All eyes are on a possible Xi-Modi meeting as PM reaches S. Africa today
All eyes are on whether Indian Prime Minister Narendra Modi would speak with Chinese President Xi Jinping in a bid to settle the three-year standoff along the Line of Actual Control (LAC) as he arrives in South Africa on Tuesday for the 15th BRICS conference in Johannesburg.
Where is the recent BRICS Meeting being held?
- The 15th annual meeting of the BRICS countries—Brazil, Russia, India, China, and South Africa—will take place at the 2023 BRICS summit.
- These five member states’ leaders of state or government attend this summit, which doubles as a conference on international relations.
Invitations and the Host:
- The 2023 BRICS summit will be hosted by Cyril Ramaphosa, the president of South Africa.
- The leaders of 67 nations received invites to the conference from President Ramaphosa.
- A substantial number of African leaders were invited to the summit, demonstrating the summit’s strong emphasis on involving African countries.
- This demonstrates the significance of BRICS interaction with Africa.
- In addition to the core BRICS member states, other countries with strategic and regional importance were also invited to the summit.
- The invitation of nations from a variety of continents, including South America and Asia, underscores the geopolitical relevance of the BRICS as a forum for cooperation and communication.
What is BRICS?
- Formation and Expansion: Jim O’Neill of Goldman Sachs first used the acronym “BRIC” in 2001 to describe the developing economies of Brazil, Russia, India, and China. In 2010, South Africa joined the group, transforming it into BRICS. Despite having become a more unified geopolitical bloc, their original goal was to showcase investment opportunities.
- Size and Population: The BRICS countries account for around 26.7% of the earth’s land area and 41.5% of the world’s population, with a combined size of 39,746,220 km2 and a population of about 3.21 billion.
- Economic Power: In terms of population, area, and GDP (PPP), Brazil, Russia, India, and China are among the greatest nations in the world. These nations are regarded as either established or rising superpowers, and their total nominal GDP represents around 26.6% of the world’s GDP.
- Annual Summits: To discuss and coordinate multilateral policy, the BRICS governments hold annual summits. China hosted the 14th BRICS summit in July 2022, which was the most recent gathering.
- Geopolitical Rivalry: The G7, which is made up of the top advanced economies, frequently sees the BRICS as a geopolitical opponent. The New Development Bank, the Contingent Reserve Arrangement, the BRICS payment system, the BRICS Joint Statistical Publication, and the BRICS basket reserve currency are only a few of the BRICS’s competing projects that have been launched.
- Mutual Benefit and Non-Interference: The BRICS countries handle bilateral relativised one of equality, mutual benefit, and non-interference.
How is this meeting going to be important for India and China?
- Border disputes and resolution in the LAC
- striving to find a peaceful solution along the Line of Actual Control (LAC) and address the ongoing border standoff.
- discussing ways to defuse tensions, withdraw, and keep the border area peaceful.
- Foreign Relations:
- reviewing the general state of bilateral ties and looking into measures to make them stronger.
- locating areas of cooperation and shared interest.
- Economic and trade cooperation:
- encouraging investment and trade between China and India.
- investigating measures to improve economic cooperation, such as lowering trade obstacles and promoting more seamless trade connections.