#BRICS summit

[thelostdreamsthings]

"Putin is isolated."

BRICS, 50% of the World population is telling a big "fuck off" to the arrogant, declining and decadent G7 amounting to 10% of the World's population.

🇺🇳🇷🇺 UN Secretary General Guterres respectfully bows and shakes the hand of Putin in Russia’s Kazan at the BRICS summit.

A lot of people start crying and scream hysterically when they see this picture, for some reason.

[BRICS Currency Looms Large: Could This Be the Beginning of the End for U.S. Dollar Dominance?

For decades, the U.S. dollar has been weaponized as a tool of global dominance, wielded by the American empire to enforce its geopolitical will.

Through sanctions, coercive financial practices, and the threat of exclusion from the dollar-based system, the U.S. has effectively terrorized nations across the world.

The pretense of a “free market” economy has long been shattered by Washington's aggressive use of the dollar as a weapon to cripple economies, isolate adversaries, and exert control over global trade.

But the world is growing tired—sick and tired—of this financial tyranny. And now, with the rise of BRICS, we may be witnessing the beginning of the end for U.S. dollar supremacy.

BRICS—Brazil, Russia, India, China, and South Africa—represent a bloc of nations that together account for nearly half of the global population and a significant chunk of the world’s GDP.

For years, these nations have been quietly collaborating to counterbalance the West's stranglehold over international finance, and now, they are inching closer to launching their own currency.

The creation of a BRICS currency signals an outright challenge to the dollar-dominated global economy, and it is nothing short of a revolt against American financial imperialism.

Why is this happening? The answer is simple: countries are fed up with being bullied. The U.S. has used its currency like a sledgehammer, smashing nations that dare to defy its hegemony.

Whether through sanctions on Iran, Venezuela, or Russia, or by financially suffocating smaller nations into submission, the dollar has become a tool of coercion rather than commerce.

Nations who once played by the rules of the so-called “global order” have found themselves punished, their economies crippled, and their people starved—merely for refusing to kowtow to Washington's dictates.

But BRICS is offering an alternative. The creation of a BRICS currency, backed by the economic strength of its member nations, offers the world a way out of the suffocating grip of the dollar.

This is not just about financial autonomy—it’s about reclaiming sovereignty, independence, and the right to conduct trade without the constant threat of U.S. interference.

Russia and China have been leading the charge in this effort, driven in part by the U.S. sanctions imposed on Moscow following the Ukraine conflict and the ongoing trade war with Beijing.

Both countries have moved aggressively to reduce their reliance on the U.S. dollar, increasing trade with each other and with other BRICS members in their local currencies.

They are laying the groundwork for a currency that could be based on a basket of commodities, potentially gold-backed, further weakening the grip of the U.S. dollar on the global market.

The U.S. has long prided itself on its role as the issuer of the world’s reserve currency, but this dominance was never guaranteed to last forever.

The BRICS currency threatens to dismantle the global financial architecture that has allowed the U.S. to live far beyond its means.

For decades, the U.S. has run massive deficits, printing money at will, secure in the knowledge that the world would continue to rely on the dollar.

But as BRICS nations move to establish their own currency, that privilege could evaporate overnight.

The implications for the U.S. are dire. If the dollar loses its status as the world’s reserve currency, the U.S. economy could face a severe reckoning.

The artificial demand for dollars that has kept interest rates low and allowed the U.S. to run massive debt could vanish, leading to inflation, higher borrowing costs, and potentially a fiscal crisis.

The American empire, propped up for so long by its control of global finance, could find itself in rapid decline.

For the rest of the world, however, the rise of a BRICS currency represents hope—a chance to escape the iron grip of U.S. financial imperialism. No longer will countries have to fear the punitive measures of the U.S. Treasury.

No longer will they have to worry about being cut off from the global financial system for standing up to American bullying.

The creation of a new currency could usher in a multipolar world, where nations are free to trade without being subject to the whims of a single superpower.

Of course, the U.S. will not go quietly. Washington will likely pull out all the stops to crush the BRICS currency before it can gain traction. The playbook will be the same: propaganda, financial sabotage, and even the threat of military intervention.

But this time, the world may not be so easily intimidated. The BRICS nations, backed by their vast resources and burgeoning economies, are prepared to stand their ground.

In the end, the creation of a BRICS currency is not just an economic development—it’s a revolutionary act. It’s a declaration that the age of American financial dominance is coming to an end, and that a new world is on the horizon.

