Brazil, China presidents arrive Johannesburg for BRICS summit

The heads of Brazil, China, India and South Africa plus Russia's top diplomat will gather from Tuesday to Thursday this week under the theme "BRICS and Africa", South Africa's Foreign Minister Naledi Pandor said this month.
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[@paultsjan6047]

The 15th BRICS Summit in Johannesburg, South Africa reflects the increasing expectations being placed on the BRICS cooperation mechanism by more and more countries. The theme of this summit is "BRICS and Africa: Partnership for Mutually Accelerated Growth, Sustainable Development and Inclusive Multilateralism." despite uncertain international environment have becomes the appeal and centripetal force of concepts such as openness, inclusivity, cooperation, and win-win. More than 40 countries have expressed desire to join the BRICS mechanism and over 60 global leaders and political heavyweights have been invited to attend. The Western media has been hyping up the China-India discord by fabricating rumors which are "baseless attempts to undermine the event" and bringing the "China threat theory" that they have been propagating into the context of BRICS countries, attempting to portray the BRICS mechanism as a geopolitical rival to the Group of Seven (G7). After 17 years, the BRICS is becoming has becomes even stronger and the BRICS’s mechanism itself has developed well and has adapted to and satisfied the needs and calls of the times. Many countries are disappointed with the G7 global governance system dominated by the US and the West and the serious shortcomings of the US-led global order. Dissatisfaction with the US-led global order was exacerbated by the degradation of US hegemony, weaponizing US dollar and the G7 dictating the global economic policy. The US global reserve currency and the SWIFT communication system for banks is used to impose sanctions and siphoned $600 billion of Russia sovereign wealth and $7 billion of Afghanistan foreign reserves by the US with impunity. Developing countries is eager to curb dependence on the US dollar for foreign trade and to reduce dependence on the US currency. The establishment and development of the BRICS cooperation mechanism is proof of the awakening of independent consciousness and the strengthening of autonomy of non-Western countries to pave a new path for the emerging economies of the Global South. The member states of the BRICS, the emerging market group of Brazil, Russia, India, China and South Africa, are widely anticipated to deepen financial cooperation in an upcoming gathering, in particular in the payment and currency sectors to counterbalance the hegemony of the US dollar, which has left emerging economies and developing countries struggling financially. The BRICS members and the increasing willingness of more countries to join the bloc, the process of de-dollarization, which has become an irreversible trend, will be accelerated. Since its establishment, the multilateral cooperation mechanism of BRICS has provided development tools based on partnership and joint growth, in comparison with the Western model that pursues its own interests. In the upcoming BRICS 2023 summit scheduled from August 22 to 24 in South Africa, discussion of financial cooperation including the use of more local currencies for trade settlements, exploration of a parallel payment system to counter the dollar's hegemony and a common currency is highly anticipated. The New Development Bank, created by the BRICS in 2015, has set a target to increase local currency lending from about 22 percent to 30 percent by 2026. China and Russia have taken a leading role in promoting local currency settlement. More than 80 percent of trade settlements between Russia and China have been conducted in Russian rubles and the yuan. There has been an ongoing discussion within the BRICS to accelerate the rollout of a payment system, and the need became particularly urgent after the US removed some Russian banks from the SWIFT global interbank payments system and forced other economies to pay for its economic problems with sizeable financial tightening. The BRICS members could move to establish a version of their own monetary fund on the basis of the existing BRICS emergency reserve arrangement mechanism. Although it's not possible to shake the dominant status of the dollar in global trade and settlement at the current phase, more countries are seeking to reduce reliance on the currency. Saudi Arabia, Iran, the United Arab Emirates and Venezuela having expressed interest or applied to join the BRICS bloc. The chance of de-dollarization in global oil trading will be much higher and US dollar will no longer be the dominant currency of choice. President Ramaphosa said more than 40 countries have expressed interest in joining BRICS. The BRICS members represent nearly 42 percent of the global population and account for about 26 percent of the global economy.

[@BaumerPaulGefreiter]

For your info, Russia has invaded the sovereign country of Ukraine, a UN member, and it's because of this that it has been subjected to international sanctions.

