Breaking: BRICS leaders make a pact for alliance expansion

Description

It was a momentous occasion. Leaders of the BRICS nations gathered in Johannesburg, ostensibly signaling a new era in global alliances. With an agenda primarily focused on expanding their influence, the BRICS – Brazil, Russia, India, China, and South Africa – are eyeing an enlargement of their bloc. With the potential inclusion of several new … Read more

It was a momentous occasion. Leaders of the BRICS nations gathered in Johannesburg, ostensibly signaling a new era in global alliances.

With an agenda primarily focused on expanding their influence, the BRICS – Brazil, Russia, India, China, and South Africa – are eyeing an enlargement of their bloc. With the potential inclusion of several new member nations, the expansion could undoubtedly shift the scales of power.

Behind Closed Doors: The Expansion Debate

The three-day summit held in Johannesburg became a hotspot for debates and discussions around the bloc’s enlargement. While the initial sentiment seemed to favor the expansion, with numerous countries vying for a seat at the table, not everything went as smoothly as anticipated.

Naledi Pandor, South Africa’s foreign minister and the summit host, expressed optimism about the consensus on expansion mechanisms, indicating a positive trajectory for the future of BRICS.

However, there was a catch. Insider sources revealed that the final admission framework remained unsigned. The hiccup? India’s Prime Minister, Narendra Modi, introduced fresh admission criteria, casting a shadow over the proceedings.

Such last-minute alterations reveal the intricacies and nuances that come with aligning such diverse economies and governments under a single banner. For a bloc that functions on a consensus model, where each member’s voice carries weight, these decisions aren’t taken lightly.

Diverging Paths and Potential Spoilers

The BRICS nations aren’t a homogeneous entity. China, for instance, sees the expansion of BRICS as a strategic move to establish a more multipolar world order. This sentiment was resonated by China’s President, Xi Jinping, emphasizing the role of unity in strengthening the BRICS nations.

However, Russia’s President, Vladimir Putin, attending the summit virtually due to the outstanding international arrest warrant, is looking for alliances to counter the West’s dominance.

On the other side of the spectrum, Brazil and India appear to be drawing closer ties with Western powers, revealing the multifaceted nature of global diplomacy.

India’s newly proposed admission criteria further complicated matters. Modi’s propositions included excluding nations under international sanctions and introducing a minimum per capita GDP requirement.

While it’s unclear how these criteria will play out, it’s evident that Modi’s bold move has added another layer to the discussions.

The BRICS Enlargement: What Lies Ahead

As the summit drew to a close, over 40 nations expressed their interest in joining the BRICS, representing a broad spectrum ranging from Iran to Argentina.

The allure? A promise to recalibrate the world order and a counterbalance to the traditional Western hegemony. Delegations from several prospective countries were even present in Johannesburg, keenly observing and undoubtedly lobbying for their inclusion.

Yet, despite the BRICS accounting for about 40% of the world’s population and a significant chunk of its GDP, the bloc’s vision seems somewhat disjointed. Critics argue that its influence on the world stage is relatively muted, given its potential.

The West, however, remains cautious. The White House’s national security advisor, Jake Sullivan, dismissed the BRICS as a potential geopolitical adversary to the United States.

But, the West cannot completely ignore the growing influence of BRICS. Werner Hoyer, leading the European Investment Bank, highlighted the urgency for Western governments to intensify support for the “Global South”.

The BRICS summit in Johannesburg was more than just a meeting of leaders. It signaled the evolving nature of global alliances and the potential challenges that come with it.

While the world waits to see the bloc’s next move, one thing’s for certain – the BRICS nations are poised to play an even more significant role in shaping the future of global diplomacy.

Disclaimer: The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

文章来源于互联网:Breaking: BRICS leaders make a pact for alliance expansion

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年8月24日 15:32
Next 2023年8月24日 16:36

Related articles

  • Islamic coin co-founder discusses the legitimacy of the project

    TL;DR Breakdown The co-founder of Islamic Coin Mohammed AlKaff AlHashmi has waded into the discussion regarding the legitimacy of the crypto. Crypto regulation in Europe vs. the Middle East and North Africa. Description In the rapidly evolving world of cryptocurrency, the intersection of technology and religion is gaining attention. One particular area of interest is the compatibility of digital assets with Islamic principles, known as Shariah-compliance. Mohammed AlKaff AlHashmi, co-founder of “Islamic Coin,” believes that cryptocurrencies can be considered Shariah-compliant if they serve as a store of value … Read more In the rapidly evolving world of cryptocurrency, the intersection of technology and religion is gaining attention. One particular area of interest is the compatibility of digital assets with Islamic principles, known as Shariah-compliance. Mohammed AlKaff AlHashmi, co-founder of “Islamic Coin,” believes that cryptocurrencies can be considered Shariah-compliant if they serve as a store of value or a medium of exchange. He asserts that Islam’s robust ethical framework is adaptable to modern technological advancements, including blockchain and cryptocurrencies. Islamic Coin secured $200 million in funding While there has been a…

