BRICS

“Now with the Trump administration, suddenly there’s an emerging common interest, ironically around trade.”

BRICS is no longer in need of proving to the naysayers its sustainability and viability. The time has now come for it to expand its membership and reach among emerging markets.
South Africa today hosts the 10th BRICS Summit amid growing global trade tensions[PREUSS]
 
The world was in the grips of a growing financial crisis when Brazil, Russia, India and China first agreed to form an economic bloc in 2008.

“These actions are accompanied by growing disdain for multilateralism and global trade rules.”
Davies says US unilateral policies will disrupt global trade [Photo courtesy: DTI]
The South African Minister of Trade and Industry, Dr Rob Davies, told the BRICS Business Council meeting in Durban South Africa that the US was creating global economic turbulence by ignoring long standing world trade rules and imposing unilateral actions.

The theme is “BRICS in Africa: Collaboration for Inclusive Growth and Shared Prosperity in the Fourth Industrial Revolution”

Chinese President Xi Jinping maintains a good relationship with Trump, but Chinese media has called the US a trade bully
 
US President Donald Trump has warned of imposing tariffs on as much as $500 billion in Chinese exports if Beijing retaliates against his administration’s $34 billion levies which went into effect July 6.

While Russian President Vladimir Putin and Chinese President Xi Jinping have met numerous times, both their countries have boosted cultural exchange and trade in recent years [PPIO]
The opening of a new freight train route between China and the Commonwealth of Independent States (CIS) is a continuing sign of efforts by both regions to deepen their communication and transportation ties, officials have said.

File photo of US President Donald Trump with Chinese President Xi Jinping. It is unclear how the tariffs will affect their warm relationship
China on Saturday continued its second day of harsh criticism of the Trump administration for imposing tariffs set to go into effect on July 6.
A Chinese state newspaper said the US President had an “obsession with playing the disgraceful role of global economic disruptor.”
“The wise man builds bridges, the fool builds walls,” it said.

Ahead of the crucial Shanghai Cooperation Organization (SCO) summit in Qingdao this coming weekend, three other recent events have offered clues on how the new world order is coming about.

A peace treaty, including resolution of the Kuril Islands dispute, has eluded both countries [Image: PPIO]
Russian President Vladimir Putin said on Saturday that finalizing a peace treaty with Japan would be in the best interests of both countries.
His statement came shortly after meeting with Japanese Prime Minister Shinzo Abe who is in St Petersburg. Russia to attend the St. Petersburg International Economic Forum (SPIEF) but flew to Moscow to meet with the Russian president.

Prime Minister Narendra Modi met with his UK counterpart Theresa May at 10 Downing Street in London on Wednesday April 18, 2018 [Image: PMO, India]
Indian Prime Minister Narendra Modi has returned to New Delhi after concluding a three-nation trip
He capped off his diplomatic tour with stop in Berlin where he met with German Chancellor Angela Merkel.
Although no details have been released about their talks, Modi’s visit with Merkel is seen as a testament to strengthening India-Germany cooperation.