BRICS shows its usefulness, despite clear limitations - Nikkei Asia

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BRICS shows its usefulness, despite clear limitations - Nikkei Asia

Quick Summary

For example, the New Development Bank established by the BRICS nations, which has disbursed loans of over $25 billion worldwide, is equitably structured and not a handmaiden of China.

When BRICS was first conceived in 2006, China was perceived as a softer power that was one among a dozen or so fellow emerging market economies. But today, China has well and truly emerged, with no peer except the U.S.

In these circumstances, India's rationale for staying in BRICS is not to validate China's international leadership.

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Article Details

Author / Journalist: Sreeram Chaulia

Category: InvestingFinanceAsia

Topics: Brics Ukraine China Countries Chinese India Summit Russia Africa South

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-22, 20:00:00

News Timezone: GMT +9:00

News Source URL:

Language: English

Reading Time: 6 minutes read

Article Length: 995 words

Coverage Area: Japan

Availability: Desktop Web, Mobile Web

News ID: 4330

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About Nikkei Asia

Nikkei Asia Logo

Main Topics: InvestingFinanceAsia

Official Website:

Update Frequency: 12 posts per day

Year Established: 1876

Headquarters: Japan

Last Updated: 10h ago

Coverage Areas: Japan

Ownership: Independent Company

Publication Timezone: GMT +9:00

Languages Covered: English

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Website Security: Secure (HTTPS)

Publisher ID: #19

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