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Official Hints China Could Pit Expanded BRICS Against G7

[Aug 22, 2023 11:30 AM] China may be in the process of building an expanded BRICS to pit the bloc as a geopolitical rival for the Group of Seven (G7) nations, as per statements from a Chinese official. In its upcoming summit that will take place in Johannesburg, the bloc…

Dutch ING Bank Analysts: BRICS Expansion to Power De-Dollarization Across World Economies

[Aug 22, 2023 2:00 AM] Analysts of ING bank believe the de-dollarization trend that has been growing in the world might pick up momentum due to the possible expansion of the BRICS bloc. While the issuance of a BRICS common currency remains uncertain, according to some…

Over 40 Heads of State Will Attend BRICS Summit, South Africa Confirms

[Aug 21, 2023 8:00 PM] South Africa, the host of the BRICS summit this year, has confirmed that more than 40 heads of state will participate in the summit that will take place on Aug. 22-24. South Africa has also claimed that 23 countries have formally applied for BRICS…

Volatility in Chinese Yuan, Russian Ruble Makes De-Dollarization Harder, Market Analyst Says

[Aug 20, 2023 8:30 PM] A market analyst says that the recent decline and volatility in the Chinese yuan, the Russian ruble, and to a lesser extent the Argentine peso, “will only add further challenges to the idea of de-dollarization.” He stressed that countries are…

BRICS Bank Could Issue Digital Currency for the Economic Bloc, Analyst Says

[Aug 20, 2023 6:30 PM] A Trace Finance analyst has suggested that the BRICS nations could launch a single digital currency issued and regulated by the New Development Bank, also known as the BRICS Bank. He stressed that the U.S. is facing the biggest crisis in history…

Morocco Denies South Africa’s Claim That It Has Applied to Join BRICS: Report

[Aug 20, 2023 12:30 AM] Morocco has reportedly denied the claim made by South Africa, the host of the BRICS summit this year, that it has formally applied to join the economic bloc. According to South African officials, over 40 countries are interested in joining the…

BRICS Expansion Will Speed Up De-Dollarization, Chinese Expert Says

[Aug 19, 2023 8:30 PM] As more countries join the BRICS economic bloc, there will be a significant increase in settlements using national currencies, leading to an acceleration in the de-dollarization process, a Chinese expert says. “For most developing countries…

Economist Lord Jim O’Neill Calls BRICS Currency Idea ‘Ridiculous’ — Says China and India Never Agree on Anything

[Aug 19, 2023 6:30 PM] Lord Jim O’Neill, the British economist credited with coining the acronym BRIC, calls the creation of a common BRICS currency “ridiculous,” emphasizing that the BRICS nations have “never achieved anything since they first started meeting.” H

BRICS Bank Issues First ZAR Bonds as It Looks to Use Local Currencies

[Aug 18, 2023 2:00 AM] The New Development Bank (NDB), established by the BRICS bloc of emerging economies, has issued its first bonds denominated in South African rand (ZAR). The auction, which was closed on Tuesday, is part of the bank’s efforts to increase both…

BRICS Summit Looms: Expert Warns of ‘Dramatic’ Shifts, US Dollar’s Wane, and Wall Street’s Blind Spots

[Aug 17, 2023 10:30 PM] Market expert Peter Grandich is urging the masses to keep a close eye on the BRICS bloc of burgeoning countries, hinting that specific partnerships might usher in “dramatic” ramifications. In just five days, the much-awaited BRICS…

US Dollar to Remain Major Global Currency, South Africa’s BRICS Sherpa Says

[Aug 17, 2023 1:30 AM] BRICS plans to discuss trade in national currencies at its summit but de-dollarization is not on the agenda, South Africa’s BRICS Sherpa stated. The talks in Johannesburg next week will also focus on the expansion of the bloc of emerging economies…

Xi Jinping, Vladimir Putin Advancing China-Russia Strategic Partnership, Says Chinese Official

[Aug 15, 2023 9:30 PM] Chinese leader Xi Jinping and Russian President Vladimir Putin “will continue to advance the China-Russia comprehensive strategic partnership,” according to China’s Ministry of Foreign Affairs. The two leaders are set to participate in next…

BRICS Is No Joke, Bloc Could Become G7 Counterpart, Experts Say

[Aug 14, 2023 3:00 AM] The BRICS challenge to the world’s established economic order is not a joke, according to experts in the field of international relations. Now that the bloc, which unites leading emerging markets, accounts for over a quarter of the global gross…

BRICS Expansion to Make West Recognize New World Order, De-Dollarization: UAE Professor

[Aug 11, 2023 5:30 PM] The accession of new members will allow BRICS to push the West to accept changes in international relations, an expert from UAE has been quoted as stating. That’s valid in particular for cross-border trade and de-dollarization, said Mohamed El…

23 Countries Apply for BRICS Membership as Leaders Prepare to Convene at Summit

[Aug 8, 2023 9:30 PM] South Africa, the host of the BRICS summit this year, has published a list of 23 countries that have applied to become members of the economic bloc. Moreover, South African President Cyril Ramaphosa has invited 67 leaders and 20 representatives of…

