{"id":5408,"date":"2024-11-04T07:45:24","date_gmt":"2024-11-04T07:45:24","guid":{"rendered":"https:\/\/asadmirza.in\/?p=5408"},"modified":"2024-11-04T07:45:26","modified_gmt":"2024-11-04T07:45:26","slug":"brics-summit-an-antidote-to-the-west","status":"publish","type":"post","link":"https:\/\/asadmirza.in\/?p=5408","title":{"rendered":"BRICS Summit: An Antidote to the West?"},"content":{"rendered":"<div class=\"pvc_clear\"><\/div><p class=\"pvc_stats all \" data-element-id=\"5408\" style=\"\"><i class=\"pvc-stats-icon medium\" aria-hidden=\"true\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" version=\"1.0\" viewBox=\"0 0 502 315\" preserveAspectRatio=\"xMidYMid meet\"><g transform=\"translate(0,332) scale(0.1,-0.1)\" fill=\"\" stroke=\"none\"><path d=\"M2394 3279 l-29 -30 -3 -207 c-2 -182 0 -211 15 -242 39 -76 157 -76 196 0 15 31 17 60 15 243 l-3 209 -33 29 c-26 23 -41 29 -80 29 -41 0 -53 -5 -78 -31z\"\/><path d=\"M3085 3251 c-45 -19 -58 -50 -96 -229 -47 -217 -49 -260 -13 -295 52 -53 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c-553 -48 -1095 -270 -1585 -649 -135 -104 -459 -423 -483 -476 -23 -49 -22 -139 2 -186 73 -142 361 -457 571 -626 285 -228 642 -407 990 -497 242 -63 336 -73 660 -74 310 0 370 5 595 52 535 111 1045 392 1455 803 122 121 250 273 275 326 19 41 19 137 0 174 -41 79 -309 363 -465 492 -447 370 -946 591 -1479 653 -113 14 -422 18 -536 8z m395 -428 c171 -34 330 -124 456 -258 112 -119 167 -219 211 -378 27 -96 24 -300 -5 -401 -72 -255 -236 -447 -474 -557 -132 -62 -201 -76 -368 -76 -167 0 -236 14 -368 76 -213 98 -373 271 -451 485 -162 444 86 934 547 1084 153 49 292 57 452 25z m909 -232 c222 -123 408 -262 593 -441 76 -74 138 -139 138 -144 0 -16 -233 -242 -330 -319 -155 -123 -309 -223 -461 -299 l-81 -41 32 46 c18 26 49 83 70 128 143 306 141 649 -6 957 -25 52 -61 116 -79 142 l-34 47 45 -20 c26 -10 76 -36 113 -56z m-2057 25 c-40 -58 -105 -190 -130 -263 -110 -324 -59 -707 132 -981 25 -35 42 -64 37 -64 -19 0 -241 119 -326 174 -188 122 -406 314 -532 468 l-58 71 108 103 c185 178 428 349 672 473 66 33 121 60 123 61 2 0 -10 -19 -26 -42z\"\/><path d=\"M2375 1950 c-198 -44 -350 -190 -395 -379 -18 -76 -8 -221 19 -290 114 -284 457 -406 731 -260 98 52 188 154 231 260 27 69 37 214 19 290 -38 163 -166 304 -326 360 -67 23 -215 33 -279 19z\"\/><\/g><\/svg><\/i> &nbsp;104&nbsp;total views, &nbsp;2&nbsp;views today<\/p><div class=\"pvc_clear\"><\/div>\n<figure class=\"wp-container-2 wp-block-gallery-1 wp-block-gallery has-nested-images columns-default is-cropped\">\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" width=\"827\" height=\"1024\" data-id=\"5411\"  src=\"https:\/\/asadmirza.in\/wp-content\/uploads\/2024\/11\/e1-827x1024.jpg\" alt=\"\" class=\"wp-image-5411\" srcset=\"https:\/\/asadmirza.in\/wp-content\/uploads\/2024\/11\/e1-827x1024.jpg 827w, https:\/\/asadmirza.in\/wp-content\/uploads\/2024\/11\/e1-242x300.jpg 242w, https:\/\/asadmirza.in\/wp-content\/uploads\/2024\/11\/e1-768x951.jpg 768w, https:\/\/asadmirza.in\/wp-content\/uploads\/2024\/11\/e1.jpg 1080w\" sizes=\"(max-width: 827px) 100vw, 827px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" width=\"801\" height=\"1024\" data-id=\"5413\"  src=\"https:\/\/asadmirza.in\/wp-content\/uploads\/2024\/11\/e2-801x1024.jpg\" alt=\"\" class=\"wp-image-5413\" srcset=\"https:\/\/asadmirza.in\/wp-content\/uploads\/2024\/11\/e2-801x1024.jpg 801w, https:\/\/asadmirza.in\/wp-content\/uploads\/2024\/11\/e2-235x300.jpg 235w, https:\/\/asadmirza.in\/wp-content\/uploads\/2024\/11\/e2-768x982.jpg 