Shanghai Cooperation Organisation (SCO) and Global South strategic cooperation

taxiya

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Would Turkey get veto rights if they join?
So far there is no codified admission process, so nobody has official veto powers. But in practice, the very first expansion is based on concensus of the existing five, that is nobody objects anyone, so it is kind of veto power of the initial five members. But again, as the orgnization expand, there will be more members needed to reach concesus, some applying members are even more economically influensial than existing members. I don't think there will be real veto powers to anyone including some of the funding members, let alone others. It will be up to a majority to reach a concensus.

So in short, I don't think any possible new members including Turkey to have veto right. What would happen is for example, economy the size like China may have a de facto veto due to her size and friend circle in BRICS, while economy the size of Tureky is not able to gather enough support to veto anyone who has the endorsement of China. It is all based on hard power, the word of "consensus" is smart choice to balance the interests of both large and small members. Think of BRICS as a company, the big shareholders will naturally have a bigger say and they won't let others be equally deciding their investments.
 

tphuang

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If turkey join, there will be no next countries to join.
stop writing stuff like this.

Even the China has encouraged Turkey to apply and join.

Pretty much these days, new members won't have that much sway. As we saw in Johannesburg, China pretty much steamrolled everyone in almost getting everyone in there that it cared about. Question is who comes next.

Indonesia has to be high on that list and same with Algeria. Beyond that Turkey is fine and so is Venezuela, because they have oil

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Question is how can China tap and control more of that Venezuelan oil. It needs a whole lot of investment to resume pumping
 

luminary

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by the way, another evidence here that the much hyped India to Europe infrastructure project is actually good for China rather than a counter to BRI
As I also said on the Misc. thread, it's more likely to be an anti-infrastructure initiative to mess with the involved nations. Embezzling funds, creating delays, crowding out actual viable infrastructure projects, etc.



However, this and other recent actions does indicate a sharp change in US foreign policy, where the US is actually biting back its pride and making a concerted effort to reapproach with the Global South. From Indian Punchline:
Thus, in rapid succession, the manifestations of a pattern of “new thinking” are emerging:
  • the
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    for the purposes of peace, cooperation, and sustainable development”;
  • the new India-Middle East-Europe Economic Corridor (
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    and
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    );
  • the
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    (comprising the US, European Union, France, Germany, India, Italy, Japan, Mauritius, the United Arab Emirates, Saudi Arabia, and the World Bank);
  • the
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    ;
  • the new initiative with G20 partners to
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    to more effectively deliver poverty reduction and inclusive economic growth.”

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I'll add whitewashing Modi and feeding him with MSM praise on a "successful G20" to the list.

I'm guessing the recent setbacks the Western side has received in the Ukraine counteroffensive, the "tech war", BRICS expansion + G20 obsolescence, and Niger coup (a terrible omen for the future of European neocolonialism) have forced the US to do some introspection (outlandish, I know) and now resort to sneakier and more insidious "divide and conquer" tactics.

Or, I might be wrong, and this is just Biden's attempt to temporarily shore up foreign relations for his upcoming reelection. The US might be back to its usual methods by next year.

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Michaelsinodef

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Or, I might be wrong, and this is just Biden's attempt to temporarily shore up foreign relations for his upcoming reelection. The US might be back to its usual methods by next year.

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Nah.

Just a classic case of US doing both.

Like saying and praising what they are doing with their 'mouth' (media), but in reality, actually doing scummy stuff with their 'body' (what is actually happening).
 

tphuang

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they don't really need Venezuela, but maybe there are somethings they will do to secure Venezuelan oil supply. We will see
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It certainly would make a lot of sense

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China has also ramped up imports from Iran. No doubt getting a great price, probably better than what it pays for Russian oil.
 

Bellum_Romanum

Brigadier
Registered Member
I had posted in the other thread that Haifa port is no longer majority owned by China, the Indians took it over. Be on the lookout for the Americans to pressure the Greeks to kick China out of Piraeus too at some point.
When that Greek port was struggling financially not one American, Greek, or European companies were willing to invest in that money losing port. It was the Chinese ownership that turned that port around to profitability. Unless the American government can somehow circumvent the Greek laws and its financial economic interest to ruin they're more than welcome to try.
 

sunnymaxi

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Oil money flocking to China

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The Abu Dhabi Investment Authority and the Kuwait Investment Authority, which are the two sovereign funds with the most assets under management in the Middle East, rank among the 10 biggest stakeholders of 61 companies listed on the Chinese mainland, according to Yicai research.

The Abu Dhabi Investment Authority was among the top 10 shareholders of 26 companies listed on the mainland as of June 30, and the Kuwait Investment Authority was among the 10 biggest stakeholders in 36 such firms. Their portfolios are almost completely separate, and only hydraulic gear firm Hengli Hydraulic is jointly held by both of them as top 10 shareholders.

Both sovereign funds invested heavily in the second quarter and showed a particular preference for the consumer electronics, biomedicine and non-ferrous metal stocks. They snapped up shares in firms such as white goods giant Hisense Home Appliances, gold and copper producer Zijin Mining and electrical machinery manufacturer XJ Electric. Some of these stocks were bought as early as the first quarter.

They are less keen on stocks in fields such as alcohol, semiconductor chips, new energy and artificial intelligence, which Chinese public funds are eager to invest in.

The Abu Dhabi Investment Authority tends to plump for nonferrous metals and energy stocks. It holds more than 10 million shares each in Yunnan Aluminum, China Jushi and Tongling Nonferrous Metals Group. It also owns 149 million shares of Longyan, southeastern Fujian province-based Zijin Mining, with a market value of about CNY1.9 billion (USD261.3 million).

It also seems to believe that demand for consumer electronics will soon pick up, and was the tenth largest shareholder in electronic equipment manufacturer Lens Technology with 14.6 million shares, as of June 30.

The Kuwait Investment Authority prefers growth stocks of small and medium-sized companies in sectors such as cosmetics, manufacturing, games, solar and non-ferrous metals. The firms with the biggest capitalization in which it held equity as of the end of the second quarter, were car parts maker Sanhua Intelligent Controls, stationery firm M&G Stationery, cosmetics giant Botanee Group and non-ferrous metal miner Zhongjin Gold.
 
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