emerging economies in January 2024. With the inclusion of Saudi Arabia, Iran, UAE and Egypt, “you could argue it’s very Middle East centric”, according to Sanusha Naidu, a senior research fellow at the Institute for Global Dialogue, a South African think tank …

Dollar hegemony prompts BRICS rethink
1 year, 4 months ago

Dollar hegemony prompts BRICS rethink

China Daily  

SHI YU/CHINA DAILY At the ongoing BRICS Summit in Johannesburg, a key topic that has attracted wide attention is the further development of new and complementary reserve currencies and settlement mechanisms. At the end of March, Alexander Babakov, deputy chairman of the Duma, the lower house of the Russian parliament, said the BRICS countries were working on creating a new …

Dollar hegemony prompts BRICS rethink
1 year, 4 months ago

Dollar hegemony prompts BRICS rethink

China Daily  

SHI YU/CHINA DAILY At the ongoing BRICS Summit in Johannesburg, a key topic that has attracted wide attention is the further development of new and complementary reserve currencies and settlement mechanisms. At the end of March, Alexander Babakov, deputy chairman of the Duma, the lower house of the Russian parliament, said the BRICS countries were working on creating a new …

BRICS: Why Saudi Arabia, Iran, and others want to be part of it
1 year, 4 months ago

BRICS: Why Saudi Arabia, Iran, and others want to be part of it

The Hindu  

Published : Aug 22, 2023 15:38 IST - 5 MINS READ The BRICS group of emerging countries—Brazil, Russia, India, China, and South Africa—will meet for their annual summit starting August 22 in Johannesburg. This 2023 summit has gained prominence amid expectations that the grouping could add new members as China and Russia seek to increase their political influence with tensions …

BRICS expansion could be a bad idea. Here’s why
1 year, 4 months ago

BRICS expansion could be a bad idea. Here’s why

Al Jazeera  

As leaders of Brazil, Russia, India, China and South Africa meet for their annual BRICS summit starting on Tuesday, there is little doubt that the grouping has taken on new importance amid intensifying great power competition. But while South Africa, Brazil and India have better relations with the West, they too see lesser reliance on the dollar as being a …

What is the future of the BRICS?
1 year, 4 months ago

What is the future of the BRICS?

Live Mint  

ON AUGUST 22ND the 15th annual summit of the BRICS —a group comprising Brazil, Russia, India, China and South Africa—takes place in Johannesburg. But Mr Ramaphosa’s dilemma is part of a wider struggle between BRICS members over how to make the group geopolitically relevant. An adviser to Iran’s president calls membership of the BRICS “the next step" in his country’s …

BRICS set to be bigger, stronger amid push for unity
1 year, 8 months ago

BRICS set to be bigger, stronger amid push for unity

China Daily  

A remarkable event occurred at the beginning of the year, to which few gave much attention. In addition, BRICS' share of world GDP reached 31.5 percent, while the G7 accounted for 30.7 percent, according to data published by the UK-based economic research firm Acorn Macro Consulting. Ahead of the 15th BRICS Summit, which will be held from Aug 22 to …

Russia may cut off gas to Europe entirely, planning to redirect trade and oil to BRICS countries instead
2 years, 6 months ago

Russia may cut off gas to Europe entirely, planning to redirect trade and oil to BRICS countries instead

ABC  

Russia may cut off gas to Europe entirely as it seeks to bolster its political leverage amid the Ukraine crisis, the head of the International Energy Agency says, adding that Europe needs to prepare now. Key points: Europe needs contingency plans, says the head of IEA Russia is in the process of rerouting its energy exports to BRICS countries President …

Putin wants BRICS leaders support over West's 'Selfish Actions'
2 years, 6 months ago

Putin wants BRICS leaders support over West's 'Selfish Actions'

India TV News  

Highlights Putin asked leaders to cooperate with Rusia in the face of West's selfish actions BRICS has become a platform for discussing issues of common concern for all developing countries The 14th BRICS summit is being hosted by China in a virtual model Russian President Vladimir Putin on Thursday called on the leaders of member nations of BRICS to cooperate …

Discover Related