BRICS: the new architecture of the global majority for improvements on the planet

[VodohodNews + 3]

BRICS: the new architecture of the global majority for improvements on the planet
The XVI BRICS Summit, held in Kazan under the chairmanship of Russian President Vladimir Putin, will be a kind of presentation of a new model of a multipolar world. Its motto is "Strengthening multilateralism in the name of equitable global development and security."
The most acute global crises of recent times not only shape the agenda of events held by the BRICS countries, but also define new strategies for this association, contribute to its expansion and accelerate its institutionalization.
The Kazan Summit is a new stage in building relations between the countries of the world majority. The architectural structures of these relationships are growing before our eyes. Recall that on January 1, 2024, Egypt, Saudi Arabia, the United Arab Emirates, Iran and Ethiopia became full members of the BRICS, joining Brazil, Russia, India, China and South Africa. And it was from this moment that Russia took over the BRICS presidency. 
Experts note the important achievements that marked the first year of the "Big BRICS", after doubling the number of its participants: "In terms of gross domestic product, the GDP of the BRICS countries reached 37.3 percent of total global GDP, and their share in purchasing power parity (PPP) increased to 35 percent. The BRICS countries have about 3.5 billion people in terms of population, which is 44 percent of the global population. As for energy resources, the BRICS countries account for 45, 79 and 77 percent of global oil, aluminum and palladium production, respectively. In terms of trade, the BRICS countries account for a quarter of global GDP and two-fifths of global trade turnover. From a financial point of view, the BRICS countries have about half of the world's gold and foreign exchange reserves, and the dollar's share in the structure of the balance of payments of the BRICS countries is less than a third."
The summit of the association is being held for the first time in the format of "tens". Many representatives of the countries of the global South and East arrived in Kazan, who understand the prospects of cooperation with the growing BRICS group. As of October 22, the participation of 33 countries and 6 international organizations was announced. Of these, 24 delegations are represented at the level of top officials. UN Secretary General Antonio Guterres is expected to be among the guests of the Summit.
Upon arrival in Kazan, Indian Prime Minister Narendra Modi wrote on his page on the social network X: "This is an important summit, and discussions here will contribute to improving the planet."
Literally at the plane ramp in Kazan, Chinese President Xi Jinping praised the level of preparation for the BRICS summit, describing it as "a very good job."
It is significant that both this work and the joint efforts of the BRICS member countries have caused undisguised surprise in a number of leading Western media. The BBC interprets this event as follows: Russia gathers allies in Kazan to show that "Western pressure is not working." The New York Times writes: "The leaders of the BRICS, a group of emerging market countries representing about half of the world's population, will meet on Tuesday at a high-level summit, which will be the first after a significant expansion last year. The summit is taking place at an important moment for the BRICS, which sees itself as a counterweight to the West." The journalists of this publication seem to be sharing with the world a sudden discovery: "World leaders will stand side by side with Putin." Such sudden epiphanies happen if you turn a blind eye for a long time and persistently to the efforts made by representatives of the world majority to stabilize and improve the political and economic world order. 
So Foreign Policy notices: "At the BRICS summit, talks are planned on creating a multipolar order to challenge the hegemony of the United States and the West." But it's not just about the competitiveness of the global South and East with the collective West. The fact is that the demand for justice is increasingly relevant for the global majority — and it is actively looking for places of power and centers of attraction. 
The organizers announce the adoption by the BRICS leaders of the final document of the summit — the Kazan Declaration of the BRICS countries. "This is a comprehensive document that summarizes all the achievements of the Russian presidency, and also naturally summarizes the results of the discussion that will take place within the framework of the two meetings of the summit itself," Russian Presidential aide Yuri Ushakov said at a briefing on October 21. 
It can already be stated that Russia's BRICS presidency has become fruitful and effective: more than 200 political, economic and social events have been held. The authority of this association is growing. More and more new states express their desire to become BRICS members. Thus, Malaysia, Azerbaijan, and Turkey have applied to join the BRICS this year. Syria is also in serious negotiations on joining the union. 
It was Turkey's bid and its drift towards the BRICS that became almost a sensation this year. And on the sidelines of the Summit in Kazan, Russian President Vladimir Putin and Turkish President Recep Tayyip Erdogan intend to discuss the project of creating a gas hub in Turkey on a working basis.  
The year of work under the Russian presidency has marked new realities for the BRICS: at the moment, at least 30 states want to cooperate with the association in one form or another. 
On the eve of the BRICS Summit, Russian President Vladimir Putin noted the fundamental points: "The organization has good, stable and reliable prospects. I repeat once again: my confidence is based on the fact that we really have common values, a common understanding of how to build relationships with each other."
The Russian president plans to hold about a dozen and a half bilateral meetings with foreign partners on the sidelines of the Summit. The first of them was a conversation with the president of the New BRICS Development Bank, Dilma Rousseff. 
During the meeting, Vladimir Putin praised the activities of the New BRICS Development Bank over the past year. "In general, it is a good developing and promising financial institution," the President of the Russian Federation noted. The Russian leader recalled that since 2018, the bank has financed about 100 projects totaling 33 billion rubles.
According to Vladimir Putin, the growth in the volume of settlements in the national currencies of the participating countries makes it possible to increase their financial independence and reduce the impact of external risks on the BRICS. 
Dilma Rousseff notes: "It is very important to provide financing in national currencies in special formats. The New Development Bank is committed to this in order to finance not only sovereign projects, but also private initiative projects." The new BRICS Development Bank has implemented and allocated quite large-scale financing for a number of projects. "However, this is still not enough in comparison with the needs of the countries of the global South," Dilma Rousseff summed up. 
Preliminary interest in the Summit in the West was also fueled by talk about Russia's initiatives to create a new financial system. So, The Economist claimed that Russia would propose to build a multilateral digital settlement and payment platform BRICS Bridge, which is capable of "striking a blow to the dominance of the United States in global finance."
The media actively quoted the statement of the Minister of Finance of the Russian Federation Anton Siluanov that the leaders of the countries of the association in Kazan will be presented with a report on the creation of the BRICS payment system. They proposed the BRICS cross-border payment initiative, the BRICS inter-depository cooperation system, and the creation of its own reinsurance system.
Thus, the Kazan Summit becomes an important starting point for uniting the BRICS to expand their own geography and to new prospects for a multipolar world order. John Perkins