Analyst Discusses US-BRICS Power Shift — Warns of Dollar Dominance Ending

[Aug 8, 2023 5:30 PM] A think tank analyst says the U.S. dollar’s dominance may be coming to an end as countries position themselves for a new international system. “As the reliance on U.S. dollars diminishes, central banks will begin dumping their dollar…

Brazil’s President Reaffirms De-Dollarization Call — Discusses BRICS Expansion

[Aug 7, 2023 9:30 PM] Brazil’s President Luiz Inacio Lula da Silva has reaffirmed his call to shift away from the U.S. dollar in global trade. He also revealed his stance on the expansion of the BRICS economic bloc ahead of the group’s upcoming summit…

Indian Analyst: World War III Already Started, BRICS Could Merge With SCO

[Aug 5, 2023 9:30 PM] The president of a New Delhi-based think tank believes that World War III has already begun. He also anticipates the BRICS economic bloc (Brazil, Russia, India, China, and South Africa) merging with the Shanghai Cooperation Organization (SCO)…

Venezuela Presents Official Request to Join BRICS

[Aug 5, 2023 1:30 AM] The government of Venezuela formalized its proposal to be part of BRICS, a geopolitical and economic bloc comprised of Brazil, Russia, India, China, and South Africa. Venezuelan President Nicolas Maduro explained that he hoped for a positive…

‘Nuances Exist’ Among BRICS Members Regarding Bloc’s Expansion, Kremlin Admits

[Aug 3, 2023 11:30 PM] The enlargement of BRICS will be “near the top of the agenda” at the organization’s summit in August, the Kremlin Spokesman Dmitry Peskov told media. While recognizing the importance of the topic, Peskov indicated that participants in the meeting…

Russia Says BRICS Currency Unlikely in Near Future but De-Dollarization Grows Globally

[Aug 3, 2023 7:30 PM] Russia says that a common BRICS currency is unlikely to be feasible in the near future but the process of de-dollarization of the global economy is inexorably underway. Russian Press Secretary Dmitry Peskov added that many countries, including…

Stablecoins: A Potential Counter to De-Dollarization

[Aug 3, 2023 7:44 AM] Demand for greenbacks in the global economy is increasingly flowing into permissionless stablecoins, even as domestic policies and foreign efforts like a BRICS-issued currency could erode the U.S. dollar's overall dominance.

Iran Increases Efforts to Join BRICS, Strengthen Ties With Member Countries

[Jul 31, 2023 11:30 PM] Iran has ramped up its efforts to become a member of the BRICS group ahead of the economic bloc’s summit. The Iranian deputy foreign minister for economic diplomacy revealed that Iran is actively pursuing opportunities to strengthen its…

US Second in World by Debt per Citizen, Rare Bitcoin Block Reward Awakens, BRICS Summit Invites — Week in Review

[Jul 30, 2023 5:30 AM] A recent study has shown that Singapore, the U.S., and Japan rank highest in the world by debt per citizen, according to United Nations data. In other news, a rare 2010 Bitcoin block reward has awakened after 13 years of dormancy, and the BRICS…

Russian Official Says BRICS Currency Could Be Discussed at Upcoming Summit

[Jul 29, 2023 9:30 PM] Russia’s deputy prime minister has stated that the topic of a common BRICS currency may still be on the table at the economic bloc’s upcoming leaders’ summit. A total of 69 leaders, including all African heads of state, have already been…

China Faces Opposition to Rapid BRICS Expansion From India and Brazil, Report

[Jul 29, 2023 3:30 PM] BRICS member states India and Brazil stand in the way of China’s bid to quickly expand the bloc, unveiled a media report. The two nations have different reasons to have reservations about Beijing’s plan to soon increase the organization’s…

Russian President Vladimir Putin Criticizes the ‘Use of the Dollar as a Political Weapon’

[Jul 28, 2023 11:30 PM] Russian President Vladimir Putin has railed against using the dollar as a political weapon in a meeting with the New Development Bank’s president, Dilma Rousseff. Putin stated that this weaponization and the recent developments in global…

South Africa’s Foreign Minister Hints at Expansion of BRICS Bloc With 3 New Members

[Jul 27, 2023 11:30 AM] In a recent interview published on July 26, South Africa’s foreign minister Naledi Pandor highlighted the BRICS group of economies’ commitment to peace, asserting that these nations do not aim to “weaponize the oceans.”…

White House Says US Policy Allows Partners to Seek BRICS Membership

[Jul 26, 2023 6:00 PM] The White House has affirmed that U.S. policy does not ask partners to choose between the U.S. and other countries, including the BRICS nations. “The U.S. does not want to limit countries’ partnership with other countries,” said Press Secretary…

Deeper Ties With BRICS Should Not Jeopardize Relations With the West — South African Business Association Leader

[Jul 26, 2023 4:30 AM] South Africa’s economic well-being is dependent on trade relations with the West, and therefore attempts to bolster relationships with BRICS must not be at the expense of ties to the West, the leader of a South African business association…