The U.S. dollar, once seen as the bedrock of global stability, has become a symbol of oppression, and the world is ready to move on.

The question now is not whether the U.S. dollar will fall, but when. And as BRICS moves closer to launching its own currency, that day may be sooner than anyone expects.

The empire, long propped up by its financial manipulation, is facing a reckoning—one that could change the course of history.]

IMF Growth Forecast: 2024

🇮🇳India: 7.0% (BRICS)

🇨🇳China: 4.8% (BRICS)

🇷🇺Russia: 3.6% (BRICS)

🇧🇷Brazil: 3.0% (BRICS)

🇺🇸US: 2.8% (G7)

🇸🇦KSA: 1.5% (invited to BRICS)

🇨🇦Canada: 1.3% (G7)

🇿🇦RSA: 1.1% (BRICS)

🇬🇧UK: 1.1% (G7)

🇫🇷France: 1.1% (G7)

🇮🇹Italy: 0.7% (G7)

🇯🇵Japan: 0.3% (G7)

🇩🇪Germany: 0.0% (G7)

‼️ 159 out of 193 countries have signed up to use the new BRICS settlement system.

US and European Union will no longer be able to use economic sanctions as a weapon.

This system allows countries to settle trades and payments in their own currencies, reducing reliance on the U.S. dollar, which has long been the dominant global currency.

[yuri-alexseygaybitch]

Good (short) write-up on BRICS from PSL. Key part imo:

[troythecatfish]

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[punishedsaints]

Soooo... What are you going to do now, USA? lol.

Or if you were just against Maduro... how does this make you feel?

[workersolidarity]

Interesting new graph from Visual Capitalist on the BRICS expansion.

BRICS has agreed to accept the following six new Members States:

Egypt

Ethiopia

Argentina

Iran

UAE

Saudi Arabia

Together, BRICS will now encompass 46% of the Global population, representing 29% of Global GDP, 25% of Global Exports, and 43% of Global Oil Production.

[matovugodfreymg]

*🌍 A҉F҉R҉I҉C҉A҉*

THE BRICS PUZZLE : __what is at stake for_ *AFRICA*? 🇿🇦🇳🇬🇪🇬🇪🇹

📌

https://x.com/i/spaces/1mnxeAVpnpNxX

📍

*@𝑴𝒈* 💕🕊️

*#A҉F҉R҉I҉C҉A҉_U҉N҉I҉T҉E҉D҉* 🌍

*𝓤𝓷𝓲𝓽𝓮𝓭𝓹𝓮𝓸𝓹𝓵𝓮𝓸𝓯𝓪𝓯𝓻𝓲𝓬𝓪.𝓸𝓻𝓰*

☕︎☕︎☕︎

[coucoumacherie]

The swagger on this man might be unmatched

[penmanshipeb]

North Korea is into it with South Korea. The US is involved with that.

China and Taiwan are at odds and on the edge of war. The US is involved with that.

There's trouble in the middle east with this Israel and Hamas war. The US is involved in that.

Russia and Ukraine are yet at war. The US is involved in that. In fact, the US's role in the Russia and Ukraine conflict has given much fuel to BRICS' (Brazil Russia India China South Africa) dedollarisation international campaign.

It's so much that can further be said, even the fallen, backslidden state of the Church all adds to the signs of the time. The world is heading towards a new horizon that won't be sunny.

Just as John the Baptist was given to go before the Savior to "make his paths straight," the same has strongly been taking place to precede "the man of sin" that is to come upon the world stage. There is a strong antiChrist spirit within both the world and right in the midst of Churches today. . . When we're caught up with the lust of the flesh, lust of the eyes, or pride of life, we're oblivious to all the signs, sirens, and warnings that alarm to cause us to be prepared or flee because we're either not sober spiritually or spiritually in darkness. So much more can be said. If there ever was a time to get serious about God, nowd the time. Don't further put him off. 🙏

You get ready for war in a time of peace, and the warfare in this sense is spiritual . . . Be alarmed

📜‭‭Matthew‬ ‭24:3‭-‬6‬

[3] Now as He sat on the Mount of Olives, the disciples came to Him privately, saying, “Tell us, when will these things be? And what will be the sign of Your coming, and of the end of the age?” [4] And Jesus answered and said to them: “Take heed that no one deceives you. [5] For many will come in My name, saying, ‘I am the Christ,’ and will deceive many. [6] And you will hear of wars and rumors of wars. See that you are not troubled; for all these things must come to pass, but the end is not yet.

