Russia hosts BRICS summit amid geopolitical turmoil

[mountaineer]

Russia hosts BRICS summit amid geopolitical turmoil
By Washington Examiner Staff
October 22, 2024 6:06 am

The 2024 BRICS summit will commence today in Kazan, Russia, in one of the preeminent policy meetings in the world.

The summit is expected to focus on a variety of strategies to increase the intergovernmental organization’s influence and maximize economic efficiency so that it can continue to compete against the economies of Western nations. It comes amid significant geopolitical turmoil, including Russia’s war with Ukraine.

BRICS, which is an acronym for Brazil, Russia, India, China, and South Africa, is an economic and geopolitical bloc that rivals the G7 countries. Established in 2001 with Brazil, Russia, India, and China, it added South Africa in 2010. Most recently, the BRICS expanded again to include the United Arab Emirates, Iran, Egypt, and Ethiopia. This year’s summit is expected to include more than 30 countries.  ...

Ian Miles Cheong
@stillgray
India and China have formally concluded their four-year standoff along the Himalayan frontier.
This resolution came just before the BRICS Summit, facilitating the first direct talks between Prime Minister Narendra Modi and President Xi Jinping since 2020.
6:36 AM · Oct 22, 2024

[catfish1957]

30 potential nations in the bloc?   

This is a news story that will have as much  impact on our lives 10-20 years from now, as much as what happens in 2 weeks. 

And no, that is not an over dramatization ....... 

[mountaineer]

These countries pretty much hate us.
See: Council on Foreign Relations: What is the BRICS Group and Why is it Expanding?


Light blue: prospective members
Dark blue: current members

[Free Vulcan]

I remember alot of stamping, puffing and defiant peacocking when it was strongly asserted that BRICS would not be a serious if not dangerous threat to the dollar's financial hegemony. That would and could never happen you see because they rest of the world are financial amateurs and hacks with no trustable currency and India would never join. And because 'Murica!

And a year later here we are. China seems to be playing the long game now, and backed off it's desire for control and instant power gratification. A year later and now India is part of the mix, which as greatly upped the economic and monetary power of the group.

Ignore at your own financial peril.

[berdie]

30 potential nations in the bloc?   

This is a news story that will have as much  impact on our lives 10-20 years from now, as much as what happens in 2 weeks. 

And no, that is not an over dramatization .......

30 countries. Not bueno.

[Fishrrman]

mountaineer posted in #2 above:
"These countries pretty much hate us."

What I see is basically the "white world" vs. the "nonwhite world".
With the notable [and somewhat inexplicable] exception of Russia, of course.

[mountaineer]

Russia ally Chinese President Xi Jinping calls for an end to the Ukraine war at BRICS Summit. 

https://twitter.com/stillgray/status/1849076807577829584

[mountaineer]

At the BRICS Summit, President Vladimir Putin stated that weaponizing the US dollar is a huge mistake.

https://twitter.com/stillgray/status/1849073859896484196

[catfish1957]

Russia ally Chinese President Xi Jinping calls for an end to the Ukraine war at BRICS Summit. 

Xi sees the downside of this quagmire, in relation to  what the Uke people have done to defend their homeland.  This has created an  inspiration for the Taiwainese that the Chicoms don't want.

[verga]

Xi sees the downside of this quagmire, in relation to  what the Uke people have done to defend their homeland.  This has created an  inspiration for the Taiwainese that the Chicoms don't want.

And I thought it was just because of the cost of oil. Thank you for pointing that out.

[catfish1957]

And I thought it was just because of the cost of oil. Thank you for pointing that out.

Well....  that too.

The Chicoms as massive Oil importers benefits from a stable cheap oil price.  Want to see the Chicoms squirm?  Watch what happens if oil in a crisis goes up to $110-$120/bbl.  Their economy is already hurting.  Something like that might trigger a panic. 

[mountaineer]

Good points, catfish.

[Kamaji]

I remember alot of stamping, puffing and defiant peacocking when it was strongly asserted that BRICS would not be a serious if not dangerous threat to the dollar's financial hegemony. That would and could never happen you see because they rest of the world are financial amateurs and hacks with no trustable currency and India would never join. And because 'Murica!

And a year later here we are. China seems to be playing the long game now, and backed off it's desire for control and instant power gratification. A year later and now India is part of the mix, which as greatly upped the economic and monetary power of the group.

Ignore at your own financial peril.

And they still aren't.  The biggest danger to the U.S. dollar and the U.S. economy is the U.S. itself and, in particular, its penchant for unlimited deficit spending.

[Bigun]

And they still aren't.  The biggest danger to the U.S. dollar and the U.S. economy is the U.S. itself and, in particular, its penchant for unlimited deficit spending.

 

[catfish1957]

And they still aren't.  The biggest danger to the U.S. dollar and the U.S. economy is the U.S. itself and, in particular, its penchant for unlimited deficit spending.

Yep...it's more of a cause/effect situation.  The BRICSters aren't as much as anti-dollar, as much as anti-driving off a cliff.

[Kamaji]

Yep...it's more of a cause/effect situation.  The BRICSters aren't as much as anti-dollar, as much as anti-driving off a cliff.

I wouldn't even give them that much credit.  They're anti-American, basically, and would love to be able to replace the U.S. as one of the principle economic drivers on the planet, but don't have the economies or the political will to do it.  If they succeed, it will be because the U.S. killed itself, not because they beat the U.S. as-is.

[catfish1957]

I wouldn't even give them that much credit.  They're anti-American, basically, and would love to be able to replace the U.S. as one of the principle economic drivers on the planet, but don't have the economies or the political will to do it.  If they succeed, it will be because the U.S. killed itself, not because they beat the U.S. as-is.

I am not quite that abstract on the subject.   Brass tacks....   money in at least the civilized world trumps ideology.  Seen too many cases for too many years to think otherwise.

[mountaineer]

Xi and Putin are BFFs.

Inconvenient Truths by Jennifer Zeng
@jenniferzeng97
CCP Enacts New Military-Civil Dual-Use Export Regulations: Legal Framework for Supporting Russia?

Many of us didn't notice that on September 30th this year, the State Council of the CCP quietly passed the "Regulations of the People's Republic of China on Export Control of Dual-Use Items."

This regulation, which spans six chapters and over 8,400 words, states, "The term 'dual-use items' as used in these regulations refers to goods, technologies, and services that have both civilian and military applications or contribute to enhancing military potential, especially those that can be used in the design, development, production, or use of weapons of mass destruction and their delivery vehicles, including related technical data, etc."

The regulations detail various matters concerning the export of military-civil dual-use items abroad, and these regulations will come into effect on December 1st this year.

Upon implementation, the following existing regulations will be simultaneously abolished: "Regulations of the People's Republic of China on Export Control of Nuclear Dual-Use Items and Related Technologies," "Regulations of the People's Republic of China on Export Control of Missiles and Related Items and Technologies," "Regulations of the People's Republic of China on Export Control of Biological Dual-Use Items and Related Equipment and Technologies," and "Measures for the Export Control of Certain Chemicals and Related Equipment and Technologies."

Analysis suggests that the introduction of this regulation at such a sensitive time is aimed at legislating for military-civil fusion, providing the CCP with a legal basis and support to lawfully use "military-civil dual-use items" to assist Russia.
4:04 PM · Oct 25, 2024