... Argentina and Iran in the union, despite all the well-known problems facing the economies of these countries.
The aggravation of contradictions between China and India, and along the China-Brazil line, has also led to a slowdown in active work in the BRICS. The rise of China, securing for it the role of the “main sponsor” of the BRICS (primarily as the main founder of the New Development Bank) presents a kind of challenge for Beijing, since the line between leadership and dominance, as the experience of other associations ...
... respects, from economically and politically to technologically and militarily.
Even before the outbreak of the
“hybrid war,”
China had overtaken Germany not only as Russia’s principal trading partner, but also as the leading exporter of machinery and ... ... more important than one in Vienna.
There needs to be an audit of potential economic and other opportunities for Russia in the BRICS countries, and a plan to work on them. Apart from economics, student exchange programs should be expanded, and Russian tourism ...
... effect” in the process of economic cooperation and can set off a new process of globalization that connects regional arrangements in the developed and the developing world, writes Valdai Club Programme Director
Yaroslav Lissovolik
.
The main hallmark of China’s chairmanship in the BRICS grouping in 2022 has been the unveiling of plans to institutionalize the BRICS+ format and to explore the possibilities of expanding the core of the BRICS bloc. The current debate regarding the future trajectories of the BRICS+ format centers on ...
... the main trajectories of the evolution of the BRICS+ framework will be – thus far China appears to have advanced a multi-track approach that targets maximum scope and diversity in the operation of the BRICS-plus paradigm.
One of the novelties of China’s BRICS chairmanship in 2022 has been the launching of the extended BRICS+ meeting at the level of Ministers of Foreign Affairs that apart from the core BRICS countries also included representatives from Egypt, Nigeria, Senegal in Africa, Argentina from ...
... India hopes to serve as a bridge between them as well as a balancing force within each against their most radical elements.
Managing Bi-Multipolarity
It is for this reason that India has sought to play leading roles in multilateral platforms the Quad, BRICS, and the SCO. The first one serves as its means for balancing China’s rise in what India hopes will be a friendly, gentle, and non-hostile way compared to the new AUKUS alliance’s non-friendly, harsh, and hostile one. BRICS and the SCO, meanwhile, are complementary platforms for reforming the international system ...
... global governance. On the other hand, the issue of the BRICS expansion that emerged in May 2022 suggests that rather than the aggregation of regional integration groups of the Global South under the banner of BRICS+ a different track is entertained by China and its BRICS partners that targets increasing the membership of the core of the Global South.
Hence, the current dilemma of the Global South is the following: to prioritize the expansion in the core, or to place the emphasis on creating a horizontal network ...
... logistical, and other mechanisms alternative to those of the West is actively promoted.
The
second scenario
is the increasingly dominant role of China, the growing dependence of other countries on it, especially of Russia, and the transformation of BRICS into a mutual aid fund, where China will support its partner countries through the New Development Bank and other instruments, while pushing its own agenda and interests. This scenario is already, if partially, the case. It is no secret that access to additional resources of the NDB ...
... weight in their respective regions that may also increasingly be involved in R5+ financial transactions.
This year the R5+ initiative should be underpinned by the BRICS+ platform launched by China in 2017 and expected to be rekindled this year during China’s BRICS Chairmanship. The BRICS+ initiative has the potential to expand the scope for using national currencies via strengthening the trade and investment cooperation between the BRICS economies and their regional partners. An important role in the nexus ...
... relevance of a regional approach that prioritizes greater cooperation between regional integration arrangements where BRICS economies are members as well as their respective regional development institutions.
What happened in the span of the 5 years between China’s chairmanship in BRICS in 2017 and 2022? It appears that a lot of the developments in the BRICS universe were associated with the advancement of regional initiatives:
The launching of the RCEP project led by China and the ASEAN economies
The launching of the African Continental ...
... innovation among the advanced economies in the preceding decades. In this respect, a closer economic partnership between India and China would redound significantly to development areas such as Eurasian connectivity, the growth in the regional partners of the ... ... growth. One of the more advanced companies in this area is Softline, a Russian IT-company that is targeting greater expansion in BRICS+ markets. Earlier this year the company acquired 95% of the Indian IT company Embee Software, while in 2016 it acquired ...
