BRICS has become eleven countries instead of five. - page 7.

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Quote from: Negotiation on August 29, 2023, 09:44:02 AM

BRICS has grown to eleven countries instead of five but these can often work against their own organization. As the economies of the BRICS member countries differ greatly their governments have different foreign policies. That is why it was very difficult for them to agree the matter took more time to be decided when indian prime minister narendra modi proposed setting two qualifications for membership. Interested countries must not be the target of any international sanctions and must meet a minimum standard of GDP per capita. India sees BRICS not as an organization opposed to the west but as a country that can cooperate to work for global peace and economic development.

BRICS countries are not in perfect harmony and there are differences between many of them. I do not know how it will be possible to overcome these differences and establish lasting partnerships.
For example, there is an old dispute between India and China because of a pending border dispute. This dispute caused diplomatic problems between the two countries and disrupted many joint projects.
We also have a dispute between Egypt and Ethiopia because of the Grand Ethiopian Renaissance Dam in the course of the Nile River.
Likewise, the eternal conflict between the Kingdom of Saudi Arabia and Iran due to sectarian and geopolitical problems.

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Quote from: slapper on August 29, 2023, 01:04:59 PM

There's no denying its shaking up the geopolitical playground. But listen, lets not forget, size doesnt always mean power. When it comes to influence, the G-7 nations still pack a wallop.

Exactly, BRIC might have 40% of the population but that population has little buying power.
In reality BRICS ist not about de-dollarization but about avoiding being sanctioned.
90+ % of all banks work over the swift system, that means your dollars sent from India to Argentina cross the US.
So if you happen to be an oil Minister and your money is not really clean, chances are high the money causes an investigation.

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There's no denying its shaking up the geopolitical playground. But listen, lets not forget, size doesnt always mean power. When it comes to influence, the G-7 nations still pack a wallop.

A common currency? I've got my doubts. The distinction between these countries is gigantic - literally, an ocean apart. Iran and Argentina? They might as well be on different planets. You're telling me they'll agree on a common currency? Not happening, folks.

Putin talks big; but even if he's on to something, its a long road ahead. This isnt the start of a new world order; its just reshuffling the deck.

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Quote from: WillyAp on August 29, 2023, 10:29:06 AM

Quote from: Sithara007 on August 29, 2023, 12:28:17 AM

Dozens of countries have applied to join BRICS, but some of the founding members have long-standing hostilities. One example is between India and China. Very recently there was a border clash, in which dozens of soldiers died from both the sides. So an economic union between the BRICS nations looks unviable for now. And then there is the issue about a common currency. At this point, I don't believe that any of the national currencies in BRICS bloc has the capability to replace the USD. CNY looks like the strongest one, but even it is heavily manipulated by the government.

Yup and often overlooked by people having a inner orgams when anti americanism gains traction. Although in my eyes BRIC is a poor people's club. Their Governments might have enough cloud, their people have not.

Between themselves actually there is a potential for quite large conflicts, such as between China and India but, what has become my focus is not only this but the current high burden of living and debt levels soaring high in the long term duration the consequences for this will indirectly affect the level of social welfare as well in the end.

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Quote from: Sithara007 on August 29, 2023, 12:28:17 AM

Dozens of countries have applied to join BRICS, but some of the founding members have long-standing hostilities. One example is between India and China. Very recently there was a border clash, in which dozens of soldiers died from both the sides. So an economic union between the BRICS nations looks unviable for now. And then there is the issue about a common currency. At this point, I don't believe that any of the national currencies in BRICS bloc has the capability to replace the USD. CNY looks like the strongest one, but even it is heavily manipulated by the government.

Yup and often overlooked by people having a inner orgams when anti americanism gains traction. Although in my eyes BRIC is a poor people's club. Their Governments might have enough cloud, their people have not.

Flexystar

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That is interesting partnership but with future ties. Anything can happen in between until January 2024. I am more or less happy that these countries are coming together as alliances of East! I am not sure how far BRICS will go but it looks like they have started to free up their main engines just now.
This will help them prosper in many ways as various trade route open ups for them leaving behind all the grudges. The trade routes, manufacturing support, labors, and raw material supply chain will be readily available in that circle and thus boosting the economies for them. The world needs that just right now since everything is moving very fast and silk roads are not the next gen stuff due to lack of new thinking. Just having smartphone 1-100 version or AI's replacing the human jobs ain't gonna help it. BRICS and upcoming nations are looking at it very differently and it can definitely help them progress unidirectionally.

