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Despite boasting about 20-odd countries wanting to join, the five BRICS member countries themselves don’t all agree that expansion would be a good idea.
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The expansion of BRICS has been the main issue at the meeting of the bloc’s foreign ministers in Cape Town last week. The meeting included a Friends of BRICS component where 13 other nations joined the five BRICS member nations either in person or by video.
The problem is that the five BRICS members themselves are not united about the merits of expanding membership, let alone the criteria for accepting applicants. Official sources have told Daily Maverick that while China is enthusiastic about expanding membership and SA and Russia are keen, Brazil and especially India are “dead against.”
A large part of the reason for their opposition is that expanding membership would dilute their relative importance in the bloc. But there are also concerns about the criteria for admitting new members. BRICS officials have said that one of these would be to establish common BRICS values. But what would those be?
Another topic of discussion at the foreign ministers’ meeting is the need for BRICS countries to conduct trade and financial transactions in their own currencies rather than the US dollar. Pandor said this would help reduce the vulnerability of countries to US sanctions.
There has also been a wider discussion about the BRICS countries establishing their own currency to further reduce their dependence on the dollar.
However, SA’s “sherpa” on BRICS – the official in charge of this year’s summit – insisted that “It’s never been a topic amongst BRICS countries including amongst their finance ministers, we have never spoken about de-dollarisation.
Read the full article published by Daily Maverick HERE.
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Categories: Breaking News, World News
“A large part of the reason for their opposition is that expanding membership would dilute their relative importance in the bloc”
No. They don’t want the fascists in the west to corrupt it like they do to everything they touch.
Russia’s Net Public Debt Falls to Zero
https://www.themoscowtimes.com/2019/09/11/russias-net-public-debt-falls-to-zero-a67238
Amongst the first things that Putin did when he came to power in 2000 was pay off all Russia’s debt to the International Monetary Fund (IMF) early.
Oliver Stone Goes “South of the Border’
https://m.youtube.com/watch?v=-7IXo2D8LII
Russia’s Net Public Debt Falls to Zero
https://www.themoscowtimes.com/2019/09/11/russias-net-public-debt-falls-to-zero-a67238
Amongst the first things that Putin did when he came to power in 2000 was pay off all Russia’s debt to the International Monetary Fund (IMF) early.
Oliver Stone Goes “South of the Border’
https://m.youtube.com/watch?v=-7IXo2D8LII
The BRICS need to form a honest system let people and governments prove to be truly good for businesses and people.
The US Government will never stop trying to infiltrate and destroy the BRICS so caution must be taken.
Russia’s Net Public Debt Falls to Zero
https://www.themoscowtimes.com/2019/09/11/russias-net-public-debt-falls-to-zero-a67238
Amongst the first things that Putin did when he came to power in 2000 was pay off all Russia’s debt to the International Monetary Fund (IMF) early.
Oliver Stone Goes “South of the Border’
https://m.youtube.com/watch?v=-7IXo2D8LII
Hi Brad, do you believe there is an honest global system?
There should be no global system running a bloc or group of countries – whether it’s called BRICS or NATO it is a take over and will end the same way for the people.
Each country should be sovereign with politicians who govern on behalf of the citizens and are accountable to the citizens. The world should be made up of sovereign nations who collaborate.
We’ve had enough of globalist organisations, don’t you think?
https://panatimes.com/india-they-are-taller-than-us-only-because-we-got-down-on-our-knees-until-we-stand-up
India: “They are taller than us only because we got down on our knees. Until we stand up.”
Will the new BRICS currency, backed by the natural resource wealth of Brazil, Russia, India, China, South Africa (and potentially others) make this nearly 100-year-old cartoon come into fruition?
https://panatimes.com/india-they-are-taller-than-us-only-because-we-got-down-on-our-knees-until-we-stand-up
India: “They are taller than us only because we got down on our knees. Until we stand up.”
Will the new BRICS currency, backed by the natural resource wealth of Brazil, Russia, India, China, South Africa (and potentially others) make this nearly 100-year-old cartoon come into fruition?
Why don’t Australia leave the Bretton Woods cartel and simply reregulate the banking and produce its own credit rather than relying on the BIS etc.
Fund our own infrastructure like the WW1, ANL Line, East West Railway etc with little or no cost to the taxpayer. Read the story of the Commonwealth Bank for details which will remove us from the globalist bankers which will regain much of our lost sovereignty.