[@nasirmp1409]

Brasilien💖💖💖

[@Progressive_Wave]

Brasil

[@nasirmp1409]

@@Progressive_Wave hej, tack tack🙏🙏🙏💖💖💖 Brasil💖💖💖

[@nikavishneva7469]

O presidente do Comitê Europeu de desenvolvimento da OTAN, Gunther Felinger, ameaçou que a aliança "desmantelaria" o Brasil em cinco países separados se o país continuasse a apoiar a Rússia, o Irã e a China.VOCÊ SABE DISSO!?

[@francesconiccolai6592]

BRICS.....è la forza emergente....e Per numero di Abitanti Totali Chiaramente Vincente 😊

[@amenemhat3290]

Vous croyez que les chinois vont considérer les autres comme des égaux ?

[@Shining237]

Best Wishes to BRICS for Peace 🕊️ and Economic Prosperity 👍💞

[@amenemhat3290]

La paix avec des chinois et des russes qui ne pensent qu'à écraser leurs voisins ?

[@jascam1]

With the BRICS ever expanding they’re going to need another organizational name , such as The Global Federation of Nations( TGFN) it has a nice ring.

[@datospora5770]

G7 is to grow to G10 adding Australia, S Korea & Mexico by 2027; to G15 by 2030 adding Taiwan, Thailand, Poland, Pakistan, Argentina, Indonesia, etc. Continue to lead!

[@Hojxjm]

I love the president of brics ❤

[@nasirmp1409]

Sydafrika💖💖💖

[@damocles8417]

Where’s Putin? I guess it’s only the BICS summit.

[@rikardjohansson1602]

BILDERAPRESIDETRAPPORTBILDERATALETBILDERARAPPORTBILDERA

[@ahmadsyidi515]

🇨🇳✊🇷🇺🇧🇷💪

[@amenemhat3290]

Cela ne vous a pas suffit tous les morts des communismes russe et chinois ?

[@RMStudioImphal]

India is missing India🇮🇳

[@siewkonsum7291]

Russia, China, North Korea & United Africa should send a strong warning signal to the *US Regime,* Japan, South Korea and Australia not to "play fire in waters" around in the North Pacific and South China Seas. 😊

[@chadgaming8071]

you from china or North Korea I guess

[@shane5898]

Haha OK there knockoff NATO. Know your role and don't punch way above your weight class.

[@amenemhat3290]

Se plier aux communistes ?

[@1001Balance]

😂😂😂😂

[@water9097]

North Korea 😂😂

[@catherineboue]

ALLÉLUIA !

[@TrabalhoRemoto-ke1hm]

🇧🇷 Brazil above everything and below nothing. 5 centuries as a nation, in the 22nd century we will be the greatest nation on Planet Earth, future generations will contemplate. Palestinian freedom. ✋🏻

[@nikavishneva7469]

O presidente do Comitê Europeu de desenvolvimento da OTAN, Gunther Felinger, ameaçou que a aliança "desmantelaria" o Brasil em cinco países separados se o país continuasse a apoiar a Rússia, o Irã e a China.VOCÊ SABE DISSO!?

[@renatogasperin9285]

Cancellate l'america

[@PoonamKumari-be3sm]

Nitish Kumar's son has no political history, neither of running the government, nor has he ever contested college elections, nor does his son have any political history of being a ward councillor. If he directly contests for Chief Minister, then what will happen to the public?

[@nasirmp1409]

Lula da Silva💖💖💖

[@ltsananse]

BRICS IS BACK

[@ibrahimabduba9228]

Welcomed

[@Alejandrocasabranca]

Venham todos pro Brasil precisamos de imigrantes temos milhões de postos de trabalho 🇧🇷😎

[@nikavishneva7469]

O presidente do Comitê Europeu de desenvolvimento da OTAN, Gunther Felinger, ameaçou que a aliança "desmantelaria" o Brasil em cinco países separados se o país continuasse a apoiar a Rússia, o Irã e a China.VOCÊ SABE DISSO!?

[@1001Balance]

Democratic leaders bring their wives along. Dictators come alone😂😂😂

[@elisabethmanrique7389]

❤❤❤❤❤❤❤

[@nasirmp1409]

Cyril Ramaphosa💖💖💖

[@harounsamadi2527]

Great ❤ Good luck 🤞 😊

[@nasirmp1409]

Afrika💖💖💖