    Article 2023年9月11日
  • Polkadot price analysis: DOT crashes to $5 support after latest decline

    TL;DR Breakdown . Polkadot price declined 4 percent today . Price dropped as low as $4.90 . DOT set to continue to test support at $5 Polkadot price analysis shows a continuation of the downtrend in place, as price dipped another 3 percent to fall as low as $4.90 over the past 24 hours. Having recovered back up to $4.99 at the time of writing, DOT has declined more than 10 percent since the start of June. Polkadot price is set to continue to test support at the $5 mark, whereas the immediate resistance point is set at $5.5 which was the high on May 28. Over the past 24 hours, DOT trading volume dropped slightly, indicating a bearish trend, whereas the token’s market capitalisation dropped 4 percent to $6,624,378,804. The larger cryptocurrency market also continued to trend downwards, as Bitcoin dropped to $26,200 with a 3 percent decrement, and Ethereum declined in a similar way to move down to $1,800. Among leading Altcoins, Ripple lost 2 percent to move down to $0.51, while Cardano dropped a massive 9 percent…

    Article 2023年6月13日
  • Binance continues European clampdown: Privacy coins now delisted in Belgium

    TL;DR Breakdown Binance has ceased trading specific privacy coins like Monero (XMR) and MobileCoin (MOB) for its Belgian users in response to local regulations. Earlier in the year, the exchange made similar moves in France, Italy, Poland, and Spain, reflecting the broader European concerns about anonymous crypto transactions. As the European Union intensifies its stance on money laundering linked with anonymous crypto transactions, Binance proactively aligns its operations by delisting privacy coins in several European countries, including Belgium. Description The quest for privacy often clashes with regulatory scrutiny in the rapidly evolving world of cryptocurrency. Binance, the world’s largest cryptocurrency exchange, has again demonstrated its commitment to adhering to regional regulations by delisting certain privacy coins in Belgium. This move closely follows similar actions in other European countries, showcasing the growing tension between enthusiasts … Read more The quest for privacy often clashes with regulatory scrutiny in the rapidly evolving world of cryptocurrency. Binance, the world’s largest cryptocurrency exchange, has again demonstrated its commitment to adhering to regional regulations by delisting certain privacy coins in Belgium. This move closely follows…

    Article 2023年9月7日
  • Vauld crypto exchange gets court nod for board overhaul amid crisis

    TL;DR Breakdown Singapore-based Vauld crypto exchange gains court approval to revamp its board amid bankruptcy proceedings. Vauld has restarted its Know Your Customer checks, requiring existing clients to resubmit verification documents. In July 2022, Vauld halted customer withdrawals due to adverse market conditions, leading to a $200 million bank run. Description Singapore-based crypto exchange Vauld has received court approval to overhaul its board of directors. The move is part of the company’s ongoing bankruptcy proceedings, which began in August 2022. Darshan Bathija, Vauld’s co-founder, announced the news on X, formerly known as Twitter, on August 24. The new board will consist of a fresh CEO, a … Read more Singapore-based crypto exchange Vauld has received court approval to overhaul its board of directors. The move is part of the company’s ongoing bankruptcy proceedings, which began in August 2022. Darshan Bathija, Vauld’s co-founder, announced the news on X, formerly known as Twitter, on August 24. The new board will consist of a fresh CEO, a creditor representative, and a scheme manager. Moreover, the platform has resumed its Know Your Customer (KYC)…

    Article 2023年8月26日
  • China’s digital yuan gets a game-changing makeover

    TL;DR Breakdown Changchun Mu, the director of the Digital Currency Research Institute of the People’s Bank of China, emphasized the desire of digital yuan developers to see it integrated into all online retail payment options. One of the key points Mu raised was the integration of the digital yuan into popular payment platforms and applications used by consumers, including those operated by commercial banks, WeChat, and Alipay. Description Changchun Mu, the director of the Digital Currency Research Institute of the People’s Bank of China, made an intriguing announcement regarding China’s central bank digital currency (CBDC), also known as the digital yuan on September 3. Speaking at the annual China International Service Trade Fair, Mu highlighted the ongoing technological and business model upgrades that … Read more Changchun Mu, the director of the Digital Currency Research Institute of the People’s Bank of China, made an intriguing announcement regarding China’s central bank digital currency (CBDC), also known as the digital yuan on September 3. Speaking at the annual China International Service Trade Fair, Mu highlighted the ongoing technological and business model upgrades…

    Article 2023年9月4日
TOP