📜‭‭II Thessalonians‬ ‭2:3‭-‬4‬, 7-11

[3] Let no one deceive you by any means; for that Day will not come unless the falling away comes first, and the man of sin is revealed, the son of perdition, [4] who opposes and exalts himself above all that is called God or that is worshiped, so that he sits as God in the temple of God, showing himself that he is God.

[7] For the mystery of lawlessness is already at work; only He who now restrains will do so until He is taken out of the way. [8] And then the lawless one will be revealed, whom the Lord will consume with the breath of His mouth and destroy with the brightness of His coming. [9] The coming of the lawless one is according to the working of Satan, with all power, signs, and lying wonders, [10] and with all unrighteous deception among those who perish, because they did not receive the love of the truth, that they might be saved. [11] And for this reason God will send them strong delusion, that they should believe the lie, [12] that they all may be condemned who did not believe the truth but had pleasure in unrighteousness.

📜‭‭II Timothy‬ ‭3:12‭-‬13‬

[12] Yes, and all who desire to live godly in Christ Jesus will suffer persecution. [13] But evil men and impostors will grow worse and worse, deceiving and being deceived

[herukapadmajungiansworld]

Accept or not accept? That is the question

Arresting Russia’s President Vladimir Putin would amount to a declaration of war on Russia, South African President Cyril Ramaphosa wrote in court papers released on Tuesday as the country wrangles over hosting the Russian leader.

Putin has been invited to a BRICS summit in Johannesburg next month but is the target of an international criminal court arrest warrant – a provision that Pretoria as an ICC member would be expected to implement were he to attend, AFP reports.

South Africa’s diplomatic dilemma is playing out in court, where the leading opposition party, the Democratic Alliance (DA), is trying to force the government’s hand and ensure the Kremlin leader is held and handed over to the ICC if he steps foot in the country.

But in a responding affidavit, described the DA’s application as “irresponsible” and said national security was at stake.

Ramaphosa said:

Russia has made it clear that arresting its sitting President would be a declaration of war.

It would be inconsistent with our constitution to risk engaging in war with Russia.

Guardian

[kneedeepincynade]

Israel has tried to starve Gaza, but the international community and especially China, have refused to let this happen and have sent more and more aid to gaza and are fighting to let the aid in

The post is machine translated

Translation is at the bottom

The collective is on telegram

🥰 帮助巴勒斯坦 | LA CINA INVIA AIUTI UMANITARI ALLA POPOLAZIONE DI GAZA 🇵🇸

🇨🇳 Durante il Vertice BRICS, il Presidente Xi Jinping ha ricordato l'importanza della Risoluzione della Questione Palestinese. Dal "Cessate il Fuoco" ai Negoziati, con l'obiettivo di costruire uno Stato di Palestina, che sia indipendente e sovrano 🇵🇸

🕊 Uno dei punti fondamentali della Posizione Cinese, fin dai primi giorni dell'escalation del Conflitto, riguarda l'apertura di un Corridoio Umanitario a Gaza. Migliaia di persone, tra cui bambini, sono morte sotto gli incessanti bombardamenti d'Israele. Ospedali, magazzini, case e luoghi di culto sono stati distrutti 😭

🇨🇳 La Cina ha fornito aiuti ai Palestinesi, e continuerà a farlo. La Cina ha inviato l'equivalente di otto camion carichi di forniture umanitarie, biscotti, latte, miele, acqua potabile e altro ad Arish, in Egitto, per trasportarli nella Striscia di Gaza 🇵🇸

🇨🇳 Inoltre, ieri la Cina ha donato 1.000.000 USD all'UNRWA, le cui scuole sono state distrutte dai bombardamenti israeliani 🇮🇱

🔍 Approfondimenti:

❤️ La Cina invia aiuti umanitari alla Popolazione Palestinese di Gaza e della West Bank 🏥

❤️ L'Agenzia Cinese per la Cooperazione Internazionale allo Sviluppo invia beni di sussistenza all'UNWRA, ma Israele bombarda i magazzini dell'ONU a Gaza 😡

一 La Cina condanna l'espansione degli insediamenti israeliani nei territori della Palestina, e sollecita Israele a cessare l'escalation di violenza dei coloni contro i civili di Gaza 🕊

二 Wang Yi a Borrell: «La Palestina ha il Diritto di fondare uno Stato, l'ingiustizia storica contro il Popolo Palestinese non è mai stata corretta» 🇵🇸

