BRICS: News, Updates and Discussion

[shaktishivashakti]

Dont get why some people believe that's a propaganda and what not. Those countries asked with many others to become member of BRICS and the goup decided to give full membership to those 6 countries. It's not only Modi's tweet, it has also been formally announced by the current chair of the BRICS as an official outcome of their presidency (the President of SA).
It's no different than when India and Pak became a full member of SCO. Our membership has been accepted and announced and then we had a seat at the next plenary session of the SCO.

 

[Indx TechStyle]

now it also spells "Isis breac u" (Isis break you) or "Sisi breac u". oops missed an e. maybe eu not u.

with every addition "your" club is more black and white chi ki catholic Islamic Tao and less Hindu orange.

It will continue to get called BRICS only in name of founding members who are far more powerful already than countries who are laterally joining. Russia, China & India Wil have a say over others.

Community Note has been added to all these tweets now.

BRICS association has sent just an invite to all these countries. None of these countries have accepted the invite or joined yet.

So, hold your horses and don't get overjoyed yet.

Community note has been added by fired jacks. Invitation was sent to countries which had applied for joining.

 

[cyclops]

Keeping Turkey and Pakistan out should be top priority.

 

[tsunami]

On future agenda
24th August, 2023 BRICS #Dedollarisation updates from the #BRICSSummit2023 #Johannesburg Declaration (XV BRICS Summit)

1. We task our Finance Ministers and/or Central Bank Governors, as appropriate, to consider the issue of local currencies, payment instruments and platforms and report back to us by the next Summit.

2. We stress the importance of encouraging the use of local currencies in international trade and financial transactions between BRICS as well as their trading partners. We also encourage strengthening of correspondent banking networks between the BRICS countries and enabling settlements in the local currencies.

3. We call for the need to make progress towards the achievement of a fair and market-oriented agricultural trading system.

4. We agree to strengthen exchanges and cooperation in trade in services as established in the BRICS Framework for Cooperation on Trade in Services.

5. We agree to enhance dialogue and cooperation on intellectual property rights through, the BRICS IPR cooperation mechanism (IPRCM).

6. We look forward to the report by the BRICS Payment Task Force (BPTF) on the mapping of the various elements of the G20 Roadmap on Cross border Payments in BRICS countries.

7. We have also tasked our Foreign Ministers to further develop the BRICS partner country model and a list of prospective partner countries and report by the next Summit.

8. The African Continental Free Trade Agreement (AfCFTA) and BRICS cooperation presents opportunities for the continent to transition away from its historic role as a commodity exporter towards higher productivity value addition.

Point number 1&2 -> DeDollarization
Point 3-> BRICS internal Food security
Point 4 -> Shifting Indian IT sector dependence from west
Point 5 -> BRICS IPR
Point 6 -> BRICS SWIFT
Point 7 -> New possible Members
Point 8 -> Concentrating on Africa

Next Summit in Russia.

 

[tsunami]

Keeping Turkey and Pakistan out should be top priority.

As far as I know decision are being made by consensus.

 

[Spindrift]

As far as I know decision are being made by consensus.

Then we need to lead a consensus building effort to keep the Pakis out. They are good for nothing, they have nothing to offer and will drag everyone down and if they want to join these are the things they need to do:
1). Administration of Paki land should be with the elected govt and not the Army.
2). They need to dismantle the terror factories.
3). Ensure safety of the minorities.
4). Vacate POK and hand that over back to India.

 

[tsunami]

Then we need to lead a consensus building effort to keep the Pakis out. They are good for nothing, they have nothing to offer and will drag everyone down and if they want to join these are the things they need to do:
1). Administration of Paki land should be with the elected govt and not the Army.
2). They need to dismantle the terror factories.
3). Ensure safety of the minorities.
4). Vacate POK and hand that over back to India.

All I know that Pakistan wanted to join (Supported by China) and it's not there. Bangladesh wanted to join (Supported by India), they were in the summit but couldn't join. A group with consensus works like that only. No member will be able to join until all agrees.

