Highlights of the BRICS Meeting in Kazan, Russia

BRICS is an intergovernmental organization comprising Brazil, Russia, India, China, South Africa, Iran, Egypt, Ethiopia, and the United Arab Emirates. It is a geopolitical bloc, with governments meeting annually at formal summits to coordinate multilateral policies.

This year's meeting in Kazan, Russia, has brought up some interesting developments, which I would like to present to you, my esteemed reader.

The Portuguese UN Secretary-General, António Guterres, attended a summit hosted by Vladimir Putin, a man who did not participate in the previous BRICS meeting to avoid being arrested under an international arrest warrant. I wonder whether the UN Secretary-General is unaware of the political implications of this or if he knowingly chooses to support the Russian dictator.

In any case, I do not believe his visit enhances the respect for the UN among people in Western countries. However, I am certain his popularity will rise in some other parts of the world.

President Vladimir Putin presented a symbolic BRICS currency proposal. However, the head of Russia's Central Bank, Elvira Nabiullina, was not in favor of the idea.

I can’t help but wonder how long it will take before Nabiullina's body is found under a window somewhere in Russia. That seems to be the fate of Russians who disagree with Mr. Putin.

Venezuelan dictator Nicolás Maduro declared that “Venezuela is part of this BRICS family. We apply the principles of BRICS with historical conviction. The time has come for a balanced world, which is multipolar and multicentric. BRICS can count on Venezuela and on the full revolutionary strength of our historical project.”

Given the collapse of the Venezuelan currency - the Bolivar - it is clear that anything would be an improvement in terms of stability. On the other hand, Venezuela's inclusion could have a highly negative effect on any new currency. It will be interesting to see if, for example, China would be willing to join a currency shared with Venezuela.

Finally, it is worth noting a prime example of a kind of transparent dishonesty heard at the meeting. It was said by Putin, who, without batting an eye and without acknowledging his own guilt, rambled on that "unfortunately, there are many armed conflicts on our planet, including at Russia's borders. It is truly unfortunate that there is this armed conflict in Ukraine."

Previous thoughts on the same topic:
Resisting Putin’s Foolish Dreams
Does China prove the superiority of market economy?
Lessons from Venezuela

Resisting Putin’s Foolish Dreams

Russia is hosting the BRICS summit in Kazan, Russia. The host nation's president, Vladimir Putin indirectly acknowledged his secondary role by referring to China's president, Xi Jinping, as his dear friend.

According to Putin, cooperation between China and Russia is one of the most important factors in "balancing the world". This claim is, of course, at the very least, interesting given Russia’s invasion of Ukraine and China’s posturing toward Taiwan and Japan.

Putin also wanted to paint visions of the future, like something out of a sci-fi movie. He stated that "we will continue to work with China to establish a new fair world order." A sentence somewhat reminiscent of how Adolf Hitler and Benito Mussolini might have phrased things in the late 1930s.

The positive aspect, however, is that Putin does not have the power to reshape the world order. And China likely has no desire even for a trade war now, considering its own economic struggles. Sure, some other BRICS countries—like South Africa or Iran—might be willing to side with Putin, but they don't hold significant weight in the bigger picture.

In this situation, it's important that the major Western nations stay united, both after the U.S. presidential elections and as anti-immigration parties in Europe grow more influential with each election, while also avoiding unnecessary provocation of China despite staying tough. Only by doing so can we ensure that BRICS leaders don’t get any ideas about pursuing Putin’s foolish dreams. 

Previous thoughts on the same topic:
Vladimir Putin is Leading Russia into an Economic Ruin
Western Countries Must Stay United Against the Russian Threat
Rising Trade Tensions Between the EU and China