The China Mail - BRICS nations to gather without Xi, Putin

USD -
AED 3.672496
AFN 66.087001
ALL 81.825228
AMD 381.17665
ANG 1.790403
AOA 917.000075
ARS 1450.5246
AUD 1.48977
AWG 1.80025
AZN 1.698689
BAM 1.656664
BBD 2.012426
BDT 122.094082
BGN 1.657805
BHD 0.377138
BIF 2947.99524
BMD 1
BND 1.283877
BOB 6.928886
BRL 5.518398
BSD 0.999183
BTN 89.619713
BWP 13.15133
BYN 2.898742
BYR 19600
BZD 2.009546
CAD 1.366965
CDF 2200.00001
CHF 0.786725
CLF 0.023072
CLP 905.109972
CNY 7.028503
CNH 7.007685
COP 3756.03
CRC 494.085459
CUC 1
CUP 26.5
CVE 93.400985
CZK 20.59155
DJF 177.923282
DKK 6.334895
DOP 62.351501
DZD 129.754972
EGP 47.594014
ERN 15
ETB 155.671225
EUR 0.848119
FJD 2.269196
FKP 0.741553
GBP 0.74011
GEL 2.684992
GGP 0.741553
GHS 11.315768
GIP 0.741553
GMD 74.498901
GNF 8732.259554
GTQ 7.654874
GYD 209.035504
HKD 7.776395
HNL 26.337389
HRK 6.3889
HTG 130.93786
HUF 330.670501
IDR 16749
ILS 3.18656
IMP 0.741553
INR 89.74885
IQD 1308.864823
IRR 42125.000272
ISK 125.510033
JEP 0.741553
JMD 159.779428
JOD 0.708965
JPY 155.914501
KES 128.906315
KGS 87.450268
KHR 4004.015027
KMF 418.000409
KPW 900.017709
KRW 1448.98028
KWD 0.30718
KYD 0.832652
KZT 508.976634
LAK 21642.315674
LBP 89468.428408
LKR 309.301055
LRD 176.849024
LSL 16.677678
LTL 2.95274
LVL 0.60489
LYD 5.406733
MAD 9.113179
MDL 16.814467
MGA 4562.222326
MKD 52.18796
MMK 2099.828827
MNT 3555.150915
MOP 8.004642
MRU 39.846175
MUR 45.969836
MVR 15.450078
MWK 1732.560257
MXN 17.89805
MYR 4.04498
MZN 63.909814
NAD 16.678878
NGN 1452.100803
NIO 36.770529
NOK 9.997805
NPR 143.390665
NZD 1.71111
OMR 0.384496
PAB 0.999183
PEN 3.363135
PGK 4.313189
PHP 58.734001
PKR 279.890137
PLN 3.57493
PYG 6807.757303
QAR 3.652011
RON 4.315598
RSD 99.565987
RUB 78.252701
RWF 1455.320122
SAR 3.750907
SBD 8.153391
SCR 13.902243
SDG 601.498789
SEK 9.15869
SGD 1.28377
SHP 0.750259
SLE 24.074957
SLL 20969.503664
SOS 569.981323
SRD 38.319974
STD 20697.981008
STN 20.752775
SVC 8.742424
SYP 11056.879194
SZL 16.676761
THB 31.030504
TJS 9.192371
TMT 3.51
TND 2.915832
TOP 2.40776
TRY 42.849903
TTD 6.796746
TWD 31.413499
TZS 2477.196967
UAH 42.073075
UGX 3610.135825
UYU 39.024018
UZS 12045.08011
VES 288.088835
VND 26312.5
VUV 121.140543
WST 2.788621
XAF 555.62972
XAG 0.013823
XAU 0.000223
XCD 2.70255
XCG 1.800748
XDR 0.691025
XOF 555.62972
XPF 101.019427
YER 238.450043
ZAR 16.633503
ZMK 9001.199493
ZMW 22.580713
ZWL 321.999592
  • RBGPF

    1.0400

    81.26

    +1.28%

  • SCS

    0.0200

    16.14

    +0.12%

  • CMSC

    0.0500

    23.06

    +0.22%

  • RYCEF

    0.2000

    15.56

    +1.29%

  • BCC

    1.5800

    74.81

    +2.11%

  • VOD

    0.0340

    13.094

    +0.26%

  • BCE

    0.1600

    22.89

    +0.7%

  • NGG

    0.1550

    77.395

    +0.2%

  • RELX

    -0.0650

    41.065

    -0.16%

  • RIO

    -0.4400

    80.53

    -0.55%

  • JRI

    0.0400

    13.45

    +0.3%

  • AZN

    0.4500

    92.59

    +0.49%

  • GSK

    0.0600

    48.91

    +0.12%

  • CMSD

    0.0050

    23.025

    +0.02%

  • BTI

    0.1700

    57.21

    +0.3%

  • BP

    -0.2260

    34.354

    -0.66%

BRICS nations to gather without Xi, Putin
BRICS nations to gather without Xi, Putin / Photo: © AFP