768w, https:\/\/asadmirza.in\/wp-content\/uploads\/2024\/11\/e2.jpg 1080w\" sizes=\"(max-width: 801px) 100vw, 801px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" width=\"720\" height=\"1024\" data-id=\"5409\"  src=\"https:\/\/asadmirza.in\/wp-content\/uploads\/2024\/11\/e3-720x1024.jpg\" alt=\"\" class=\"wp-image-5409\" srcset=\"https:\/\/asadmirza.in\/wp-content\/uploads\/2024\/11\/e3-720x1024.jpg 720w, https:\/\/asadmirza.in\/wp-content\/uploads\/2024\/11\/e3-211x300.jpg 211w, https:\/\/asadmirza.in\/wp-content\/uploads\/2024\/11\/e3-768x1092.jpg 768w, https:\/\/asadmirza.in\/wp-content\/uploads\/2024\/11\/e3.jpg 1080w\" sizes=\"(max-width: 720px) 100vw, 720px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" width=\"940\" height=\"1024\" data-id=\"5410\"  src=\"https:\/\/asadmirza.in\/wp-content\/uploads\/2024\/11\/e4-940x1024.jpg\" alt=\"\" class=\"wp-image-5410\" srcset=\"https:\/\/asadmirza.in\/wp-content\/uploads\/2024\/11\/e4-940x1024.jpg 940w, https:\/\/asadmirza.in\/wp-content\/uploads\/2024\/11\/e4-276x300.jpg 276w, https:\/\/asadmirza.in\/wp-content\/uploads\/2024\/11\/e4-768x836.jpg 768w, https:\/\/asadmirza.in\/wp-content\/uploads\/2024\/11\/e4.jpg 1080w\" sizes=\"(max-width: 940px) 100vw, 940px\" \/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" width=\"911\" height=\"1024\" data-id=\"5412\"  src=\"https:\/\/asadmirza.in\/wp-content\/uploads\/2024\/11\/e5-911x1024.jpg\" alt=\"\" class=\"wp-image-5412\" srcset=\"https:\/\/asadmirza.in\/wp-content\/uploads\/2024\/11\/e5-911x1024.jpg 911w, https:\/\/asadmirza.in\/wp-content\/uploads\/2024\/11\/e5-267x300.jpg 267w, https:\/\/asadmirza.in\/wp-content\/uploads\/2024\/11\/e5-768x863.jpg 768w, https:\/\/asadmirza.in\/wp-content\/uploads\/2024\/11\/e5.jpg 1080w\" sizes=\"(max-width: 911px) 100vw, 911px\" \/><\/figure>\n<\/figure>\n\n\n\n<ul><li><a href=\"https:\/\/clarionindia.net\/brics-summit-an-antidote-to-the-west\/?amp=1\n\">https:\/\/clarionindia.net\/brics-summit-an-antidote-to-the-west\/?amp=1<\/a><\/li><li><a href=\"https:\/\/www.punjabtodaynews.com\/brics-summit-an-antidote-to-the-west\/\n\">https:\/\/www.punjabtodaynews.com\/brics-summit-an-antidote-to-the-west\/<\/a><\/li><li><\/li><\/ul>\n\n\n\n<p><strong>BRICS nations concluded their annual summit in the Russian city of Kazan last week, resolving to deepen economic ties<\/strong><\/p>\n\n\n\n<p><strong>Asad Mirza<\/strong><\/p>\n\n\n\n<p>THE BRICS group has become a major political force in the last two decades, building on its desire to create a counterweight to Western influence in global institutions. The group\u2019s expansion in 2023 increased its heft. After Iran, Saudi Arabia and the United Arab Emirates (UAE) joined it in 2023, the alliance that initially referred to Brazil, Russia, India, China and South Africa has gradually become a bigger body.&nbsp;<\/p>\n\n\n\n<p>At the BRICS closing session in the southwestern Russian city of Kazan Russian President Vladimir Putin said all countries joining the bloc \u201cshare similar aspirations and values and a vision of new democratic global order.\u201d<\/p>\n\n\n\n<p>The three-day summit, which ended on October 24, also provided a platform for member countries to discuss plans to deepen financial cooperation and develop alternatives to Western-dominated payment systems.<\/p>\n\n\n\n<p>At the same time, the summit also brought out new disagreements on issues such as Russia\u2019s invasion of Ukraine. Russia\u2019s 2024 leadership could intensify the bloc\u2019s anti-West focus, including attempts to edge out the US dollar \u2013 though experts feel that it may be an uphill task.