Putin; “The development of BRICS, towards a multi-polar world is not without problems”.
During the ongoing BRICS meeting in New Delhi, India, there were calls for peace, investments in the future and challenges directed at the West.
According to Russian President Vladimir Putin, other countries are trying to hold back the global south. He views the world as divided between residents of a “blooming garden and jungle dwellers”. This refers to a previous controversial statement by the Russian president.
President Xi Jinping, attends BRICS summit in India to improve ties with President Modi
The Chinese leader is making his first visit to the neighboring country in seven years as both leaders try to move beyond their geopolitical rivalry and vie for leadership in the Global South.
Iran, Saudi Arabia, and the United Arab Emirates sent representatives to the summit. The three nations are warring parties in the US-Iran conflict. On Saturday, Iran said on X that Masoud Pezeshkian met Sheikh Khaled bin Mohamed bin Zayed Al Nahyan.
What do these countries want to achieve through their cooperation in BRICS? Their strength is that the countries together have 40% of the world’s population and produced around 25% of global GDP.
The countries want to jointly launch a “BRICS Dollar”, but it is not yet official from what date. This new currency will therefore compete against the USD.
What will happen to the world economy in the future is difficult to predict. However, it can be a positive concept in that competitiveness can result in lower export/import prices.
I will report back when the final results from the meeting in India are compiled.
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