Tag: BRICS
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South Africa’s Ruling ANC Party Calls For BRICS Expansion
South Africa's ruling African National Congress party said the government should use its position as chairman of the BRICS group to welcome new countries to the China-founded bloc. “The ANC and ANC-led government should support the expansion of BRICS by admitting ...
Algeria is the Latest Developing Country to Get in Line to Join the BRICS Group
The Algerian Ministry of Foreign Affairs officially submitted its application this week to become a new member of the BRICS club. Algeria now joins a growing list of developing countries, including Argentina, Saudi Arabia, and Iran, that all want to join the Chinese-initiated group. ...
Undercutting the Amazon? Deregulation in the Wake of South America’s Chinese Investment Boom
By Rebecca Ray As Brazilians head to the polls at the end of this month for a presidential runoff between current President Jair Bolsonaro and former President Luiz Inácio Lula da Silva, one of the many issues on the table is management of the Amazon rainforest. ...
WEEK IN REVIEW: Developing Countries in Asia, for the First Time in More Than 30 Years, Will Grow Faster Than China
Developing countries in Asia, for the first time in more than 30 years, will grow faster than China, according to a new report by the Asian Development Bank. The bank forecasts China's annual growth rate this year to be just 3.3% compared to 4.3% for developing countries in ...
WEEK IN REVIEW: China Quietly Distributed More Than $30 Billion in “Emergency Loans” to Financially-Distressed Developing Countries in Recent Years
China has quietly distributed more than $30 billion in so-called "emergency loans" to financially-distressed developing countries in recent years, according to new data compiled by AidData. Details of the loans have not been publicized but analysts believe they're intended to help borrowers avoid defaulting on Chinese-financed infrastructure loans ...
Xi’s Arrival in Kazakhstan Signals New Phase of Diplomacy
Xi Jinping is back. The Chinese President emerged from nearly three years of diplomatic hibernation on Wednesday when he landed in the Kazakh capital Nur-Sultan for a one-day visit ahead of the Shanghai Cooperation Organization (SCO) summit that will take place at the end of the week ...
WEEK IN REVIEW: Iran Is the Second Country This Week, After Argentina, to Submit an Application to Join the BRICS Club
Iran is the second country this week, after Argentina, to submit an application to join the BRICS club. The BRICS group is increasingly seen by both Beijing and Moscow as a potential alternative to the Western-led international economic order. Although the BRICS states have agreed to expand their ...
BRICS Summit Raises Questions About Shared Agenda
This week’s BRICS summit sets the stage for renewed wrangles around the bloc’s future role. The leaders of Brazil, Russia, India, China, and South Africa will meet virtually on Thursday to discuss cooperation on issues like health cooperation and the post-pandemic recovery. However, despite ...
BRICS Members Back China’s Call to Expand the Bloc
Foreign Ministers from the five-nation BRICS group agreed to support China's call to expand the bloc for the first time in more than a decade when South Africa was added. Member states said in a joint statement after the meeting that they agreed in principle to the move but ...
Argentina Could Be Joining BRICS
🇦🇷 Argentina could become a member of the BRICS group. Argentinian officials are joining a flurry of upcoming events with counterparts from Brazil, Russia, India, China, and South Africa, the bloc's five permanent members. Brazil and China reportedly support Buenos Aires joining the group. (MERCOPRESS) ...
U.S. Internet Freedom Pledge Fails to Get Global South Support
Sixty countries signed a U.S.-led “Declaration of the Future of the Internet” late last week that called for greater online "openness and democracy." But who chose not to join is rapidly becoming the main story. But who chose not to join is rapidly becoming the main story. ...
Russia Presses BRICS to Allow Payment Routes Around Sanctions
As Russia is being squeezed by Western sanctions, it is reaching out to its partners in the BRICS bloc (Brazil, India, China, and South Africa) to allow transactions in their local currencies and to integrate payment systems. This follows the move ...