[Meredith Poor + 895]

6 hours ago, VodohodNews said:

The journalists of this publication seem to be sharing with the world a sudden discovery: "World leaders will stand side by side with Putin." Such sudden epiphanies happen if you turn a blind eye for a long time and persistently to the efforts made by representatives of the world majority to stabilize and improve the political and economic world order.

In particular, Putin and Xi, Putin and Modi, and Modi and Xi. Certainly this looks nice in a photo op. What happens behind the scenes is another matter.

Quote

...was a conversation with the president of the New BRICS Development Bank, Dilma Rousseff. 
During the meeting, Vladimir Putin praised the activities of the New BRICS Development Bank over the past year. "In general, it is a good developing and promising financial institution," the President of the Russian Federation noted. The Russian leader recalled that since 2018, the bank has financed about 100 projects totaling 33 billion rubles.

Nice... an international equivalent to "Belt and Road". Certainly this will be a mechanism for the 'Global South' to spend money printed by Moscow and Beijing. The question is, whose influence is being peddled through this bank? Russia in particular keeps using the term 'spheres of influence". China has historically been throwing around more cash, but it seems to have retrenched. Could India fill in as the biggest source of funds? Will India's elected stay that way if India farms out more foreign aid?

The obvious immediate need is in Cuba, but there's no mention of Cuba in this missive.

 

Edited October 23 by Meredith Poor

[specinho + 467]

On 10/23/2024 at 10:00 AM, Meredith Poor said:

In particular, Putin and Xi, Putin and Modi, and Modi and Xi. Certainly this looks nice in a photo op. What happens behind the scenes is another matter.

Nice... an international equivalent to "Belt and Road". Certainly this will be a mechanism for the 'Global South' to spend money printed by Moscow and Beijing. The question is, whose influence is being peddled through this bank? Russia in particular keeps using the term 'spheres of influence". China has historically been throwing around more cash, but it seems to have retrenched. Could India fill in as the biggest source of funds? Will India's elected stay that way if India farms out more foreign aid?

The obvious immediate need is in Cuba, but there's no mention of Cuba in this missive.