Quote from: LoyceV on August 24, 2023, 09:58:03 AM

Quote from: coupable on August 24, 2023, 06:54:24 AM

These countries are Egypt, Iran, United Arab Emirates, Saudi Arabia, Ethiopia, and Argentina.

So, what are they going to call it now? BI CAUSERIES? BRICS EU I SEA? BECAUSE SIRI? There are so many possibilities with those extra letters Cheesy

That could be BRICS-ALLINCES or may be BRICSAL.

Negotiation

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BRICS has grown to eleven countries instead of five but these can often work against their own organization. As the economies of the BRICS member countries differ greatly their governments have different foreign policies. That is why it was very difficult for them to agree the matter took more time to be decided when indian prime minister narendra modi proposed setting two qualifications for membership. Interested countries must not be the target of any international sanctions and must meet a minimum standard of GDP per capita. India sees BRICS not as an organization opposed to the west but as a country that can cooperate to work for global peace and economic development.

iv4n

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Quote from: Plaguedeath on August 24, 2023, 09:44:08 AM

This is not looking good, if more and more countries are joining BRICS, then in the end it will be US+EU vs BRICS which is world war 3.

We need to have more and more country to be neutral, so when there's an attack from the another country, the other will support it and cool down the war. If there's only two big group, when a country attack another one, the other country will help and trying to attack back.

Quote

The book is set in 1984 in Oceania, one of three perpetually warring totalitarian states (the other two are Eurasia and Eastasia).

George Orwell's 1984!

It's interesting when this book was written. I first read it in high school... I read it again when I was 19-20 years old. Now I'm close to 40 and I think I should read it again just to remind myself what really awaits us all in the near future. In the 21st century, people are crazier than ever before, and perhaps the biggest problem is arming, there are more of them than ever and everyone is still arming themselves. I just wonder where they will go with all those weapons...

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Quote from: coupable on August 24, 2023, 06:54:24 AM

Today, at the start of the closing day of the BRICS meeting, the President of South Africa announced an important decision regarding the BRICS acceptance of the invitation of six countries to become new members of the BRICS group. These countries are Egypt, Iran, United Arab Emirates, Saudi Arabia, Ethiopia, and Argentina. He also announced a consensus regarding the first stage of expanding BRICS, so that the membership of new members begins on January 1, 2024, while stressing that the doors of membership will remain open to other countries in the future, such as Algeria and Indonesia, which are not yet ready to join.
With the accession of these countries, the BRICS bloc now includes 46% of the world's population (almost half), with a gross domestic product of more than the quarter of the global GDP, which will make it a new engine for the global economy.

EU BRICS, I SEA. Grin

They are going to have to change the name if they want to accommodate all of these nations.

Anyway, a counter-balance to western countries is a good thing in my opinion - they hand out sanctions quickly, but take too long to remove them, and populations of those countries will suffer for that.

Quote from: justdimin on August 29, 2023, 03:01:40 AM

That is a trouble even right now, and the fact that they could grow to be bigger is definitely scare for sure. However, I do not think that they will get more powerful, they still need the money from the west, all these nations are poor compared to west, only nation in all this list that could be considered rich is China and even they are having financial breakdown right now, USA could crash as much as they want and still come out on top and that is what matters.

I believe that we need to end up with a situation that is a bit different and should be considered that BRICS could never be rich and just need money from the west all the time, they need to sell their resources, factories, workers, and everything else just to get money from the west.

*USA (fixed that for you).

USA is the only country which can print unlimited amounts of its own money, the rest of the west can't do that because the dollar is the global reserve, backed by the US government.

That makes you end up in a position where we can't even solve our own citizens' problems, but we somehow have the enthusiasm to meddle with other peoples'.

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Quote from: uneng on August 28, 2023, 12:18:15 PM

It's all about Russia and China trying to increase their influence in the world through the arrangement of third world nations against first world countries which are lead by USA. I don't know how strong this economical alliance can be, but I fear we get more distant from US and their allies to give preference to russians and chineses. Living in Brazil, personally, I prefer to stay with the occident, because it's still where freedom and individual rights are more respected than in the rest of the world. And if BRICS get stronger, I believe there is a real threat tyranical practices from the east may be applied to us too, even living in an western country.