BRICS nations to gather without Xi, Putin

BRICS leaders will meet in Rio de Janeiro from Sunday, with the bloc depleted by the absence of China's Xi Jinping, who is skipping the annual summit of emerging economies for the first time in 12 years.

Text size:

The grouping -- often seen as a Chinese-driven counterbalance to Western power -- meets as members face imminent and costly tariff wars with the United States.

Conceived two decades ago as a forum for fast-growing economies, the BRICS have come to be dominated by Beijing, which grew much faster and larger than the rest.

China has not said why Xi will miss the summit, a first since he became president in 2012.

"I expect there will be speculation about the reasons for Xi's absence," said Ryan Hass, a former China director at the US National Security Council who is now with the Brookings Institution think tank.

"The simplest explanation may hold the most explanatory power. Xi recently hosted Lula in Beijing," said Hass.

The Chinese leader will not be the only notable absentee. War crime-indicted Russian President Vladimir Putin is also opting to stay away, but will participate via video link, according to the Kremlin.

So too will Iran's President Masoud Pezeshkian, whose nation is still reeling from a 12-day conflict with Israel.

Hass said that Putin's non-attendance and the fact that India's prime minister will be a guest of honor in Brazil could also be factors in Xi's absence.

"Xi does not want to appear upstaged by Modi," who will receive a state lunch, he said.

"I expect Xi's decision to delegate attendance to Premier Li (Qiang) rests amidst these factors."

Still, the Xi no-show is a blow to host President Luiz Inacio Lula da Silva, who wants Brazil to play a bigger role on the world stage.

In the year to November 2025, Brazil will have hosted a G20 summit, a BRICS summit, and COP30 international climate talks, all before heading into fiercely contested presidential elections next year.

Lula is expected to run again for an unprecedented fourth term in office.

- 'Cautious tone' -

For BRICS leaders who do make the trip to the "cidade maravilhosa" -- the marvelous city -- the economy will be top of the agenda.

Lula on Friday defended the idea of finding an alternative to the dollar for trade among BRICS nations.

"I know it is complicated. There are political problems," Lula said at a BRICS banking event. "But if we do not find a new formula, we are going to finish the 21st century the way we started the 20th."

But with many, including China, locked in difficult trade negotiations with the United States, they may be wary of roiling the mercurial US president.

President Donald Trump has warned that starting Friday, countries will receive letters stating the amount their exports to the United States will be tariffed.

He has also threatened to impose 100 percent tariffs on countries that challenge the dollar's international dominance.

"We're anticipating a summit with a cautious tone: it will be difficult to mention the United States by name in the final declaration," Marta Fernandez, director of the BRICS Policy Center at Rio's Pontifical Catholic University, told AFP.

This is particularly the case for China, she said: "This doesn't seem to be the right time to provoke further friction" between the world's two leading economies.

On a range of other issues, from the Middle East to climate, BRICS members will have to overcome deep-seated differences.

- Consensus-building difficult -

Original members of the bloc Brazil, Russia, India, and China have been joined by South Africa and, more recently, by Saudi Arabia, Iran, the United Arab Emirates, Egypt, Ethiopia, and Indonesia.

Analysts say that it has given the grouping more potential international punch. The BRICS now represent nearly half of the world's population and 40 percent of its GDP.

But it has also opened many new fault lines, not least over how strongly to challenge the United States.

This expansion "makes it all the more difficult to build a strong consensus," said Fernandez.

BRICS members did not issue a strong statement on the Iran-Israel conflict and subsequent US military strikes due to their "diverging" interests, according to Oliver Stuenkel, a professor of international relations at the Getulio Vargas Foundation.

Brazil, nevertheless, hopes that countries can take a common stand at the summit, including on the most sensitive issues.

"BRICS (countries), throughout their history, have managed to speak with one voice on major international issues, and there's no reason why that shouldn't be the case this time on the subject of the Middle East," Brazil's Foreign Minister Mauro Vieira told AFP.

Artificial intelligence and global governance reform will also be on the menu.

D.Pan--ThChM