The BRICS alliance has extended invitations to 69 countries for the upcoming summit in South Africa in August. Notably, all African countries' heads of state have been invited as part of the summit, along with political leaders from various Global South bodies.
However, Western nations, including the U.S., U.K., Germany, and France, have not been invited.
French President Emmanuel
Macron expressed a desire to attend the BRICS summit, but this was met with
strong opposition from Russia and China. These countries suspect that France
aims to sabotage the summit and gain insight into its global plans. Belarus,
another country outside the Western bloc, also showed interest in joining the
BRICS alliance but did not receive an invitation.
If all the heads of state of
the 69 countries accept the invitation, it would be the biggest meeting under
one roof for BRICS. Sooklal confirmed that the summit will discuss “trading in
local currencies,” with the leaders who attend the meeting.
“We’ve never had such a large
outreach,” Sooklal stressed, indicating that a handful of countries could
accept trading in local currencies. “Countries want to have greater flexibility
and to be less dependent on the dollar,” he summed it up.
BRICS is an acronym for Brazil,
Russia, India, China, and South Africa. The bloc of five nations could jointly
decide about the expansion and growth into BRICS+ this year. Around 44
countries have expressed interest to join the alliance and end reliance on the
U.S. dollar.
In a related development
BRICS alliance turns ‘PRICS’ as
China wants Pakistan, angers India
The Indo-China border dispute
is escalating, leading to a surge of negative sentiments among the Indian
populace towards China. This creates a precarious situation for India's Modi
government, as it must navigate its relations with China within the BRICS
framework and also consider the implications of Pakistan's potential inclusion
in the alliance.
China is actively persuading
other developing nations, including Pakistan, to abandon the U.S. dollar in
favor of the Chinese Yuan for trade. Moreover, China is investing a substantial
$58 billion in a railroad project connecting to Pakistan, aiming to enhance
trade and reduce reliance on Western economies. Once completed, this railroad
will grant China direct access to Pakistan and other Asian markets for trade.
China's ambitious pursuit of
power and influence places India in a vulnerable position, as it appears that
the Communist country stands to gain more than the other BRICS nations. Some
argue that India would have little to lose if it decides to withdraw from the
BRICS alliance, given its robust economy and GDP of $3.5 trillion.
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