Putin Participating at BRICS Summit
The leaders of over 40 countries are currently attending the 15th BRICS Summit in Johannesburg. All leaders of the BRICS nations (Brazil, Russia, India, China, and South Africa) are attending in person, except Russian President Vladimir Putin who took part via videoconference. South Africa is the host of the BRICS summit this year.
Key Points:
- The BRICS countries have a greater share in global GDP than the G7.
- BRICS countries have doubled their investment in the global economy over the past decade.
- BRICS Strategy focuses on diversification of supply chains, de-dollarization, digital economy, support for small and medium-sized businesses, and fair technology transfer.
- Putin emphasizes the importance of shaping a multipolar world order based on international law and opposing hegemonies.
- Efforts are being made to de-dollarize economic ties within BRICS.
Hot Take: The BRICS Summit is a platform for leaders to discuss important economic and geopolitical issues. Putin’s remarks highlight the increasing influence and potential of the BRICS countries, as well as their commitment to a multipolar world order. The focus on de-dollarization reflects a desire to reduce reliance on the US dollar in international transactions and strengthen economic ties within the BRICS bloc.
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