 

[tsunami]

 

[Crazywithmath]

The only useful insight;

 

[Samaritan]

if they didn't matter.. you would not have a group. all such groups are in a way developing countries seek a financial transaction system which is alternative to western system at present. Thats the wish of BRICS. The difference being India does not wants USA replaced by another single gorilla country. Here that Gorilla country you know - is China.

https://indianexpress.com/article/opinion/columns/china-iran-saudi-detente-india-8494321/

Opinion | Brics is all about China, which is precisely the problem

The differences in fortunes between China and the other Brics members are complicating plans for expansion and challenging the US dollar. The more dependent the group is on China, the deeper the fault lines within the bloc and the more difficult it is to coordinate policy.

www.scmp.com

Somebody who is very HIV+ve today in thread should understand- these all are issues that come up as part of multilateral group expansions. Why Saudi would say anything - when govt was forced to underground one its spokesperson??
Is that a win? Right now SA is breathing heavily on UP govt to deter later on touching Madrassas curriculum.

I beg to disagree with your views. Beyond certain limit , why would any country accept demand of any other country. All these relations are mostly give and take form. SA will twist our arm the day they understands we are dependent on them. We need oil they need services and food security. so the relation can be worked out.
Generally it is taken care that disharmony should not prevail amongst country due to religious or national security areas.
Yes! Every body wants to move away from $ now but India dose not posses that need .
I have sen rant in fourums to exclude India from BRICS , but its worth less.
Even Chins would not agree to it.

 

[tsunami]

I beg to disagree with your views. Beyond certain limit , why would any country accept demand of any other country. All these relations are mostly give and take form. SA will twist our arm the day they understands we are dependent on them. We need oil they need services and food security. so the relation can be worked out.
Generally it is taken care that disharmony should not prevail amongst country due to religious or national security areas.
Yes! Every body wants to move away from $ now but India dose not posses that need .
I have sen rant in fourums to exclude India from BRICS , but its worth less.
Even Chins would not agree to it.

Multiple platforms gets created time to time... some remains relevant and some don't. For next few years BRICS seems to be at center stage as it's growing. If there was no importance for making such forum then it would have remained the way it was for 15 years. But why suddenly so many countries want to join at the same time? Because all those nations are hopeful that something can be achieved at this stage.

 

[Johny_Baba]

 

[Spindrift]

This should be in the jokes thread.

 

[Johny_Baba]

This should be in the jokes thread.

joke or no joke some people shill for this guy's "predictions" and all for "DeDollarization" and all, now he's predicted Paxtan's entry within BRICS+ in future so make whatever you want to make of it

 

[tsunami]

https://www.gov.br/planalto/pt-br/acompanhe-o-planalto/noticias/2023/08/em-declaracao-conjunta-lideres-do-brics-anunciam-a-entrada-de-seis-novos-paises/jhb-ii-declaration-24-august-2023.pdf

 

[RedHood108]

 

[Gyyan]

 

[Spindrift]

In the second picture have they written Republic of India in Bengali? Can any member who can read and write Bengali confirm that?

 

[Johny_Baba]

In the second picture have they written Republic of India and Bengali? Can any member who can read and write Bengali confirm that?

View attachment 221616

গণপ্রজাতন্ত্রী বাংলাদেশ = People's Republic of Bangladesh
it's a member of this BRICS run "New Development Bank" that's why

 

[RedHood108]

Adoption of BRICS currency is not ideal for us. India has a cumulative trade deficit of almost 116 Billion Dollars with BRICS (China 73 B$ + Russian 43 B$).

Where as our main source of income is Dollars from the West. If we shift to trading in BRICS currency with these nations, we will soon have a deficit in BRICS currency equivalent to 100 B $ , which we cannot pay off with Dollars.

This BRICS deficit will then have to be paid off by taking loans form BRICS banks, like the IMF bailouts.

For us to actually successfully use BRICS currency our customers also have to shift to BRICS currency ie EU & US. Not gonna happen.