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WATCH: Will The Expansion Of BRICS Benefit Africa? (PICS) by TMKsouth: 9:53am On Aug 21, 2023 |
The 15th BRICS summit kicks off in Johannesburg on Tuesday - with the leaders of Brazil, Russia, India, China and South Africa meeting to discuss global issues. Since the inclusion of SA back in 2011, this will be the first time the BRICS leaders will discussion the expansion of this elite group of leading emerging economies. Over 40 countries from the global South have shown interest in becoming members - including Nigeria, Egypt, Saudia Arabia, Iran, Mexico, Indonesia and Argentina. Here's a special discussion by the South African Broadcasting Corporation (SABC) on what an expanded BRICS would mean for Africa. WATCH: https://youtube.com/watch?v=nFJ4bO0Wd38&feature=share7 1 Share
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Re: WATCH: Will The Expansion Of BRICS Benefit Africa? (PICS) by Wodu89: 9:57am On Aug 21, 2023 |
Clueless leftists 1 Like |
Re: WATCH: Will The Expansion Of BRICS Benefit Africa? (PICS) by TMKsouth: 10:18am On Aug 21, 2023 |
An expansion of the BRICS bloc under consideration at a summit this week has attracted a motley crew of potential candidates - from Iran to Argentina - with one thing in common: a desire to level a global playing field many consider rigged against them. The list of grievances is long. Abusive trade practices. Punishing sanctions regimes. Perceived neglect of the development needs of poorer nations. The wealthy West's domination of international bodies, such as the United Nations, the International Monetary Fund or the World Bank. Amid widespread dissatisfaction with the prevailing world order, the pledge of BRICS nations - currently Brazil, Russia, India, China and South Africa - to make the grouping a leading champion of the "Global South" has, despite a dearth of concrete results, found resonance. Over 40 countries have expressed interest in joining BRICS, say officials from South Africa, which is hosting the Aug. 22-24 summit. Of them, nearly two dozen have formally asked to be admitted. "The objective necessity for a grouping like BRICS has never been larger," said Rob Davies, South Africa's former trade minister, who helped usher his country into the bloc in 2010. "The multilateral bodies are not places where we can go and have an equitable, inclusive outcome." Observers, however, point to an underwhelming track record they say does not bode well for BRICS's prospects of delivering on the lofty hopes of prospective members. Though home to some 40% of the world's population and a quarter of global GDP, the bloc's ambitions of becoming a global political and economic player have long been thwarted by internal divisions and a lack of coherent vision. Its once booming economies, notably heavyweight China, are slowing. Founding member, Russia, is facing isolation over the Ukraine war. President Vladimir Putin, wanted under an international arrest warrant for alleged war crimes, will not travel to Johannesburg and only join virtually. "They may have over-inflated expectations of what BRICS membership will actually deliver in practice," said Steven Gruzd from the South African Institute of International Affairs. While BRICS has not divulged a full list of expansion candidates, a number of governments have publicly stated their interest. Iran and Venezuela, punished and ostracised by sanctions, are seeking to reduce their isolation and hope the bloc can offer relief to their crippled economies. "Other integration frameworks existing on a global level are blinded by the hegemonic vision pushed by the U.S. government," RamΓ³n Lobo, the former finance minister and central bank governor of Venezuela, told Reuters. Gulf states Saudi Arabia and the United Arab Emirates see BRICS as a vehicle for a more prominent role within global bodies, analysts say. African candidates Ethiopia and Nigeria are drawn by the bloc's commitment to reforms at the United Nations that would give the continent a more powerful voice. Others want changes at the World Trade Organization, International Monetary Fund and World Bank. "Argentina has insistently called for a reconfiguration of the international financial architecture," an Argentine government official involved in the negotiations to join BRICS told Reuters.
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Re: WATCH: Will The Expansion Of BRICS Benefit Africa? (PICS) by TMKsouth: 10:20am On Aug 21, 2023 |
The South African experience While BRICS leaders at the summit are expected to discuss a framework for admitting new members with China and Russia keen to forge ahead with expansion, others, notably Brazil, are worried about rushing the process. The tangible benefits to joining, meanwhile, are waning. The bloc's most concrete achievement, the New Development Bank, or "BRICS bank", has seen its already sluggish pace of lending further hobbled by sanctions against founding member Russia. Small countries hoping for an economic boost from BRICS membership might look to South Africa's experience. Its BRICS trade has indeed increased steadily since it joined, according to an analysis by the country's Industrial Development Corporation. But that growth is largely down to imports from China, and the bloc still accounts for just a fifth of South Africa's total two-way trade. Brazil and Russia together absorb a mere 0.6% of its exports and by last year, South Africa's trade deficit with its BRICS partners had ballooned four-fold to $14.9 billion compared to 2010. Such outcomes should give candidate nations pause, Gruzd said. "Concrete achievements for BRICS are difficult to find. Lots of talk. Much less action." |
Re: WATCH: Will The Expansion Of BRICS Benefit Africa? (PICS) by Never4getU: 1:35pm On Aug 21, 2023 |
The earlier Africans realize putin plans for ammunition export the better, a lot of arms group will spring up spontaneously thereby turning Africa to a battle grounds for his proxy war against US while he utilities revenue generation from arms sales to improve his economy. Stupid Africans thinks Putin loves them, they said the devil π u know its better than the angel u don't know. America regardless of its flaws it's is better of Russia whose veiled love is just to seek market for his battered economy due to sanctions occasioned by her invasion of Ukraine., America is a liberal democracy whose enormous liberty is enjoyed across board while same can't be said of Russia. How many Africans do u have in Russia vying for any of their political leadership positions or being saddled to take such positions to prove the narrative Putin is trying to push? We think America is evil then we should go ahead and allow Russia take the lead, we will smell ourselves. Whatever Russia is doing to make it seem loved its only a ploy to win us over so we can choose her against our long time international ally. Africans should be wise...one of the evil Russia is planning for us is already happening which is the coup, they want to control africa market and how do it is to ought democratically elected govts who are mostly American allies and then install their own puppets and give their own backing with which they can deployed to fight US market and once they're able to secure the govt endorsement with a guarantee to loans which China can help foot by the way, they will have the market of that country. We should be careful, China and Russia are trying to drag Africa into their crazy wars and we will never be the same for it. My two cents |
Re: WATCH: Will The Expansion Of BRICS Benefit Africa? (PICS) by Mossadd: 8:40pm On Aug 21, 2023 |
Never4getU:rubbish 2 Likes |
Re: WATCH: Will The Expansion Of BRICS Benefit Africa? (PICS) by Horus(m): 12:15pm On Aug 24, 2023 |
The BRICS group of nations has decided to invite six countries - Argentina, Egypt, Iran, Ethiopia, Saudi Arabia and the United Arab Emirates
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Re: WATCH: Will The Expansion Of BRICS Benefit Africa? (PICS) by TMKsouth: 6:28am On Aug 25, 2023 |
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Re: WATCH: Will The Expansion Of BRICS Benefit Africa? (PICS) by Wodu89: 6:38am On Aug 25, 2023 |
It's just a gathering of rogue nations who wants to do anything and get away with it under the coloration of dedollarization |
Re: WATCH: Will The Expansion Of BRICS Benefit Africa? (PICS) by Dream25: 7:31am On Aug 25, 2023 |
Wodu89:You can say all the things you want, this guys are influential and the West has nothing on them... β |
Re: WATCH: Will The Expansion Of BRICS Benefit Africa? (PICS) by victory36(m): 9:41am On Aug 25, 2023 |
Never4getU:so Africa being exploited by the west and remaining western lapdogs is better for the continent right? |
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