<\/p>\n\n\n\n<p>Though there are assumptions that the bloc could undermine the Western-led international order, sceptics say its ambitions to create its own currency and develop a workable alternative to existing institutions face potentially insurmountable challenges.<\/p>\n\n\n\n<p>In fact, BRICS is not a formal organisation, but rather a loose bloc of non-Western economies that seek to build an alternative to what they see as the dominance of the Western viewpoint in major multilateral groupings, such as the World Bank, the Group of Seven (G7), and the UN Security Council.<\/p>\n\n\n\n<p>The group\u2019s 2024 expansion comes with a range of geopolitical implications. It represents growing economic and demographic heft: the ten BRICS countries now comprise more than a quarter of the global economy and almost half of the world\u2019s population. The group is poised to exert influence over the wars in the Gaza Strip and Ukraine, the shape of the global economic system, the competition between China and the West, and efforts to transition to clean energy.<\/p>\n\n\n\n<p>BRICS\u2019 thematic priorities are, firstly, to&nbsp;advocate for greater representation in global organisations. The group aims both to push for reform of existing institutions and to form negotiating blocs within those institutions.&nbsp;<\/p>\n\n\n\n<p>Secondly, coordinate a balanced economic policy. The 2008 global recession hit the BRICS countries hard, leading the group to emphasise economic coordination on issues such as tariff policy, export restrictions of critical resources, and investment.&nbsp;<\/p>\n\n\n\n<p>Thirdly and most ambitiously, work out a new global payment system to reduce reliance on the US dollar. Increasingly disgruntled over the domination of the dollar in global transactions, which exposes them to Western sanctions, BRICS leaders have long advocated for de-dollarisation in favour of increased trade in local currencies or even a potential common BRICS currency.<\/p>\n\n\n\n<p>And lastly, create an alternative finance system. The group\u2019s New Development Bank (NDB) and Contingent Reserve Arrangement (CRA) are meant to imitate the World Bank and International Monetary Fund (IMF), respectively. BRICS members hope that alternative lending institutions can invigorate South-South cooperation and reduce dependence on traditional funding sources.&nbsp;<\/p>\n\n\n\n<p>The BRICS countries have sought to reduce the primacy of the US dollar in international trade, primarily by increasing the use of their own currencies for trading, especially China\u2019s Renminbi. Other monetary proposals laid out earlier included founding a new cryptocurrency or using a combined basket of BRICS currencies.<\/p>\n\n\n\n<p>Meanwhile, the Western countries have largely downplayed the group\u2019s growth. White House National Security Advisor Jake Sullivan said Washington does not see BRICS as a geopolitical rival, while Treasury Secretary Janet Yellen has largely dismissed efforts to move away from the dollar. Similarly, German Foreign Minister Annalena Baerbock has downplayed growing ties between BRICS members.&nbsp;<\/p>\n\n\n\n<p>Still, some European policymakers have cautioned that the anti-West sentiment is growing more confrontational. They see the expansion as the result of a lacklustre Western response to low-income countries\u2019 needs. They say Western countries need to begin reforming financial institutions in earnest.