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The BRICS Summit kicked off in Johannesburg, South Africa, on Tuesday. It is interesting to note that France was looking to attend the gathering of the emerging economies, which shows that the clout of the countries in the Global South is increasing and the emerging economies are getting more and more attention.
It remains one of the signature events of the 1960s in the US: Dr. Martin Luther King's
A disturbing development in East Asia is that the region has emerged as one of the heartlands of the “new cold war,” which has brought shocks to regional supply chains. What’s worse, instead of triggering rational reflection, losses of supply chains and trade may fuel more geopolitical hostility, pushing the originally complementary economic structures into uncharted waters.
As a display of India's eagerness and anxiety to boost local manufacturing, the changeable and market-distorting measures that seemingly came out of nowhere may be just the beginning. But China won't be a cover-up for India's trade barriers.