三 Zhang Jun: «Fermare la crisi umanitaria, promuovere l'Istituzione di uno Stato di Palestina» 🇵🇸

🌸 Iscriviti 👉 @collettivoshaoshan 😘

🥰 帮助巴勒斯坦 | CHINA SENDS HUMANITARIAN AID TO THE POPULATION OF GAZA 🇵🇸

🇨🇳 During the BRICS Summit, President Xi Jinping recalled the importance of the Resolution of the Palestinian Question. From the "Ceasefire" to the Negotiations, with the aim of building a State of Palestine, which is independent and sovereign 🇵🇸

🕊 One of the fundamental points of the Chinese position, since the first days of the escalation of the conflict, concerns the opening of a Humanitarian Corridor in Gaza. Thousands of people, including children, have died under Israel's incessant bombardment. Hospitals, warehouses, homes and places of worship have been destroyed 😭

🇨🇳 China has provided aid to the Palestinians, and will continue to do so. China sent the equivalent of eight trucks loaded with humanitarian supplies, biscuits, milk, honey, drinking water and more to Arish, Egypt, to transport them to the Gaza Strip 🇵🇸

🇨🇳 Furthermore, yesterday China donated 1,000,000 USD to UNRWA, whose schools were destroyed by Israeli bombings 🇮🇱

🔍 Further information:

❤️ China sends humanitarian aid to the Palestinian population of Gaza and the West Bank 🏥

❤️ China Agency for International Development Cooperation sends subsistence goods to UNWRA, but Israel bombs UN warehouses in Gaza 😡

一 China condemns the expansion of Israeli settlements in the Palestinian territories, and urges Israel to cease the escalation of settler violence against civilians in Gaza 🕊

二 Wang Yi to Borrell: «Palestine has the Right to establish a State, the historical injustice against the Palestinian People has never been corrected» 🇵🇸

三 Zhang Jun: «Stop the humanitarian crisis, promote the establishment of a State of Palestine» 🇵🇸

🌸 Subscribe 👉 @collectivoshaoshan 😘

[jloisse]

Les BRICS s'agrandissent officiellement : 6 nouveaux membres rejoindront le bloc l'année prochaine

@presstvchannel

[theculturedmarxist]

Full text after break

Chinese President Xi Jinping on Tuesday made a speech at the Closing Ceremony of the BRICS Business Forum 2023, which was read out by Chinese Commerce Minister Wang Wentao. 

Following is the full text of the speech:

Enhancing Solidarity and Cooperation To Overcome Risks and Challenges And Jointly Build a Better World

Your Excellency President Matamela Cyril Ramaphosa,

Members of the Business Community,

Ladies and Gentlemen,

Friends,

I wish to extend my warm congratulations on the success of the BRICS Business Forum in South Africa!

Ten years ago here in South Africa, we BRICS leaders witnessed the birth of the BRICS Business Council. Since then, the Council has stayed true to its founding mission. It has seized opportunities to deepen cooperation, contributing to economic and social development of BRICS countries and helping sustain global economic growth.

Right now, changes in the world, in our times and in history are unfolding in ways like never before, bringing human society to a critical juncture. Should we pursue cooperation and integration, or just succumb to division and confrontation? Should we work together to maintain peace and stability, or just sleepwalk into the abyss of a new Cold War? Should we embrace prosperity, openness and inclusiveness, or allow hegemonic and bullying acts to throw us into depression? Should we deepen mutual trust through exchanges and mutual learning, or allow hubris and prejudice to blind conscience? The course of history will be shaped by the choices we make.

An ancient Chinese thinker observed that “following the underlying trend will lead one to success, while going against it can only cause one to fail.” We humankind have achieved notable economic development and social progress over the past decades, and that is because we have drawn lessons from the two world wars and the Cold War, followed the historical trend of economic globalization, and embarked on the right path of openness and development for win-win cooperation. Our world today has become a community with a shared future in which we all share a huge stake of survival. What people in various countries long for is definitely not a new Cold War or a small exclusive bloc; what they want is an open, inclusive, clean and beautiful world that enjoys enduring peace, universal security and common prosperity. Such is the logic of historical advance and the trend of our times.

Ten years ago, I made a proposition of building a community with a shared future for mankind, calling on all countries to build this planet we all call home into a harmonious family. In the face of high winds, choppy waters and even treacherous storms, we in all countries need to uphold the correct views of the world, of history and of our overall interests, and act to translate the vision of a community with a shared future for mankind into reality.

