... 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,...
... pan-continental platforms in Eurasia, Africa and Latin America into one common platform that would cover the bulk of the developing world with important implications for the future evolution in 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 ...
... to test the traditionally friendly relations between Russia and South Africa. The events in Ukraine have acquired a wide international resonance, with many nations publicly discussing the hostilities. South Africa, as a projected continental leader, BRICS member and the only full-fledged African participant to the Group of 20, could not stand aside, having to formulate an official stance towards the Ukrainian crisis.
South African official position
Andrey Kortunov:
Restoration, Reformation, Revolution?...
The new geopolitical realities recalibrate the agenda for BRICS, making certain initiatives in finance or food security urgent for all member countries
The dialectics of any association’s progressive evolution entails periods of growth, agenda expansion, predominance of centripetal forces, crisis passing,...
If China’s vision of BRICS+ provides the broadest horizontal span of the Global South, Russia’s vision of BRICS+ prioritizes the depth and alignment of integrating BRICS states’ priority regional projects
Amid an unprecedented spike in global geopolitical risks, the ...
... platforms could be created on the basis of existing arrangements and economic blocs — in the case of G20 there could be a case for creating a regional R20 composed of the regional integration blocs where G20 countries are members. Similarly, for the BRICS, a BRICS+ format that brings together regional integration arrangements where BRICS economies are members provides for smaller emerging markets to deliver their contribution to the process of economic integration in the Global South.
Source:
Valdai....
... the possibility of using Chinese Yuan for settlements in lieu of Saudi’s oil deliveries to China. Back in 2017 the Valdai Club advanced
the R5 initiative
that was meant to bolster financial settlements and transactions in the national currencies of BRICS members.
An extension of this initiative was the R5+ concept that involved the extension of the use of national currencies not only to BRICS members but also to the regional partners in regional integration arrangements and the respective regional ...
The regional BRICS+ format is the only feasible platform for economic integration alliances to be finally launched among the BRICS countries after an extended period of limited economic advances in the sphere of common economic integration
The regional BRICS+ format ...
... modernization for the developing economies reside in greater economic integration, development of human capital and digitalization. For all leading developing economies there is a tremendous scope for higher growth via reducing cross-regional inequality (the BRICS economies exhibit some of the highest levels of cross-regional inequality in the world), boosting housing development as well as more broadly the services and the consumer sectors of the economy.
Another driver for elevating growth in developing ...
Barriers preventing the wider use of BRICS national currencies in trade include currency swap mechanisms and BRICS exporters' preference not to use national currencies
This article explores systemic and market barriers preventing the wider use of BRICS national currencies in trade, including ...