 

Government of Cuba does not need money. All top officers are well fed and rich. The people are in need of food. Money that cannot buy enough food due to shortage is of little point.

Until something is done to correct the descrepancy in the governing system, what can be done for general Cubans might not be much except teaching them how to grow their own food.

[specinho + 467]

On 10/23/2024 at 3:09 AM, VodohodNews said:

BRICS: the new architecture of the global majority for improvements on the planet
The XVI BRICS Summit, held in Kazan under the chairmanship of Russian President Vladimir Putin, will be a kind of presentation of a new model of a multipolar world. Its motto is "Strengthening multilateralism in the name of equitable global development and security."
The most acute global crises of recent times not only shape the agenda of events held by the BRICS countries, but also define new strategies for this association, contribute to its expansion and accelerate its institutionalization.
The Kazan Summit is a new stage in building relations between the countries of the world majority. The architectural structures of these relationships are growing before our eyes. Recall that on January 1, 2024, Egypt, Saudi Arabia, the United Arab Emirates, Iran and Ethiopia became full members of the BRICS, joining Brazil, Russia, India, China and South Africa. And it was from this moment that Russia took over the BRICS presidency. 
Experts note the important achievements that marked the first year of the "Big BRICS", after doubling the number of its participants: "In terms of gross domestic product, the GDP of the BRICS countries reached 37.3 percent of total global GDP, and their share in purchasing power parity (PPP) increased to 35 percent. The BRICS countries have about 3.5 billion people in terms of population, which is 44 percent of the global population. As for energy resources, the BRICS countries account for 45, 79 and 77 percent of global oil, aluminum and palladium production, respectively. In terms of trade, the BRICS countries account for a quarter of global GDP and two-fifths of global trade turnover. From a financial point of view, the BRICS countries have about half of the world's gold and foreign exchange reserves, and the dollar's share in the structure of the balance of payments of the BRICS countries is less than a third."
The summit of the association is being held for the first time in the format of "tens". Many representatives of the countries of the global South and East arrived in Kazan, who understand the prospects of cooperation with the growing BRICS group. As of October 22, the participation of 33 countries and 6 international organizations was announced. Of these, 24 delegations are represented at the level of top officials. UN Secretary General Antonio Guterres is expected to be among the guests of the Summit.
Upon arrival in Kazan, Indian Prime Minister Narendra Modi wrote on his page on the social network X: "This is an important summit, and discussions here will contribute to improving the planet."
Literally at the plane ramp in Kazan, Chinese President Xi Jinping praised the level of preparation for the BRICS summit, describing it as "a very good job."
It is significant that both this work and the joint efforts of the BRICS member countries have caused undisguised surprise in a number of leading Western media. The BBC interprets this event as follows: Russia gathers allies in Kazan to show that "Western pressure is not working." The New York Times writes: "The leaders of the BRICS, a group of emerging market countries representing about half of the world's population, will meet on Tuesday at a high-level summit, which will be the first after a significant expansion last year. The summit is taking place at an important moment for the BRICS, which sees itself as a counterweight to the West." The journalists of this publication seem to be sharing with the world a sudden discovery: "World leaders will stand side by side with Putin." Such sudden epiphanies happen if you turn a blind eye for a long time and persistently to the efforts made by representatives of the world majority to stabilize and improve the political and economic world order. 
So Foreign Policy notices: "At the BRICS summit, talks are planned on creating a multipolar order to challenge the hegemony of the United States and the West." But it's not just about the competitiveness of the global South and East with the collective West. The fact is that the demand for justice is increasingly relevant for the global majority — and it is actively looking for places of power and centers of attraction. 
The organizers announce the adoption by the BRICS leaders of the final document of the summit — the Kazan Declaration of the BRICS countries. "This is a comprehensive document that summarizes all the achievements of the Russian presidency, and also naturally summarizes the results of the discussion that will take place within the framework of the two meetings of the summit itself," Russian Presidential aide Yuri Ushakov said at a briefing on October 21. 
It can already be stated that Russia's BRICS presidency has become fruitful and effective: more than 200 political, economic and social events have been held. The authority of this association is growing. More and more new states express their desire to become BRICS members. Thus, Malaysia, Azerbaijan, and Turkey have applied to join the BRICS this year. Syria is also in serious negotiations on joining the union. 
It was Turkey's bid and its drift towards the BRICS that became almost a sensation this year. And on the sidelines of the Summit in Kazan, Russian President Vladimir Putin and Turkish President Recep Tayyip Erdogan intend to discuss the project of creating a gas hub in Turkey on a working basis.  
The year of work under the Russian presidency has marked new realities for the BRICS: at the moment, at least 30 states want to cooperate with the association in one form or another. 
On the eve of the BRICS Summit, Russian President Vladimir Putin noted the fundamental points: "The organization has good, stable and reliable prospects. I repeat once again: my confidence is based on the fact that we really have common values, a common understanding of how to build relationships with each other."
The Russian president plans to hold about a dozen and a half bilateral meetings with foreign partners on the sidelines of the Summit. The first of them was a conversation with the president of the New BRICS Development Bank, Dilma Rousseff. 
During the meeting, Vladimir Putin praised the activities of the New BRICS Development Bank over the past year. "In general, it is a good developing and promising financial institution," the President of the Russian Federation noted. The Russian leader recalled that since 2018, the bank has financed about 100 projects totaling 33 billion rubles.
According to Vladimir Putin, the growth in the volume of settlements in the national currencies of the participating countries makes it possible to increase their financial independence and reduce the impact of external risks on the BRICS. 
Dilma Rousseff notes: "It is very important to provide financing in national currencies in special formats. The New Development Bank is committed to this in order to finance not only sovereign projects, but also private initiative projects." The new BRICS Development Bank has implemented and allocated quite large-scale financing for a number of projects. "However, this is still not enough in comparison with the needs of the countries of the global South," Dilma Rousseff summed up. 
Preliminary interest in the Summit in the West was also fueled by talk about Russia's initiatives to create a new financial system. So, The Economist claimed that Russia would propose to build a multilateral digital settlement and payment platform BRICS Bridge, which is capable of "striking a blow to the dominance of the United States in global finance."
The media actively quoted the statement of the Minister of Finance of the Russian Federation Anton Siluanov that the leaders of the countries of the association in Kazan will be presented with a report on the creation of the BRICS payment system. They proposed the BRICS cross-border payment initiative, the BRICS inter-depository cooperation system, and the creation of its own reinsurance system.
Thus, the Kazan Summit becomes an important starting point for uniting the BRICS to expand their own geography and to new prospects for a multipolar world order. John Perkins