—We need to promote development and prosperity for all. Many emerging markets and developing countries (EMDCs) have come to what they are today after shaking off the yoke of colonialism. With perseverance, hard work and huge sacrifices, we succeeded in gaining independence and have been exploring development paths suited to our national conditions. Everything we do is to deliver better lives to our people. But some country, obsessed with maintaining its hegemony, has gone out of its way to cripple the EMDCs. Whoever is developing fast becomes its target of containment; whoever is catching up becomes its target of obstruction. But this is futile, as I have said more than once that blowing out others’ lamp will not bring light to oneself.

Every country has the right to development, and the people in every country have the freedom to pursue a happy life. With that in mind, I have proposed the Global Development Initiative, with the goal of promoting development for all by the international community and boosting the UN 2030 Agenda for Sustainable Development. With the support of many countries, solid gains have been made in pursuing this initiative, with cooperation flourishing in various fields. China will work with all other countries to speed up cooperation under the Global Development Initiative, strengthen drivers of global development, promote the reform of the World Trade Organization in a comprehensive and in-depth manner, meet common challenges together and make life better for people across the world.

—We need to achieve universal security. Recent years have seen a turbulent world; many countries and regions are plagued by wars and conflicts and many people are displaced. Members of the international community share the pressing hope to eradicate the root cause of conflicts and wars, and find a fundamental way to realize enduring peace and security globally. Facts have shown that any attempt to keep enlarging a military alliance, expand one’s own sphere of influence or squeeze other countries’ buffer of security can only create security predicament and insecurity for all countries. Only a commitment to a new vision of common, comprehensive, cooperative and sustainable security can lead to universal security.

Last year, I put forward the Global Security Initiative, and it has gained support from over 100 countries and international organizations. China stands ready to jointly pursue this initiative with all others. We should have dialogue and oppose confrontation, forge partnership but not alliance, and pursue win-win outcome and oppose zero-sum game, and work together to build a community of security.

—We need to stay committed to exchanges among civilizations and mutual learning. One flower alone cannot make a beautiful spring; only blossoming of a rich variety of flowers can bring spring to the global garden. Human civilization is colorful by nature. It is precisely because of their differences in history, culture and system that all countries need to interact with one another, learn from each other, and advance together. Deliberately creating division with the assertion of “democracy versus authoritarianism” and “liberalism versus autocracy” can only split the world and lead to clash of civilizations.

I have put forward the Global Civilization Initiative, calling for promoting diversity of global civilizations, the common values of humanity, and people-to-people and cultural exchanges and cooperation. China welcomes all other countries to get involved in cooperation under this initiative. We should encourage different civilizations to bring out their best and flourish together; we should break barriers to exchanges, and renew human civilization.

Ladies and Gentlemen,

Friends,

As an ancient Chinese philosopher observes, “Change is the nature of the universe.” The collective rise of EMDCs represented by BRICS is fundamentally changing the global landscape. EMDCs have contributed as high as 80 percent of global growth in the past 20 years, and their share in the global GDP has increased from 24 percent 40 years ago to more than 40 percent. Just as a line in a Chinese poem reads, “No mountains can stop the surging flow of a mighty river.” Whatever resistance there may be, BRICS, a positive and stable force for good, will continue to grow. We will forge stronger BRICS strategic partnership, expand the “BRICS Plus” model, actively advance membership expansion, deepen solidarity and cooperation with other EMDCs, promote global multipolarity and greater democracy in international relations, and help make the international order more just and equitable. The gathering between BRICS countries and more than 50 other countries in South Africa today is not an exercise of asking countries to take sides, nor an exercise of creating bloc confrontation. Rather, it is an endeavor to expand the architecture of peace and development. I am glad to note that over 20 countries are knocking on the door of BRICS. China hopes to see more joining the BRICS cooperation mechanism.

Ladies and Gentlemen,

Friends,

China stays committed to an independent foreign policy of peace and the building of a community with a shared future for mankind. As a developing country and a member of the Global South, China breathes the same breath with other developing countries and pursues a shared future with them. China has resolutely upheld the common interests of developing countries and worked to increase the representation and voice of EMDCs in global affairs. Hegemonism is not in China’s DNA; nor does China have any motivation to engage in major-power competition. China stands firmly on the right side of history, and believes that a just cause should be pursued for the common good.

