BRICS

Brics talks end without joint statement, exposing divisions over war in Iran

Iran has struck the UAE with missiles and drones several times since the war began on Feb 28

China President Xi Jinping (right) and India Prime Minister Narendra Modi. Their countries remain at odds over border issues and Brics' strategic direction.

Brics+ wall has growing Middle East cracks

At the upcoming Brics Foreign Ministers meeting, New Delhi will seek to shift the bloc towards greater geoeconomic focus

Driving the impasse is the fact that multiple members of the bloc are on different sides of the conflict, making any hard consensus difficult to wrangle.

Iran war shows limits of Brics as India pushed to choose sides

The group has failed to take a position on the war

The RBI has publicly expressed interest in linking India’s digital rupee with other nations’ CBDCs to expedite cross-border transactions and bolster its currency’s global usage.

India’s central bank proposes linking Brics’ digital currencies: sources

US President Donald Trump has previously said the bloc alliance is “anti-American” and he threatened to impose tariffs on its members

Brics nations, including India, are pushing ever-more trade and financing into the rupee, rouble, renminbi, real and rand.
INSIGHTS FROM CFA SOCIETY SINGAPORE

The ‘Rs’ challenging the US dollar: rupee, rouble, renminbi, real and rand

A new, more fragmented monetary order is emerging

Membership in the New Development Bank aligns Indonesia with a strategic partner whose footprint in the archipelago is already enormous.

Indonesia’s US$1 billion bet on the Global South

If Jakarta goes to the New Development Bank primarily for cheap loans, it could find itself repeating the very vulnerabilities it seeks to escape

Indonesian President Prabowo Subianto has also sought a higher profile for his country, which maintains a non-aligned foreign policy stance.

Indonesia assigns US$1 billion to Brics-led New Development Bank

The bloc also counts Egypt and the United Arab Emirates as members

US President Donald Trump has threatened harsher duties on countries accused of rerouting Chinese goods.

Tariff tracker: Clock’s up and where Asean countries landed

[SINGAPORE, JAKARTA, KUALA LUMPUR, HO CHI MINH] After much blood and sweat by South-east Asian policymakers in their talks with Washington to soften the sharp blow of US President Donald Trump’s steep...

Russia's President Vladimir Putin attends an extraordinary virtual summit of the Brics group of nations at the initiative of Brazil’s President Luiz Inacio Lula da Silva.

Brics leaders denounce protectionism, tariff ‘blackmail’

[BRASÍLIA] Leaders of the 11-member Brics bloc railed against economic protectionism and “tariff blackmail” during a virtual meeting on Monday (Sep 8) held amid a damaging trade war with US President ...