Questions have emerged as to whether BRICS expansion helps serve Beijing's goal of creating anti-West bloc, but ex-ambassador says most new entrants have good relations with US.
Notably, this was the first the two leaders had met and greeted each other since the standoff between China’s PLA and the Indian forces in eastern Ladakh in April 2020.
South African President Cyril Ramaphosa, who was host to the recently-concluded 15th BRICS Summit, said their membership would come into effect from January 2024.
Beijing is targeting to induct countries like Saudi Arabia and Indonesia into BRICS, which are relatively agnostic about Chinese ideas of trade and investment.
BRICS is in danger of becoming a vehicle for Chinese diplomatic thrust. This could become tricky territory for India, given its basically adversarial relationship with Beijing.
The meeting, scheduled from 22 to 24 August, is likely to discuss on 40 new countries including Saudi Arabia, Argentina and Egypt who have shown interest in joining the alliance.
Deputy chief of mission at Russian embassy in India Roman Babushkin says BRICS members 'have been taking steps to switch to settlements in national currencies for quite some time now'.
The concern is not that 2025’s rally was irrational, but that it may be difficult to repeat. Outlooks remain anchored to AI investment and growth without reigniting inflation.
If deal goes through, Greece will be 2nd foreign country to procure vehicle. Morocco was first; TATA Group has set up manufacturing unit there with minimum 30 percent indigenous content.
Many of you might think I got something so wrong in National Interest pieces written this year. I might disagree! But some deserve a Mea Culpa. I’d deal with the most recent this week.
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