<\/p>\n\n\n\n<p>Indeed, this year\u2019s Summit Declaration may offer little of substance. There were several bilateral meetings before and on the margins of the gathering that are more indicative of the direction of BRICS. Perhaps most importantly, India\u2019s Prime Minister Narendra Modi and China\u2019s President Xi Jinping held their first face-to-face discussion in five years.<\/p>\n\n\n\n<p>This is a remarkable change from just a few months ago, when tensions between New Delhi and Beijing were intense enough for Modi to cancel his participation in the summit of the Shanghai Cooperation Organisation in Astana, Kazakhstan. Yet, with a deal now reached over their countries\u2019 longstanding border dispute, the two most populous and, in terms of GDP, economically most powerful members of BRICS, have an opportunity to rebuild their fraught relations.<\/p>\n\n\n\n<p>A warming of relations between China and India could generate more momentum for BRICS to deliver on its ambitious agenda to develop, and ultimately implement, a vision for a new global order. Implicit in this would be a shift of leadership in BRICS from China and Russia to China and India, and with it, potentially a change from an anti-Western to a non-Western agenda.<\/p>\n\n\n\n<p>The summit also gave Putin the chance to push his own vision of BRICS as a counterpoint to the US-led West.<\/p>\n\n\n\n<p>But this may be a view shared in the global east \u2013 Russia, China, and Iran, as well as non-BRICS members North Korea, Cuba, and Venezuela. But many in the Global South \u2013 particularly India and Brazil \u2013 are unlikely to go all in with this agenda. They will focus on benefiting from their BRICS membership as much as possible while maintaining close ties with the West.<\/p>\n\n\n\n<p>India is the most significant player in BRICS when it comes to balancing between East and West. However, as the flailing expansion drive of the organisation indicates, there is also an internal battle in BRICS over its future direction. This, in turn, creates space and time for the West to exercise more positive and constructive influence in the ongoing process of reshaping the international order.<\/p>\n\n\n\n<p>The Global East may be beyond redemption, but there is still a massive opportunity to reengage within the Global South, led by India.<\/p>\n","protected":false},"excerpt":{"rendered":"<div class=\"pvc_clear\"><\/div>\n<p class=\"pvc_stats all \" data-element-id=\"5408\" style=\"\"><i class=\"pvc-stats-icon medium\" aria-hidden=\"true\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" version=\"1.0\" viewBox=\"0 0 502 315\" preserveAspectRatio=\"xMidYMid meet\"><g transform=\"translate(0,332) scale(0.1,-0.1)\" fill=\"\" stroke=\"none\"><path d=\"M2394 3279 l-29 -30 -3 -207 c-2 -182 0 -211 15 -242 39 -76 157 -76 196 0 15 31 17 60 15 243 l-3 209 -33 29 c-26 23 -41 29 -80 29 -41 0 -53 -5 -78 -31z\"\/><path d=\"M3085 3251 c-45 -19 -58 -50 -96 -229 -47 -217 -49 -260 -13 -295 52 -53 146 -42 177 20 16 31 87 366 87 410 0 70 -86 122 -155 94z\"\/><path d=\"M1751 3234 c-13 -9 -29 -31 -37 -50 -12 -29 -10 -49 21 -204 19 -94 39 -189 45 -210 14 -50 54 -80 110 -80 34 0 48 6 76 34 21 21 34 44 34 59 0 14 -18 113 -40 219 -37 178 -43 195 -70 221 -36 32 -101 37 -139 11z\"\/><path d=\"M1163 3073 c-36 -7 -73 -59 -73 -102 0 -56 133 -378 171 -413 34 -32 83 -37 129 -13 70 36 67 87 -16 290 -86 209 -89 214 -129 231 -35 14 -42 15 -82 7z\"\/><path d=\"M3689 3066 