JOHANNESBURG: Leaders from the BRICS economic coalition, consisting of Brazil, Russia, India, China, and South Africa, are assembling in Johannesburg's financial hub of Sandton for a three-day summit. This gathering is expected to host deliberations on strategies for consolidating both political and economic sway in the developing world, signifying a crucial juncture in global diplomacy.
The participation of China's President Xi Jinping in the summit underscores the nation's ongoing commitment to the BRICS coalition as a conduit for its strategic ambitions. In a significant twist, Russian President Vladimir Putin will engage remotely through a video link due to an International Criminal Court arrest warrant related to the Ukrainian conflict.
Prime Minister Narendra Modi is set to play a pivotal role in the summit, joined by Brazilian President Luiz Inácio Lula da Silva and South African President Cyril Ramaphosa.
At the heart of these conversations lies the intention to bolster collaboration among Global South nations. This sentiment aligns with the shared inclination of Russia and China to contest what they perceive as Western dominance in global institutions. The gathering is poised to capture the interest of numerous developing nations contemplating BRICS membership.
A focal point of great significance is the proposed enlargement of the BRICS bloc. Over 20 countries, including Saudi Arabia, have officially sought membership. This maneuver holds the potential to forge a more diverse and robust coalition that could counterbalance the influence of Western powers.
While Brazil, India, and South Africa have expressed reservations regarding expansion, there seems to be a growing momentum in favor of it. Deliberations on the criteria for admitting new members are on the agenda, reflecting China's eagerness to expand the coalition's reach.
The United States and the European Union are closely observing these developments, aiming to offset the potential implications of heightened Russian and Chinese influence within the BRICS coalition. The summit is also likely to feature discussions on challenging the dominance of the US dollar in global financial systems.
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