Explained: How Chinese Economy Growth is Linked with BRICS Expansion?

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It is evident that China and Russia are lobbying for expansion of BRICS membership to boost their global influence, whereas India and Brazil have apprehension that expansion on the recommendation will dilute their influence and also bloc will become China-dominated therefore argued that new members should be admitted transparently and based on a consensus among existing members.

Chandigarh (ABC Live): The BRICS Sumit 2023 held Sandton Convention Centre in South Africa decided to admit six new members namely Argentina, Ethiopia, Iran, Saudi Arabia, Egypt and the UAE.

South Africa's BRICS ambassador, Anil Sooklal, confirmed that Indonesia, Saudi Arabia, UAE, Iran, Argentina, Cuba, Nigeria, Venezuela, Thailand, and Vietnam were among the countries seeking to join the BRICS collective.

Further Anil informed that 22 countries have formally approached BRICS countries to become full members.

It is evident that China and Russia are lobbying for expansion of BRICS membership to boost their global influence, whereas India and Brazil have apprehension that expansion on the recommendation will dilute their influence and  also bloc will become China-dominated therefore argued that new members should be admitted transparently and based on a consensus among existing members.

In BRICS summits there is a diplomatic tussle between China-Russia and India and Brazil to keep the independent character of BRICS rather than a Sino-Russian-led anti-western bloc.

Today geopolitics is changing rapidly therefore every countries are keeping cards close to their chests fearing that they could land on the wrong side of US sanctions at some point and would like a hedge.

Beijing wants to take advantage of this fear and endorsing “de-dollarization”, which may be the reasons behind Saudi and Emirati participation and is one of the most significant elements of the BRICS enlargement. 

The Chinese economy facing impacts of the US-China trade war has compelled Xi Jinping to speak openly against US led Western hegemony and trying to establish China as leader of  the Global South through BRICS and SCO. 

Contrary to China’s claim for the Global South leadership, India is nicely pitching for Global South cooperation with tags of a fastest growing economy and futuristic technologies based society. 

Beijing’s hope is that in the decades to come, the G7 will represent a shrunken share of global GDP and global power, and that it can position itself as the leader of an ascendant Global South. Yet this was also the first BRICS summit at which Xi had to persuade his audience that the Chinese economy could be expected to continue its upward trajectory. He has always been able to benefit from the perception that China’s economic rise was unstoppable. The backdrop of this meeting was one of growing fear that he is presiding over a period of relative stagnation.  

To Read complete Report on BRICS 2023 send request email to abcliveindia@gmail.com 

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