Page 78 - Brics News Today

The most noteworthy development at the "BRICS Summit," which took place in Johannesburg, South Africa from Tuesday to Thursday, was the decision towards "expansion" of the organization. In addition to Brazil, Russia, India, China, and South Africa, Saudi Arabia, Iran, the United Arab Emirates, Egypt, Ethiopia, and Argentina are expected to join the organization in January 2024. This decision indicates a resolution of the disagreements among BRICS members regarding expansion. ...

Currently, China contributes 70% of the BRICS' GDP, which will decline to 62%, while India chips in with 13% which will inch down to 12%.

The genesis of the G20 was at the end of the last century. The major economies of the world got together with a vision of a collective and coordinated response to economic crises. Its salience grew even more during the global economic crisis in the first decade of the 21st century.

President Cyril Ramaphosa addressed the nation on Sunday evening on the outcomes of the 15th Brics summit and on the conclusion of the panel investigation into the docking of the Russian vessel the Lady R in South Africa.

The fault line on which these groups sit are not global north versus global south or West versus the rest, but about multilateral institutions being controlled by few, hailing from across aforementioned easy binaries. It is not possible to turn the clock back.

Leaders of the BRICS - Brazil, Russia, India, China and South Africa - invited Iran and Argentina, Saudi Arabia, the United Arab Emirates (UAE), Ethiopia and Egypt into the club at a summit last week in Johannesburg.

The U.S. and other G7 nations increasingly see evidence of deep-seated structural problems that ultimately will strengthen the West’s hand.

If we don’t have money, we should leverage what we have, territory that is teeming with mineral wealth fresh and sea water.

The BRICS group of nations is an alliance between emerging economies initially formed in 2006 by Russia, China, India, and, Brazil, and joined four years later by South Africa.

The party’s dalliance with dictators and anti-democratic forces doesn’t augur well for the future of our democracy, writes Barney Mthombothi.