Monday, August 2, 2021

India-China-Russia Stand Against Trump’s Unilateralism at BRICS Summit?

The 10th BRICS Summit will be hosted by South Africa in the next week. Experts believe that given the threats arising from the unilateralism and protectionism from the US, this BRICS summit will witness a greater urge among member nations, especially India, Russia and China to deepen cooperation and mutual trust. 

BRICS is an economic forum which includes Brazil, Russia, India, China and South Africa as its members. The main objective of the BRICS is to establish mutual cooperation among member nations for development and financial assistance. The BRICS was founded in 2006 but South Africa became a permanent member of the economic group only in 2010.

Will BRICS become an Anti-US Block?

As reported by Global Times, the five member nations of the BRICS will need to establish a wider industrial cooperation to fight unilateralism and protectionism of the west, specifically the US. Experts feel that this year the nations in BRICS face greater threats and hence the situation is totally different this year. BRICS must look to resist the common threats. This is a crucial time for almost every emerging economy in the world facing oppression from the unilateral approach of the US.

China will have a leader’s role to play at the 10th BRICS Summit

The US-China trade war is perhaps one of the biggest trade wars in history. China’s economy will be hit the worst given this trade war hence, China will have a leader’s role to play at the summit. Chinese media has already confirmed that the Chinese President will be present at the summit in South Africa.

Japan and EU join hands to counter Donald Trump’s unilateralism

As reported earlier by EurAsian Times, Japan and the European Union (EU) signed a free trade deal thus hitting out at Donald Trump’s unilateralism and protectionism. This wide-ranging free trade deal between Japan and the European Union was signed at a ceremony in Tokyo.

The President of the European Council, Donald Tusk and the President of the European Union, Jean Claude Juncker were both present in Tokyo and signed the deal with Japan’s Prime Minister Shinzo Abe.

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