{"id":4293,"date":"2024-10-28T16:44:11","date_gmt":"2024-10-28T16:44:11","guid":{"rendered":"https:\/\/storylinegh.com\/?p=4293"},"modified":"2024-10-28T16:44:12","modified_gmt":"2024-10-28T16:44:12","slug":"brics-summit-in-kazan-a-turning-point-for-global-economics","status":"publish","type":"post","link":"https:\/\/storylinegh.com\/index.php\/2024\/10\/28\/brics-summit-in-kazan-a-turning-point-for-global-economics\/","title":{"rendered":"BRICS SUMMIT IN KAZAN: A TURNING POINT FOR GLOBAL ECONOMICS"},"content":{"rendered":"\n

The BRICS summit taking place in Kazan from October 22 to 24 has captured global attention as the coalition aims to reshape the international economic landscape.<\/strong> Following a significant expansion this year, BRICS now represents nearly half of the world’s population and more than a quarter of global GDP, underscoring its growing political and economic influence.<\/p>\n\n\n

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BRICS leaders gather for a group photo prior to the plenary session of the 2024 summit in Kazan, Russia<\/em><\/figcaption><\/figure>\n<\/div>\n\n\n

This summit is particularly critical, with key discussions focused on decreasing dependence on the US dollar and exploring alternatives to the SWIFT payment system. However, persistent tensions among member nations complicate these efforts. Strained relations between India and China, alongside regional rivalries between Iran and Saudi Arabia, highlight the internal challenges that BRICS must navigate. Additionally, Egypt and Ethiopia are facing their own disputes, raising concerns about the coalition\u2019s unity in pursuing its objectives.<\/p>\n\n\n\n

A central theme of this year’s agenda is the proposed introduction of a new international payment system to challenge SWIFT’s dominance. While the emerging economies within BRICS may not yet be in a position to rival the International Monetary Fund or fully achieve de-dollarization, the summit has showcased their increasing political and diplomatic power on the world stage.<\/p>\n\n\n\n

The summit has also yielded notable diplomatic progress, with Turkey expressing interest in BRICS membership and Pakistan’s Finance Minister affirming a desire for his country to join. Russian President Vladimir Putin noted that over 30 countries have submitted applications, with 13 officially declaring partnerships. Additionally, the summit has facilitated dialogue between India and China, leading to an agreement on military disengagement at their contentious border, suggesting a potential thaw in relations.<\/p>\n\n\n

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Vladimir Putin addresses attendees during the plenary session of the BRICS forum<\/em><\/figcaption><\/figure>\n<\/div>","protected":false},"excerpt":{"rendered":"

The BRICS summit taking place in Kazan from October 22 to 24 has captured global attention as the coalition aims to reshape the international economic<\/p>\n","protected":false},"author":123462,"featured_media":4294,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[46,139,4,104],"tags":[],"class_list":["post-4293","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-destinations","category-international","category-news","two-columns"],"yoast_head":"\nBRICS SUMMIT IN KAZAN: A TURNING POINT FOR GLOBAL ECONOMICS - Storyline<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/storylinegh.com\/index.php\/2024\/10\/28\/brics-summit-in-kazan-a-turning-point-for-global-economics\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BRICS SUMMIT IN KAZAN: A TURNING POINT FOR GLOBAL ECONOMICS - 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