The emerging market bloc that wants to shake up the world order

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The emerging market bloc that wants to shake up the world order
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Mounting their most ambitious challenge yet to the status quo.

  • 📰 Moneyweb
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The world’s leading emerging market powers have complained for years about being sidelined by wealthy nations. Now they are mounting their most ambitious challenge yet to the status quo. The Brics bloc — Brazil, Russia, India, China and South Africa — will use an annual leaders’ summit in Johannesburg this week to begin the process of enlisting more members to bolster its global heft, a push driven mainly by Chinese President Xi Jinping but also backed by Russia and South Africa.

Russian President Vladimir Putin is staying away from this year’s summit because he faces a war-crimes arrest warrant from the International Criminal Court, of which host South Africa is a member. He will participate remotely. The gathering will give him another opportunity to present his narrative of the Ukraine invasion directly to leaders from the Global South, many of whom have been sympathetic to his accounts in the past.

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Moneyweb /  🏆 5. in KR
 

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