BRICS & New World Order Thread

[AssassinsMace]

I thought it was strange where I read an article where Mexico accused China of smuggling finished fentanyl, not the precursor chemicals, into Mexico to sell in the US. I wonder if that was another lie the West was trying to spin because of Mexico entertaining to join BRICS. I'm sure Mexico not being in the US camp is strategically undermining hence why you hear in the US about deploying troops to Mexico in the war on drugs. And why would Mexico accuse that of China?

 

[Strangelove]

Please, Log in or Register to view URLs content!

Saudi Arabia reportedly in talks to join BRICS bank to enhance financial strength amid de-dollarization: experts

By GT staff reporters Published: May 28, 2023 09:22 PM

Photo taken on June 17, 2022 shows the headquarters building of the New Development Bank in Shanghai. (Photo: Xinhua)

The New Development Bank (NDB), also known as the "BRICS bank," is in talks with Saudi Arabia on admitting the Middle Eastern nation as its ninth member, which would strengthen the NDB's funding options amid the impact of the Russia-Ukraine conflict, according to media reports.

"In the Middle East, we attach great importance to the Kingdom of Saudi Arabia and are currently engaged in a qualified dialogue with them," the NDB said in a statement, per the report from the Financial Times.

The NDB was established in 2015 to mobilize resources for infrastructure development and sustainable development projects in the BRICS countries and other emerging economies, according to China's Foreign Ministry.

The BRICS - Brazil, Russia, India, China and South Africa - represent 25 percent of global GDP. They're the founding members, while the UAE, Uruguay, Bangladesh and Egypt were the first batch of new members of the NDB.

Since the NDB' s establishment, the bank has approved more than 90 projects with loans totaling $32 billion, yicai.com reported in October 2022.

Experts noted that Saudi Arabia's potential accession to the NDB will further enhance the capability of BRICS nations to hedge against risks amid the sweeping global wave of de-dollarization.

The NDB has a major role to prevent financial crises in BRICS countries and will be more efficient in crisis assistance, Pan Helin, joint director of the Research Center for Digital Economics and Financial Innovation affiliated with Zhejiang University's International Business School, told the Global Times on Sunday.

Pan added that Saudi Arabia is in stable financial condition with a relatively small risk potential, so its inclusion in the NDB would enhance the financial strength of the BRICS fund pool, while elevating the nations' capability for crisis management and response.

The latest yield on NDB bonds was 5.1 percent, 100 basis points higher than the likes of the World Bank, according to a report from Modern Diplomacy, which also noted that Saudi Arabia's potential inclusion in the NDB will accelerate the economic diversification and development of the nation and reduce its dependence on Western blocs.

Some developing economies are losing confidence in the US dollar amid the dollar crisis, with de-dollarization becoming a consensus among developing countries, and they are seeking an alternative, Dong Dengxin, director of the Finance and Securities Institute of the Wuhan University of Science and Technology, told the Global Times on Sunday.

Saudi Arabia has been reportedly seeking to join the BRICS, which will be discussed by the members at the summit in August, domestic outlet guancha.cn reported.

Zhu Jie, a professor at Fudan University, said that Saudi Arabia can start by applying to join the NDB first before joining the BRICS, adding that the NDB has a strong will to expand its membership, and the conditions in all aspects are relatively available, according to media reports.

China's Foreign Ministry Spokesperson Wang Wenbin said in October 2022 that BRICS leaders reached an important consensus on BRICS expansion and expressed support for the discussion on the standards and procedures of the expansion at the 14th BRICS Summit on June 23, 2022 and many countries expressed the desire to join BRICS cooperation.

Wang noted that China will work with other BRICS members to jointly advance the expansion process so that more partners will join the BRICS family.

 

[luosifen]

 

[KYli]

Please, Log in or Register to view URLs content!

 

[tphuang]

https://twitter.com/i/web/status/1664327060398170112

let's see, Hungary, Serbia & Turkey?

 

[Strangelove]

Please, Log in or Register to view URLs content!

BRICS bank to vote on Argentina’s membership​

Brazil is backing Argentina’s entry into the bank, its head Dilma Rousseff said​

June 1, 2023


The board of the BRICS-led New Development Bank (NDB) will hold a vote for the incorporation of Argentina in August, the entity’s president Dilma Rousseff told Economy Minister Sergio Massa in Shanghai today.

The NDB is a multilateral development bank established by the BRICS states —Brazil, Russia, India, China, and South Africa— to “support public or private projects through loans, guarantees, equity participation, and other financial instruments.”

An Argentine delegation

Please, Log in or Register to view URLs content!

and strengthening the country’s monetary reserves with the BRICS bank was one of the goals, a spokesperson for the Economy Ministry had told the Herald.

Argentina is in serious need of financial assistance due to

Please, Log in or Register to view URLs content!

mainly caused by

Please, Log in or Register to view URLs content!

that will slash between US$ 18.5 and US$ 20 billion in agricultural exports this year, according to different calculations.

In that regard,

Please, Log in or Register to view URLs content!

the International Monetary Fund (IMF) to further lessen Argentina’s program international reserve target, while also looking for the lender to speed up the transfer of disbursements.

Next steps

Rousseff gave Massa the news at the meeting they held at 9 a.m. at NDB headquarters. Massa was joined by the head of the Central Bank, Miguel Ángel Pesce, and National Deputy Máximo Kirchner.

The meeting was about to begin with a presentation by Massa on Argentina’s intention to get indirect financial support from the BRICS, but Rousseff interrupted him amicably to say that she had some good news to share.

