The Business Times
SUBSCRIBERS

Beijing encourages BRICS to make case for globalisation

Andrew Hammond
Published Wed, Jun 22, 2022 · 02:49 PM

PRESIDENTS and prime ministers of the Brics meet this Thursday (June 23) for their annual summit, yet little may be said about the big “elephant in the room”: the Ukraine conflict.

Russia’s invasion is, by far, the biggest talking point in world affairs this year, yet it will not be a major topic for the Brics, partly because of the differences within the bloc (Brazil, Russia, India, China, and South Africa) on this issue. To be sure none of the club has joined the growing list of Western sanctions against Moscow, but beyond this, there are key differences: for instance while China has been relatively supportive to Russia, India has maintained a more neutral stance, reflecting its continuing alliances too with the West.

The host of this year’s event, Chinese President Xi Jinping, wants to move beyond such intra-group spats, and focus on what the Brics have achieved so far, and develop a clear forward agenda, including expanding the club. This is why last month Beijing invited nine other countries to attend the group’s meetings: Saudi Arabia, Argentina, Kazakhstan, Egypt, the United Arab Emirates, Indonesia, Nigeria, Senegal, and Thailand. There is widespread speculation that at least some of these states, including potentially Saudi Arabia and Argentina, may seek to join the club on a permanent “Brics plus” basis.

READ MORE

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

Columns

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here