Berliner Boersenzeitung - US sees wake-up call, if not threat, as BRICS bloc expands

EUR -
AED 4.073781
AFN 72.102275
ALL 90.815588
AMD 405.295141
ANG 1.985347
AOA 1018.305674
ARS 1714.145039
AUD 1.619697
AWG 1.996678
AZN 1.888603
BAM 1.956162
BBD 2.259818
BDT 139.885901
BGN 1.938808
BHD 0.423273
BIF 3356.42148
BMD 1.109265
BND 1.434366
BOB 13.307124
BRL 6.168516
BSD 1.121993
BTN 105.444524
BWP 15.392642
BYN 3.359422
BYR 21741.601709
BZD 2.256518
CAD 1.580493
CDF 2567.948903
CHF 0.924473
CLF 0.027737
CLP 1091.639343
CNY 7.399188
CNH 7.402938
COP 3658.024487
CRC 507.487105
CUC 1.109265
CUP 26.927986
CVE 110.29089
CZK 24.385869
DJF 199.796995
DKK 7.4758
DOP 68.05168
DZD 151.761054
EGP 59.400834
ERN 16.638981
ETB 182.613944
FJD 2.513149
FKP 0.83271
GBP 0.835637
GEL 2.883876
GGP 0.83271
GHS 13.138433
GIP 0.83271
GMD 82.085701
GNF 9939.885288
GTQ 8.574013
GYD 235.115192
HKD 8.701977
HNL 30.159176
HRK 7.508629
HTG 147.067894
HUF 364.925579
IDR 20176.761018
ILS 3.521751
IMP 0.83271
INR 103.973719
IQD 1701.006968
IRR 2114343.034607
ISK 136.60605
JEP 0.83271
JMD 178.070564
JOD 0.786493
JPY 177.336055
KES 145.790624
KGS 97.004811
KHR 4575.8679
KMF 490.295319
KPW 998.338811
KRW 1482.821284
KWD 0.345404
KYD 0.934973
KZT 500.922752
LAK 25254.676195
LBP 100474.103941
LKR 372.879043
LRD 190.735317
LSL 18.394106
LTL 3.275373
LVL 0.670983
LYD 7.192332
MAD 10.945269
MDL 20.161733
MGA 5076.87139
MKD 61.553635
MMK 2329.175069
MNT 3997.186781
MOP 9.066069
MRU 45.260769
MUR 52.323403
MVR 17.081233
MWK 1945.53393
MXN 20.64576
MYR 4.517593
MZN 70.884571
NAD 18.394106
NGN 1493.038231
NIO 41.287645
NOK 10.594369
NPR 168.708957
NZD 1.993378
OMR 0.42652
PAB 1.122063
PEN 3.823808
PGK 5.038865
PHP 70.303034
PKR 308.064276
PLN 4.414482
PYG 6926.282481
QAR 4.09016
RON 5.346881
RSD 117.595453
RUB 92.152202
RWF 1659.984918
SAR 4.169854
SBD 8.974786
SCR 15.519656
SDG 667.222025
SEK 11.070325
SGD 1.42524
SHP 0.831191
SLE 25.398021
SLL 23260.745543
SOS 641.210057
SRD 41.759385
STD 22959.554043
STN 24.504206
SVC 9.817818
SYP 14422.668294
SZL 18.399158
THB 37.469322
TJS 10.311667
TMT 3.882429
TND 3.344085
TOP 2.670845
TRY 55.720289
TTD 7.609409
TWD 36.479193
TZS 2952.181217
UAH 51.030959
UGX 4578.074675
USD 1.109265
UYU 45.400658
UZS 13435.487736
VES 998.882953
VND 28457.649032
VUV 132.909061
WST 3.091588
XAF 655.957
XAG 0.021344
XAU 0.000277949726
XCD 2.997845
XCG 2.022184
XDR 0.784308
XOF 655.957
XPF 119.331742
YER 262.334988
ZAR 18.409202
ZMK 9984.718908
ZMW 22.860233
ZWL 357.183004
SSP 6373.170625
MXV 2.319752
  • CMSD

