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Free AccessXi To Propose Alternate Global Order At BRICS Summit
Chinese President Xi Jinping is expected to use the BRICS summit this week to push an alternate to the US-led global order, according to Indian officials quoted by Bloomberg.
- The virtual BRICS event is being hosted by Beijing and will take place throughout this week, with the flagship event taking place on Thursday.
- The summit will bring together President Xi of China, Russian President Vladimir Putin, Indian Prime Minister Narendra Modi, South Africa’s Cyril Ramaphosa, and Brazil’s Jair Bolsonaro as the West grows increasingly concerned by the deepening relationship between Putin and Xi.
- According to Bloomberg, however, Xi is likely to expect the same obstinance from Modi that US President Joe Biden and his Secretary of State Antony Blinken experienced earlier this year when trying to recruit India into an alliance opposed to the Russian invasion of Ukraine. Delhi's mistrust of Beijing is likely to continue to present an obstacle to Beijing's intentions of developing BRICS as a political organisation.
- Bloomberg: "Indian negotiators will look to ensure any joint statement out of the summit is neutral and prevent any attempts by China and Russia to use the summit to score a propaganda victory against the US and its allies, the officials said. Modi’s government will also seek to delay China’s effort to expand the BRICS grouping by pushing the organization to decide on criteria for adding new members."
- The BRICS schedule can be reviewed here: http://brics2022.mfa.gov.cn/eng/zg2022/EC2022/
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.