Poging GOUD - Vrij
BRICS showed it's little more than a meaningless acronym
Mint Mumbai
|August 29, 2023
Its expansion can't hide how hollow this grouping has turned out
The 15th summit of BRICS countries, which was held in South Africa, received unprecedented international attention. Some commentators even invoked the Bandung conference of 1955, where leaders of India, China, Indonesia, Egypt and Yugoslavia launched the non-aligned movement (NAM). It seemed as though another generation of leaders, this time from Brazil, Russia, India, China and South Africa, were building an alternative to the US-dominated global order.
As it happened, their doings and sayings ranged from the semi-farcical to the meaningless. According to a leading South African news website, Indian Prime Minister Narendra Modi refused to leave his aircraft on arrival in South Africa because the host, President Cyril Ramaphosa, wasn’t at the airport to welcome him. China’s Xi Jinping inexplicably failed to deliver a scheduled speech at an opening event where the other leaders spoke, including Russian President Vladimir Putin on video link.
Putin, who didn’t travel due to fear of arrest for war crimes, unsurprisingly blamed the West for his war in Ukraine. Xi’s speech decried a country, unnamed but recognizable, that is “obsessed with maintaining its hegemony" and obstructing China’s rise. Much agitated talk, notably from President Luiz Inácio Lula da Silva of Brazil, of de-dollarization and an alternative BRICS currency came to nothing.
Dit verhaal komt uit de August 29, 2023-editie van Mint Mumbai.
Abonneer u op Magzter GOLD voor toegang tot duizenden zorgvuldig samengestelde premiumverhalen en meer dan 9000 tijdschriften en kranten.
Bent u al abonnee? Aanmelden
MEER VERHALEN VAN Mint Mumbai
Mint Mumbai
BYD bursts into top 5 of India's EV firms
In the back of an almost 80% surge in sales this year so far, Chinese carmaker BYD has jumped to the fifth spot in India's electric vehicle (EV) pecking order and is revving for more.
2 mins
December 02, 2025
Mint Mumbai
Mandatory govt app on phones may spur industry pushback
A push by the Centre to phone-based curb scams by mandating a government app on every smartphone in circulation is likely to be opposed by the world's largest handset makers including Apple, Google, Samsung and even industry bodies, according to multiple executives Mint spoke with.
3 mins
December 02, 2025
Mint Mumbai
India's CAD moderates in Q2
India’s current account deficit (CAD) moderated in the July-to-September quarter on the back of a lower merchandise trade deficit, the Reserve Bank of India said on Monday.
1 mins
December 02, 2025
Mint Mumbai
GST reset riddle
India’s latest data on goods and services tax (GST) collections was keenly awaited as a signal of the impact of midyear rate cuts.
1 min
December 02, 2025
Mint Mumbai
MEGA BANK MERGER: WILL IT AMPLIFY RISK?
The government is reportedly preparing for another round of public sector bank (PSB) consolidation, five years after the last major merger exercise brought the number of state-owned lenders down to 12 from 27.
3 mins
December 02, 2025
Mint Mumbai
Anil Ambani moves SC over fraud tag
Industrialist Anil Ambani has moved the Supreme Court challenging an order of the Bombay High Court which upheld the State Bank of India’s (SBI) decision classifying his and Reliance Communications’ accounts as fraud.
1 min
December 02, 2025
Mint Mumbai
Mehli Mistry quits Ratan Tata’s Small Animal Hospital
Tata Trusts’ former trustee and late Ratan Tata’s close confidant, Mehli Mistry, has resigned from the board of his friend's cherished project, Small Animal Hospital Trust, which claims to have become India’s largest specialty hospital for pet animals.
1 mins
December 02, 2025
Mint Mumbai
UK lawmaker Tulip Siddiq sentenced in Bangladesh graft case
Bangladesh court sentenced British lawmaker and former minister Tulip Siddiq in absentia to two years in jail on Monday in a corruption case involving the alleged illegal allocation of a plot of land, prosecutors said.
1 min
December 02, 2025
Mint Mumbai
Rupee at record low, no US deal drags
The rupee slid to a record low on Monday, pressured by maturing non-deliverable forward positions alongside a persistent bearish pall on the currency as India remains the among the few major economies without a trade deal with the US.
1 min
December 02, 2025
Mint Mumbai
KOCHI'S BOATS CHART A NATIONAL COURSE
India wants to modernize its ancient waterways for mass transit. Can it be a game changer?
8 mins
December 02, 2025
Translate
Change font size