That is a trouble even right now, and the fact that they could grow to be bigger is definitely scare for sure. However, I do not think that they will get more powerful, they still need the money from the west, all these nations are poor compared to west, only nation in all this list that could be considered rich is China and even they are having financial breakdown right now, USA could crash as much as they want and still come out on top and that is what matters.

I believe that we need to end up with a situation that is a bit different and should be considered that BRICS could never be rich and just need money from the west all the time, they need to sell their resources, factories, workers, and everything else just to get money from the west.

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I think a lot of people are making too much of the BRICS summit. They clearly said that they wanted to strengthen trade agreements between the member countries and if a "new" currency are developed.... it will merely be used to make transactions easier between these countries.

The "West" has used international payment systems as a political tool to force certain countries to adhere to their commands. (sanctions and blocking SWIFT or VISA payments and even blocking transfers from targeted individuals)

In the meantime ....those countries are going to use their local currencies more to strengthen their own economies and not just the US or the UK ..... or the European currencies. Roll Eyes

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Quote from: Sithara007 on August 29, 2023, 12:28:17 AM

Dozens of countries have applied to join BRICS, but some of the founding members have long-standing hostilities. One example is between India and China. Very recently there was a border clash, in which dozens of soldiers died from both the sides. So an economic union between the BRICS nations looks unviable for now. And then there is the issue about a common currency. At this point, I don't believe that any of the national currencies in BRICS bloc has the capability to replace the USD. CNY looks like the strongest one, but even it is heavily manipulated by the government.

As far as I know, at the recent BRICS summit, Xi and Modi had fruitful behind-the-scenes talks between themselves on the issue of mutual territorial claims. I hope that this conflict between India and China will be peacefully resolved, or at least the leaders of both countries will be wise enough to avoid escalation and continue to fight with sticks, not missiles.

Sithara007

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Dozens of countries have applied to join BRICS, but some of the founding members have long-standing hostilities. One example is between India and China. Very recently there was a border clash, in which dozens of soldiers died from both the sides. So an economic union between the BRICS nations looks unviable for now. And then there is the issue about a common currency. At this point, I don't believe that any of the national currencies in BRICS bloc has the capability to replace the USD. CNY looks like the strongest one, but even it is heavily manipulated by the government.

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I have not heard of this organization before and this is the first time I am hearing this. The Brazil, Russia, India, China and South Africa (BRICS) group is not for the betterment for African States and also I am suspecting that the Soviet Union is trying to form another bloc to support their new ideology. From my research, the organization needs 20 countries to join them and the ones they need have not shown interest. Such organizations do not favor Africa countries.

The only financial or economic freedom organization African countries need is the economic organization within Africa with one currency in the whole Africa and not international economy Organization to edify African economy. As a well educated scholar about African history, I am not in support of this bloc ideology in Africa. This will bring another economic conflict in Africa.

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Quote from: Smack That Ace on August 28, 2023, 10:05:30 AM

Can you point out who is expecting the United States to fail?

Most leftist leaning people I know hate the US, and drive american made cars.
Of course also a few others from the EU, Northern Africa and such. Hate blinds as much as love.

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Quote from: WatChe on August 28, 2023, 01:19:04 PM

Not only Iran but KSA and UAE have also joined BRICS. It will be interesting to see how BRICS will move on in coming days. China one founding member of BRICS has around 3 trillion USD of reserves and India has over 500 Billion USD of reserves. Its not in interest of India and China to see a weak USD, since that will have an impact on there economy too. The last common currency was EURO and after that there is no such development. BRICS has big powers like Russia and China, so defiantly it will have an impact.

I really hope that with the addition of these new members, especially when later with further expansion to include Malaysia, Indonesia and Turkey, at the 2024 summit, the BRICS will surpass the G7 in all respects. The BRICS can reshape global dynamics. This certainly has the potential to be done. My only worry is that Western countries led by the United States will do everything they can to sabotage this. It's obvious they have the resources and the ability to do just that.