    -0.1200

    19.81

    -0.61%

  • JRI

    0.0000

    10.77

    0%

  • BCC

    -1.8200

    74.15

    -2.45%

  • CMSC

    -0.2228

    19.53

    -1.14%

  • BCE

    0.2000

    20.34

    +0.98%

  • RIO

    0.0100

    94.17

    +0.01%

  • AZN

    -2.7400

    161.47

    -1.7%

  • GSK

    -1.1800

    48.17

    -2.45%

  • RBGPF

    0.0000

    65

    0%

  • NGG

    0.8800

    75.82

    +1.16%

  • RYCEF

    -0.7300

    19.08

    -3.83%

  • BTI

    -0.4500

    54.4

    -0.83%

  • BP

    0.4700

    43.99

    +1.07%

  • RELX

    -0.0600

    33.18

    -0.18%

  • VOD

    -0.1800

    16.15

    -1.11%

US sees wake-up call, if not threat, as BRICS bloc expands
US sees wake-up call, if not threat, as BRICS bloc expands / Photo: Phill Magakoe - AFP/File

US sees wake-up call, if not threat, as BRICS bloc expands

The United States is racing to improve its messaging to the developing world as the BRICS group grows, although few in Washington view an immediate threat from the Chinese-backed club.

Text size:

The BRICS -- Brazil, China, India, Russia and South Africa -- agreed at a summit last week to add six more members, in what Chinese President Xi Jinping billed as a historic moment among large emerging economies contesting the Western-led order.

As the BRICS leaders met in Johannesburg, President Joe Biden's administration renewed promises to step up funding for the developing world through the World Bank and International Monetary Fund.

Biden's national security advisor, Jake Sullivan, vowed to fight to reform the Washington-based lenders at an upcoming summit in New Delhi of the Group of 20 -- boosting the roles both of the US-backed organization, which brings together both rich and poor nations, and of India, a key member of both clubs.

The United States has also been highlighting Russia's withdrawal from a UN-backed deal to allow grain exports from Ukraine to the developing world, where some countries have questioned the Western priority of sending billions of dollars in weapons to Kyiv.

Publicly, Washington played down the BRICS expansion, saying only that countries can choose their own partners.

Sullivan, noting the wide policy differences among the countries, earlier told reporters, "We are not looking at the BRICS as evolving into some kind of geopolitical rival to the United States or anyone else."

- 'Alternatives, not replacements' -

But experts said the BRICS expansion at least showed demand for a new way to address unmet needs, on the economic if not security front.

Emerging nations are "looking for alternatives, not replacements" to the US-led order, said Sarang Shidore, director of the Global South program at the Quincy Institute, which advocates a less military-focused US foreign policy.

"It's a message to the United States that these gaps are hurting and our countries are not just complaining about them or carping from the sidelines, but actually taking action to try and fill these gaps," he said.

A BRICS summit statement pointed to the breakdown of the World Trade Organization's dispute settlement system, where Washington since Donald Trump's presidency has blocked appointments as it alleges unfair treatment.

Biden has ramped up climate action at home but, faced with opposition from Trump's Republican Party, the United States -- the largest historical carbon emitter and second currently to China -- is unlikely to come close to the president's promises of more than $11 billion a year by 2024 to help developing countries hardest hit by climate change.

"I think the US is starting to take it seriously," Shidore said of developing countries' concern. "But those are statements -- is there money attached to it?"

- Even less cohesive? -

For Washington, the most concerning addition to the BRICS is Iran, which has hailed membership as a way to break out of US-driven isolation over the clerical state's contested nuclear work and clampdown on protesters.

But the new members do not see eye to eye. Also joining are three Arab countries with historically rocky ties with Iran -- Egypt, Saudi Arabia and the United Arab Emirates.

Tensions also divided the original BRICS. China has a difficult relationship with India, which has been warming to the United States while insisting on "strategic autonomy."

While the BRICS statement backed reform of the UN Security Council, a major priority for India and Brazil, few expect veto-wielding China and Russia to dilute their power willingly.

Henry Tugendhat, an economist at the US Institute of Peace, said that China in promoting the expansion had inadvertently made the BRICS even less cohesive -- more akin to the G20 than the Group of Seven, the club of major industrial democracies that largely share principles.

"What's striking is that they there are many issues in which they do not align," he said of the G20.

Conspicuously absent from the BRICS expansion was any Southeast Asian country -- despite Indonesia's leadership in the Cold War-era Non-Aligned Movement -- at a time that China has been increasingly assertive on maritime disputes.

Colleen Cottle, a former CIA analyst now at the Atlantic Council, said that for China, BRICS expansion was "more about the rhetoric" of showing that developing countries were rallying to its side, rather than concrete plans to work together.

Still, she said, the BRICS expansion showed the demand for change.

The United States, she said, needs a more effective strategy than its oft-stated insistence on working with "like-minded countries" -- but also is unlikely to find success just replicating China's approach of raw infrastructure spending.

"You need to have the whole package -- the articulated long-term vision as well as the concrete funds to back it up," she said.

(L.Kaufmann--BBZ)