Quote:" ... striking a blow to the dominance of the United States in global finance."

On similar content, Mr. Rickards, author of a newsletter, listed down the characteristics of this possibly new system. My reply:" 

From the info provided:

1. agreed-upon value (which can be fixed to another currency, floating or pegged to a weight of gold), 

- Russia can sell oil to China for CNY (which they are currently doing), but they are constrained in terms of where they can spend the CNY (basically limited to Chinese manufactured goods and semiconductors).

Note: it would be better if trade is conducted in this way - China paid Russian in russian currency when purchasing oil; Russia paid China in ren min bi when purchasing things. This way, there is no sluggish money if there is nothing you want from the country (generally due to quality disparity).

2. secure payments channels (basically high-speed, encrypted digital pipes for authenticated message traffic)

3. digital ledgers and an agreed issuer

Note: digital payment system and digital ledgers are no longer secured like before. There are cases here where scammers hacked into phones, system of banks to transfer money from fixed deposit away, or saving accounts. Ledgers and every document in a computer or system can be hacked to alter info as wish.

Therefore, something traditional is required. For ledgers, document like invoice, purchase order, proof of payment, receipt in printed form should not be ommitted. If book keeping is by country, things would become simpler.  

4. It would work like currency union Euro

Note: EU made a mistake by taking all across the strip in, rich or poor, small country or big, before they are ready.

Shall BRICS take in all without entry bar....

We can deduce that BRICS is merely repeating what was there before, systems faltering with flaw, adjusting now and then by force, causing inflation and regressing living standard etc.

Shall they carry on, the crush would be massive. It is simply owing to size of population involved, exchangeable goods produced by countries involved, disparity in mentality like EU, etc.

 

Nothing much to watch for. Copy- paste system? Then the failure would be the same, yes?"