The BRICS concept is “Economic Democratization”. So it's going to be a great thing for the countries that are already on board. But After the BRICS currency was formed, I think it might take 5 to 10 years, then this game really exists.

WatChe

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Quote from: Bushdark on August 24, 2023, 06:26:14 PM

I think Iran is already a member of the BRICS before now and things is going to get rough for the American dollars making there economy less stronger than what it is now. It is very certain that many countries in Africa will have no option than to Join and accept the BRICS membership has time goes on because many of the African countries is already passing through a rough time since the time of colonial era. The movement of the BRICS currency is going to go far than what we are seeing now.

Not only Iran but KSA and UAE have also joined BRICS. It will be interesting to see how BRICS will move on in coming days. China one founding member of BRICS has around 3 trillion USD of reserves and India has over 500 Billion USD of reserves. Its not in interest of India and China to see a weak USD, since that will have an impact on there economy too. The last common currency was EURO and after that there is no such development. BRICS has big powers like Russia and China, so defiantly it will have an impact.

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Quote from: legendbtc on August 28, 2023, 08:59:23 AM

Quote from: cozytrade on August 28, 2023, 08:20:52 AM

The speed of the BRICS currency is increasing day by day and it is believed that BRICS will soon become self-sufficient. It is clear that six more countries are included in this year's BRICS 15th conference. If BRICS is perfected in the world market, the pressure on the dollar will decrease a lot and the dollar will gradually disappear from the world market. As a result, the American economy will collapse a lot

I support the BRICS and hope they will become bigger and more influential in the world. But I don't believe they can make the dollar disappear from the world market nor the US economy will collapse. Even finding a way to reduce their dependence on the USD is not a small challenge for them, and there is no guarantee that the BRICS will succeed. So don't expect that the US economy will collapse or the dollar will disappear completely, that's not possible, they will only weaken and we should hope that happens.

The world urgently needs a multilateral, mutually inclusive and respectful economic development organization like the BRICS for all people in every country to improve their quality of life which is a true human right.

Because actually having a counterpoint against the western market in this case is the dollar seems like a good idea. If this was an economic alliance led by a sane, stable and generally calm country like India then that would be a great thing. If this is done not only for the purpose of 'fighting the west' but also 'taking over all costs currently being borne by the west for the countries of this region so that the west can be relieved of taking care of them' it sounds fair (you get the benefits but you are willing bear the costs of those benefits).

The BRICS is led by Russia and China, I understand why some of these countries like the 'idea', in fact many countries want to join. it's a nice 'idea', but even the best cars are only as good as their drivers. And hopefully these drivers don't go crazy and drive their cars over a cliff. Hopefully this will be a positive thing in the world economy.

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Quote from: pooya87 on August 28, 2023, 10:57:29 AM

Quote from: coupable on August 28, 2023, 07:11:03 AM

The BRICS countries were not able to declare a direct confrontation against America by officially accepting Iran's accession, and the cooperation remained formal. Today, the BRICS group feels stronger and that the announcement of Iran's inclusion in it will not meet any objection.

This is also another indication of the weakening United States. It is not just the POTUS who is a senile old man, he is the literal manifestation of a regime that used to be a superpower.

After updating membership in the BRICS group, including updating the terms of application for accession, it is clear that the courage that some countries have become to bypass the United States (as a strategic ally) and to prefer the eastern option. China and Russia are in direct war against the United States, whether in the military or economic field, but other countries have always been committed to the rules of the game set by the United States, such as Saudi Arabia (a major export of oil to America and a loyal customer for the acquisition of American weapons) and Egypt, which depends on Its economy is largely dependent on US aid. Ethiopia and Argentina are not the most fortunate, and I would not have imagined that they would have this opportunity.

uneng

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It's all about Russia and China trying to increase their influence in the world through the arrangement of third world nations against first world countries which are lead by USA. I don't know how strong this economical alliance can be, but I fear we get more distant from US and their allies to give preference to russians and chineses. Living in Brazil, personally, I prefer to stay with the occident, because it's still where freedom and individual rights are more respected than in the rest of the world. And if BRICS get stronger, I believe there is a real threat tyranical practices from the east may be applied to us too, even living in an western country.

Topic: BRICS has become eleven countries instead of five. - page 7. (Read 1354 times)