44 mins ago
China Takes BRICS Chair Amid Wars and Trade Disruptions
China is preparing to lead BRICS and host its next summit in 2027.
BRICS is a group of countries that discuss economic and global problems.
Narendra Modi said the group should produce real results, not just make promises.
Leaders are worried that wars could interrupt shipping, energy supplies and trade.
They especially mentioned the importance of safe routes such as the Strait of Hormuz.
BRICS countries also want to make it easier to trade using their own national currencies.
They supported connecting payment systems but did not agree to create one shared currency.
China will have to help countries with different views work together.
China will assume the BRICS chairship and host the group’s next summit in 2027.
Narendra Modi urged BRICS to deliver concrete results rather than only ideas and commitments.
Leaders highlighted risks to supply chains, maritime security and energy flows, including through the Strait of Hormuz.
The New Delhi Declaration supported greater use of national currencies and interoperable cross-border payment systems, but not a common BRICS currency.
China will need to balance differing member positions on the Russia-Ukraine war, the West Asia conflict and other global issues.
- Who
- China will lead the expanded BRICS grouping, while Prime Minister Narendra Modi set expectations for its work.
- What
- China is preparing to assume the BRICS chairship and host the next summit, with wars, trade disruptions, maritime security and local-currency payments on the agenda.
- Where
- The transition was discussed at the BRICS Summit in New Delhi; concerns include global supply chains and strategic waterways such as the Strait of Hormuz.
- When
- China is expected to chair BRICS and host its next summit in 2027.
- Why
- The chairship comes as conflicts are affecting trade, energy flows and maritime security, while members seek more practical economic cooperation.
Key facts
- Next BRICS host
- China
- Next summit
- 2027
- Current summit location
- New Delhi
- Economic focus
- Greater use of national currencies and interoperable payment systems
- Common currency
- Not endorsed in the New Delhi Declaration
- Security concerns
- Supply-chain resilience, maritime security and uninterrupted energy flows
- Key waterway
- Strait of Hormuz
Quotes
Narendra Modi
Prime Minister of India, speaking at the BRICS Summit in New Delhi
“BRICS is poised to enter its third decade. The world now expects concrete results from us, not just ideas and commitments. I am confident that through our collective efforts, we will certainly live up to these expectations.”
wionews.com
Sources
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