c-15 -9 -33 -30 -42 -48 -48 -103 -147 -355 -147 -375 0 -98 131 -148 192 -74 13 15 57 108 97 206 80 196 84 226 37 273 -30 30 -99 39 -137 18z\"\/><path d=\"M583 2784 c-38 -19 -67 -74 -58 -113 9 -42 211 -354 242 -373 16 -10 45 -18 66 -18 51 0 107 52 107 100 0 39 -1 41 -124 234 -80 126 -108 162 -133 173 -41 17 -61 16 -100 -3z\"\/><path d=\"M4250 2784 c-14 -9 -74 -91 -133 -183 -95 -150 -107 -173 -107 -213 0 -55 33 -94 87 -104 67 -13 90 8 211 198 130 202 137 225 78 284 -27 27 -42 34 -72 34 -22 0 -50 -8 -64 -16z\"\/><path d=\"M2275 2693 c-553 -48 -1095 -270 -1585 -649 -135 -104 -459 -423 -483 -476 -23 -49 -22 -139 2 -186 73 -142 361 -457 571 -626 285 -228 642 -407 990 -497 242 -63 336 -73 660 -74 310 0 370 5 595 52 535 111 1045 392 1455 803 122 121 250 273 275 326 19 41 19 137 0 174 -41 79 -309 363 -465 492 -447 370 -946 591 -1479 653 -113 14 -422 18 -536 8z m395 -428 c171 -34 330 -124 456 -258 112 -119 167 -219 211 -378 27 -96 24 -300 -5 -401 -72 -255 -236 -447 -474 -557 -132 -62 -201 -76 -368 -76 -167 0 -236 14 -368 76 -213 98 -373 271 -451 485 -162 444 86 934 547 1084 153 49 292 57 452 25z m909 -232 c222 -123 408 -262 593 -441 76 -74 138 -139 138 -144 0 -16 -233 -242 -330 -319 -155 -123 -309 -223 -461 -299 l-81 -41 32 46 c18 26 49 83 70 128 143 306 141 649 -6 957 -25 52 -61 116 -79 142 l-34 47 45 -20 c26 -10 76 -36 113 -56z m-2057 25 c-40 -58 -105 -190 -130 -263 -110 -324 -59 -707 132 -981 25 -35 42 -64 37 -64 -19 0 -241 119 -326 174 -188 122 -406 314 -532 468 l-58 71 108 103 c185 178 428 349 672 473 66 33 121 60 123 61 2 0 -10 -19 -26 -42z\"\/><path d=\"M2375 1950 c-198 -44 -350 -190 -395 -379 -18 -76 -8 -221 19 -290 114 -284 457 -406 731 -260 98 52 188 154 231 260 27 69 37 214 19 290 -38 163 -166 304 -326 360 -67 23 -215 33 -279 19z\"\/><\/g><\/svg><\/i> &nbsp;104&nbsp;total views, &nbsp;2&nbsp;views today<\/p>\n<div class=\"pvc_clear\"><\/div>\n<p>&nbsp;104&nbsp;total views, &nbsp;2&nbsp;views today https:\/\/clarionindia.net\/brics-summit-an-antidote-to-the-west\/?amp=1 https:\/\/www.punjabtodaynews.com\/brics-summit-an-antidote-to-the-west\/ BRICS nations concluded their annual summit in the Russian city of Kazan last week, resolving to deepen economic ties Asad Mirza THE BRICS group has become a major political force in the last two decades, building on its desire to create a counterweight to Western influence in global institutions. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[166],"tags":[144,147,139,145],"_links":{"self":[{"href":"https:\/\/asadmirza.in\/index.php?rest_route=\/wp\/v2\/posts\/5408"}],"collection":[{"href":"https:\/\/asadmirza.in\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/asadmirza.in\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/asadmirza.in\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/asadmirza.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5408"}],"version-history":[{"count":1,"href":"https:\/\/asadmirza.in\/index.php?rest_route=\/wp\/v2\/posts\/5408\/revisions"}],"predecessor-version":[{"id":5414,"href":"https:\/\/asadmirza.in\/index.php?rest_route=\/wp\/v2\/posts\/5408\/revisions\/5414"}],"wp:attachment":[{"href":"https:\/\/asadmirza.in\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5408"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/asadmirza.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5408"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/asadmirza.in\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5408"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}