BRICS

OPEC: Oil and condensate supplies to the Asia-Pacific region will increase by 2045

By Rhod Mackenzie The Asia-Pacific region’s (APR) share of global oil and gas condensate imports is set to increase from 64% in 2022 to nearly 72% by 2045, according to OPEC’s annual report, World Oil Outlook 2045 (WOO). Accordingly, oil and gas condensate supplies to the region will surge by 9.6 million barrels per day […]

BRICS members expand the use of yuan as Bank of China opens branch in Riyadh

By Rhod Mackenzie The Bank of China (BOC), one of China’s four largest state-owned commercial banks, has inaugurated its first branch in Riyadh, the capital of Saudi Arabia. This move aims to extend the use of the yuan in trade and finance. Analysts have observed that since the recent BRICS Summit, members of the bloc […]

Russia holds the key to a BRICS Currency

By Rhod Mackenzie The upcoming leader of the new BRICS Development Bank will serve a five-year term representing Russia. Within this period, a major decision  must be made which will have worldwidet reprecussions,this is regarding the creating of a financial instrument or currency. The quandary of whether a BRICS single currency is required created heated […]

Multipolarity: False Hope for the Left

Since the end of the Cold War, important, profound changes in the relations between capitalist states, coupled with equally sharp changes in the content of those relations, have seduced left-wing intellectuals and academics to embrace those countries whose governments clash– for untold reasons– with the political or economic demands of the US and its allies. […]

L’élargissement des BRICS n’est pas la fin de l’ordre mondial – ni la fin du monde

Les réactions face à l’élargissement des BRICS ont été un vrai ping-pong, alternant entre rejet et alarmisme. Mais pour le moment, rien ne permet de craindre la fin de l’ordre mondial régi par les États-Unis – et nous n’avons par conséquent pas à redouter le nouvel ordre mondial multipolaire que les BRICS souhaitent instaurer. Source […]

BRICS Attempts to Establish Multi-Polar World, Rejecting U.S.-dominated Uni-Polar World

On August 22-24, the BRICS organization (Brazil, Russia, India, China and South Africa) held its 15th Summit in Johannesburg, South Africa. BRICS Chairman Cyril Ramaphosa, who is president of South Africa, made concluding remarks about the Summit in a media briefing:  “Leading up to the Summit, there was a wide-ranging BRICS business program aimed at attracting investment, […]