In Rousseff’s opinion, the inclusion of Argentina in the NBD “is the fastest way” for Argentina to get financing, Télam reported. Rousseff also said that Argentina’s incorporation into the NDB will be expressly put forward and defended by Brazil.

The country’s inclusion will be discussed by the “governors” of the financial institution (ministers and central bankers) of all the members of the bloc. The vote will take place in the first week of August in South Africa.

In order to get into the club, Argentina would have to make a capital contribution of US$ 250 million in sovereign bonds held by the Treasury. Sources in the Economy Ministry told Télam that some of those funds will come from the Guarantee and Sustainability Fund, a sovereign investment fund that partly finances ANSES, the administrator of social benefits in Argentina, including retirement pensions.
Argentina’s contribution would be 25% of the total of US$1 billion that the NDB will receive over a period of two months, since the board will also hold a vote for the incorporation of three other countries: Saudi Arabia, Egypt, and Zimbabwe.

Yesterday,

Please, Log in or Register to view URLs content!

that it would be difficult for Brazil to secure financial support for Argentina via the BRICS bank because of regulations that limit the organization from supporting countries that are not member states.

Over the past few years, BRICS members have supported Argentina’s entry into the alliance,

Please, Log in or Register to view URLs content!

.

 

[Strangelove]

Please, Log in or Register to view URLs content!

 

[Philister]

I thought it was strange where I read an article where Mexico accused China of smuggling finished fentanyl, not the precursor chemicals, into Mexico to sell in the US. I wonder if that was another lie the West was trying to spin because of Mexico entertaining to join BRICS. I'm sure Mexico not being in the US camp is strategically undermining hence why you hear in the US about deploying troops to Mexico in the war on drugs. And why would Mexico accuse that of China?

Cuz they want a discount, taliban pretty much destroyed their poppy production,our Mexican friends are now having a supply chain issue.
As a socialist country once took an oath to bring benefits to all human kind, we are obligated to supply them with cheap chemicals&weapons and equipments, no addict shall be left behind, no street drug dealers shall run out of stash , no cartel managers shall be blamed for horrible financial statements.
If the light of beacon ever wavered, we shall be the flamethrower to light it up.

 

[Strangelove]

Please, Log in or Register to view URLs content!

Exclusive: Honduras, China to sign 19 cooperation documents including BRI memorandum on Monday: Honduran diplomat

By

Please, Log in or Register to view URLs content!

and Bai Yunyi Published: Jun 11, 2023 02:52 PM


In just 77 days after the establishment of Honduras-China diplomatic relations, bilateral ties have seen tremendous development, and have been growing like “a robust tree” benefiting the people of both sides. The two countries are expected to sign on Monday 19 memorandums and documents addressing cooperation including the Belt and Road memorandum, Honduran Foreign Minister Enrique Reina told the Global Times in an exclusive interview on Sunday.

“This is my second visit to China, and this time we were able to visit Shanghai. I believe what we are doing is very important,” Reina told the Global Times as Honduras officially inaugurated its embassy in Beijing on Sunday.

Photo: Chen Qingqing/GT

The inauguration of the Honduran Embassy in China holds great significance, and Honduras reiterates that it upholds the one-China principle and is looking forward to cooperating with China in trade and business, Belt and Road and Global Development Initiatives, the Honduran diplomat said during the embassy inauguration ceremony.

We will sign 19 memorandums and documents including one memorandum about the cooperation under the Belt and Road initiative, reflecting the positive progress of the bilateral relations. And significant results will be achieved during this visit, Reina told the Global Times.

The inauguration ceremony was held during a six-day state visit by Honduran President Xiomara Castro to China, which also marks the first visit to the country by a Honduran president.
 
Reina also attended the inauguration of the Chinese Embassy in Tegucigalpa, the capital of Honduras, on June 5 (local time), and he said he believes that with the presence of each embassy, there will be new opportunities and capabilities to enhance the cooperation between the two countries.

“I think we are working very fast and very strong in the strain of our relation with China. And it's very important for us to recognize the importance of principle of one-and-sole China. I think that is very important to deepen this relationship between the two countries,” he said.

From this visit, a lot of important decisions will be made by the top leaders of the two countries that will take the Honduras-China relations into a new era, and also the signing of several documents will improve the opportunity for cooperation between the two sides, Reina said.

The cooperation between the two sides will cover various areas including trade, cultural exchanges and education. China’s is learning more about Honduras, while Honduras is learning more about China, Reina noted.

Reina also revealed that in early July, a Chinese deputy minister of commerce is expected to visit Honduras to promote the signing of a free trade agreement.

President of Honduras Xiomara Castro formally requested

Please, Log in or Register to view URLs content!

after she visited the headquarters of the bank in Shanghai on Saturday. She also visited a Huawei research center on the same day, highlighting pragmatic cooperation during her trip to China.

Reina also noted that Honduras hopes to be part of the BRICS. “I think there's a new opportunity for financial issues that Honduras will be seen as a new opportunity for projects in development, in either in the social or economic way” that will improve the people’s livelihoods, Reina said.

When it comes to the influence of the US on Honduras and other Central American countries amid the tense US-China rivalry, the Honduran foreign minister said the decision of Honduras to recognize the one-China principle is a sovereign decision.

“We don't see that this is an issue that will come or have any problem that we maintain good relations with the US and we will strengthen and come together for our future relations with China,” he said.

 

[coolgod]

Looks like China is just trampling on America's backyard. We need just mexico to join BRICS to rub it in.