BRICS

BRICS in talks to create own cryptocurrency in another blow to US Dollar

The Head of the Russian Direct Investment Fund (RDIF) Kirill Dmitriev has stated that the BRICS may opt to create their own cryptocurrency for the purposes of global commerce.
A cryptocurrency is a digitally based means of exchange wherein the value of said currency is not determined by a central-bank. Most cryptocurrencies can be converted into state-issued currencies (Dollars, Euros, Yuan, etc.) through various foreign exchange services.

2017 BRICS Declaration: Emphasis on a results based, ideology free model of global economic cooperation and development

The leaders of Brazil, Russia, India, China and South Africa, as well as observing heads of state from Egypt, Thailand, Mexico, Tajikistan and others, have just completed their first full working day at the 9th Annual BRICS summit in Xiaman, China.
Earlier in the day, the summit’s host,  President Xi Jingping outlined the three main goals of the BRICS.
The Chinese President stated,

Analysis: China between a rock and a hard place over N Korea

Is North Korean leader Kim Jong Un the insane leader of a rogue state as the media makes him out to be? Here, he is addressing the central committee of the ruling Workers’ Party in Pyongyang [North Korean Central News Agency]
News that the Democratic People’s Republic of Korea (DPRK, also known as North Korea) on Sunday successfully tested its sixth hydrogen bomb, meant for long-term missile warfare, has brought speculations of a nuclear Armageddon back to the fore.

BRICS Summit? What BRICS Summit, Kim just stole the show!

Kim Jong-Un conducted his country’s sixth nuclear test, this time experimenting with an ICBM-capable hydrogen bomb that’s reportedly the strongest munition that it’s ever wielded. Analysts had been warning that a move such as this could have been expected for some time, but it nevertheless caught observers off guard that it occurred right on the eve of China’s BRICS Summit in Xiamen.

The Korea issue is now in the hands of the BRICS

While reading into the internal political decisions of North Korea is far from easy, one gets a decidedly better perspective when one assesses North Korean decisions in a broader regional context.
Today’s apparent subterranean detention of a nuclear weapon by Pyongyang, a weapon which is widely thought to be a hydrogen bomb, coincides with the commencement of the 9th annual BRICS Summit in Xiamen, China.
The location of Xiamen vis-a-vis Pyongyang is shown on the map below.

BRICS media forum with Peter Lavelle and BRICS colleagues (FULL VIDEO)

China’s CGTV has hosted a media forum to coincide with the BRICS summit which formally opens on the 3rd of September.
As part of the forum, CGTV invited leading broadcasters from fellow BRICS nations including Brazil, Russia, India and South Africa.
The Duran’s Peter Lavelle represented RT where he offered insights on global developments in politics, the economy and media from a Russian perspective.
Now watch the full discussion below. 

Chinese-India rapprochement is both more necessary and more realistic than US-Russian detente.

The forthcoming BRICS summit in Xiamen is due to be the most ambitious BRICS summit to-date. Among the wide reaching goals of the summit is an intention to work towards a customs union and the eventual establishment of  fully-fledged free trading zone between the BRICS and their partners.
READ MORE: Here’s what to expect from next week’s BRICS summit

A Brighter Future for BRICS

The 9th BRICS summit in Xiamen, China is not a routine meeting because it comes at a time when the bloc is entering a new stage of intensive development.
Moreover, it is the place for China to demonstrate its new role in international relations and the global economy.
The summit also comes at a time of increased political tensions in different areas, both close to the venue itself – that is, the Korean peninsula – and faraway Syria and the Middle East.