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BRICS summit of emerging economies to begin in South Africa


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BRICS summit of emerging economies to begin in South Africa

By Claire DOYEN and Nick PERRY
Johannesburg (AFP) Aug 22, 2023
BRICS leaders meet in South Africa on Tuesday as the loose association of major emerging economies seeks to assert its voice as a counterweight to Western dominance in global affairs.

The so-called BRICS nations -- Brazil, Russia, India, China and South Africa -- represent a quarter of the global economy, and interest in joining the club has surged ahead of its three-day summit in Johannesburg.

Security has been bolstered across the city where South Africa's President Cyril Ramaphosa will host China's President Xi Jinping, India's Prime Minister Narendra Modi, Brazil's President Luiz Inacio Lula da Silva and some 50 other leaders.

Russian President Vladimir Putin is the target of an international arrest warrant over alleged war crimes in Ukraine and will not attend in person, with Foreign Minister Sergei Lavrov sent on his behalf.

Representing 40 percent of the world's population across three continents, with economies at different levels of growth, the BRICS share a common desire for a global order they see as better reflecting their interests and rising clout.

The theme of its 15th summit is "BRICS and Africa" and comes as the continent emerges as a renewed diplomatic battleground with the United States, Russia and China jostling for economic and diplomatic influence.

On the eve of the summit, Ramaphosa said his country would "not be drawn into a contest between global powers" and strongly reaffirmed South Africa's long-standing policy of non-alignment.

"We will urge the international community to refocus on development issues, promote a greater role by the BRICS cooperation mechanism in global governance, and make the voice of BRICS stronger," China's Xi said in an editorial published in South African media on Monday.

- Division and demand -

There is growing interest in the bloc, which began as four nations in 2009 but expanded the following year with the addition of South Africa.

Ahead of this summit, at least 40 countries have expressed interest in joining including Iran, Saudi Arabia, Bangladesh and Argentina, officials say.

South Africa will present BRICS leaders with a proposal to expand its membership and a decision on the matter is expected at the summit's close.

But analysts are more cautious.

The issue of BRICS expansion is divisive, particularly among its two most powerful members, China and India.

China is keen to rapidly grow the bloc and widen its influence but observers say India is wary of the intentions of its regional rival.

"In my view, possible further extension will be considered during the course of this year and not decided at the summit to allow for more time," said Jannie Rossouw, a professor of global political economy at the University of the Witwatersrand in Johannesburg.

The BRICS operate on consensus and that presents "a major obstacle" to decision making, said Jakkie Cilliers, founder of the Pretoria-based Institute for Security Studies (ISS) think tank.

"In the long term, my view is that the inevitability of China-India rivalry is probably the major challenge that BRICS will eventually be confronted with," he told AFP.


Artificial Intelligence Analysis

Defense Industry Analyst:

8/10

Stock Market Analyst:

6/10

General Industry Analyst:

7/10

Analyst

Summary

: The BRICS nations, composed of Brazil, Russia, India, China, and South Africa, are scheduled to meet on Tuesday in South Africa for their 15th summit. The theme of the summit is “BRICS and Africa” and the leaders are hoping to assert their voice as a counterweight to Western dominance in global affairs. The group represents a quarter of the global economy and has seen a surge in interest in joining the club. Security has been bolstered across the city for the meeting and South African President Cyril Ramaphosa has stated that South Africa will not be drawn into a contest between global powers. China’s President Xi Jinping has urged the international community to “refocus on development issues, promote a greater role by the BRICS cooperation mechanism in global governance, and make the voice of BRICS stronger.”The BRICS nations have been a force to be reckoned with since their original formation in 2009, representing 40% of the world’s population and economies at different levels of growth. In the past 25 years, there has been a shift in the balance of power in the global economy with the rise of the BRICS nations. This shift has become increasingly evident with the surge in interest in joining the BRICS group and the greater role they are playing in global governance.Investigative

Question:

  • 1. What strategies are being implemented by the BRICS nations to increase their influence in global affairs?

  • 2. What are the potential geopolitical implications of the BRICS nations growing influence?

  • 3.
How have the BRICS nations been able to capitalize on their collective strengths to assert their voice in global affairs?

4. What is the projected growth rate of the BRICS nations’ economies in the next five years?

5. What strategies are other nations using to compete with the BRICS nations’ influence?

This AI report is generated by a sophisticated prompt to a ChatGPT API. Our editors clean text for presentation, but preserve AI thought for our collective observation. Please comment and ask questions about AI use by Spacedaily. We appreciate your support and contribution to better trade news.


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