At present, we Chinese, under the leadership of the Communist Party of China, are advancing the great rejuvenation of the Chinese nation on all fronts by pursuing Chinese modernization. Chinese modernization aims to achieve common prosperity, material and cultural-ethical advancement, harmony between humanity and nature, and peaceful development for a huge population. Chinese modernization has created a new form of human advancement and presented a new future of modernization. We hope that other developing countries can draw on the outstanding achievements of human civilization and find their own paths to modernization in keeping with their national conditions.

Achieving high-quality development is a top priority in China’s goal of fully building itself into a modernized country. We are committed to applying a new development philosophy and creating a new development paradigm. In the past decade, China has contributed more than 30 percent of annual global growth. This year, the Chinese economy has maintained the momentum of recovery and growth. China enjoys several distinct advantages: a socialist market economy in systemic terms, a supersize market in terms of demand, a full-fledged industrial system in terms of supply, and abundant, high-caliber labor force and entrepreneurs in terms of human resources. The Chinese economy has strong resilience, tremendous potential and great vitality. The fundamentals sustaining China’s long-term growth will remain unchanged. The giant ship of the Chinese economy will continue to cleave waves and sail ahead.

China will remain an important opportunity for the world’s development. Our door is wide open to anyone who wants to engage in cooperation with us. As a supersize economy, China will remain firm in advancing high-standard opening-up. We will continue to expand market access, cut the negative list for foreign investment, and further open the modern services sector. We will steadily improve the business environment, provide national treatment to foreign-invested enterprises, foster a world-class, market-oriented business environment governed by a sound legal framework, and build a globally-oriented network of high-standard free trade areas. We will continue to advance ecological conservation, accelerate the building of a Beautiful China, actively and prudently move toward carbon peak and carbon neutrality, and pursue all-round green transition in economic and social development. Going forward, as it endeavors to achieve modernization for its more than 1.4 billion people, China will surely contribute even more to the global economy and provide even more opportunities for the global business community.

Ladies and Gentlemen,

Friends,

A formidable mission is a magnificent and glorious mission. As long as we work in unity and strengthen cooperation, we will not be intimidated by any risk or challenge on the way ahead, and we will surely steer the giant ship of human development to a brighter future!

Thank you.

[thisisabernieblog]

NATO wants to splinter Brazil for their involvement in BRICS, NYPD's continuing racism, Labor union tactic that benefited UPS workers: the 10 minute meeting, capitalism's frightening inefficiencies as France to spend 200 million euros to DESTROY wine as it becomes TOO cheap while Amazon destroys millions of products every year and the fight to save the chubby unicorn (the Northern white rhino)

leecamp.locals.com or leecamp.net to subscribe and watch.

[colitcomedia]

The BRICS Summit 2024 marked a significant shift in global financial strategies, focusing on reducing reliance on the US dollar. As BRICS nations explore alternatives, discussions centered on a blockchain payment system, a gold-backed currency, and their potential impact on the global financial system. This move towards de-dollarization signals a transformative shift for emerging economies, offering new avenues for trade relations within the BRICS alliance and beyond.

[workersolidarity]

BRICS Welcomes 6 New Members

[head-post]

BRICS grows, adding 13 new “partner countries”

Thirteen partner countries were admitted to BRICS earlier this month following the 16th BRICS Summit held in Kazan, Russia. The intergovernmental organisation, founded in 2009, now includes Algeria, Belarus, Bolivia, Cuba, Indonesia, Kazakhstan, Malaysia, Nigeria, Thailand, Turkey, Uganda, Uzbekistan and Vietnam as new partner countries.

Although these countries are not yet full members, the move marks an expansion of BRICS co-operation in trade, investment, development and infrastructure. The partner countries will co-operate in areas such as equitable resource allocation, development of alternative financial systems, trade in local currencies, and the possible establishment of a BRICS-led infrastructure development bank.

The economies added this month diversify BRICS, and each is important to the organisation in its own way. For example, Nigeria, Africa’s largest economy, offers BRICS access to a host of natural resources, including gas and oil.

Uzbekistan, rich in minerals, can also bring economic benefits to BRICS, as can Algeria with its close ties to Africa’s oil and gas sector.

With the addition of these 13 new countries, BRICS strengthens the foundation of a new economic order that is more balanced and equitable, South African President Cyril Ramaphosa said.

The organisation was founded to create a counterweight to the EU and the US. By coordinating the economies and policies of its members, and now 13 partner countries, BRICS aims to build a more inclusive world that benefits all corners of the globe, as well as reducing dependence on Western-driven financial systems.

It currently represents about 40 per cent of the world’s population and has a gross GDP of $26.6 billion, almost as much as the G7 countries.

Read more HERE