Thanks to three great channels the Duran Scott Ritter RT News from Russia
From August 22nd to 24th, Johannesburg, South Africa, will become the center of the multipolar world, as the most relevant emerging economies of the planet – Brazil, Russia, …
Thanks to three great channels the Duran Scott Ritter RT News from Russia
From August 22nd to 24th, Johannesburg, South Africa, will become the center of the multipolar world, as the most relevant emerging economies of the planet – Brazil, Russia, India, China and South Africa – gather to hold its 15th summit.
The BRICS group arrive at this new high-level meeting flexing its political and economic muscle, fielding dozens of applications from hopeful countries, and developing its economic structures to attempt a de-dollarization of the world’s economy.
BRICS leaders are divided over the expansion of the bloc. China is the main proponent of the BRICS expansion, while Brazil is skeptical and internally divided over it. Russia, fighting diplomatic isolation by the West, wants to bring in new members, as does South Africa – but India is undecided.
Another hot issue on the table is the New Development Bank (NDB), the so-called ‘BRICS bank’. Established in 2015, it is studying the use of alternative currencies in the trade among its members, de-dollarization, but there are no programmed discussions about a much-speculated about ‘common BRICS currency’ during the summit.
But apart from the shining new agendas, BRICS is about improving the economic ties between the diverse economies of the group, and developing trade and investment opportunities.
What exactly will be discussed in the three days of the Summit? according to Sputnik Africa (https://en.sputniknews.africa)
“According to Anil Sooklal, South Africa’s BRICS sherpa, the first day of the summit will be devoted to a business forum, with heads of state addressing participants at the final session in the evening. The agenda of the second day will reportedly include a closed discussion of geopolitics, security issues, finance, and economics and an open session with representatives of the Business Council, the Women’s Business Alliance, and the BRICS New Development Bank.”
Again, from Sputnik
“‘This summit, even before it took place, is a success since there are a huge number of countries that want to join the BRICS’, Akram Kharief, founder of the military information site Menadefense, said.”
Ashraf Patel, from the South African foreign policy think tank, the ‘Institute for Global Dialogue’:
has said:
“The need for a multipolar world order is a key demand from nations of the Global South. G20 and BRICS are leading in this regard. […] BRICS programs such as the New Development Bank NDP provides a new model of development finance, and new members are accessing these funds. This is a game changer. The new BRICS currency model, starting at a regional level, can open a new trade system that is cheaper and linked to commodity trade and remove expensive trade finance costs by international banks."
