BRICS could expand to fight ‘Western dominance’ | DW News

The BRICS summit has kicked off in Johannesburg. The meeting of Brazil, Russia, India, China and South Africa will consider whether to allow new members to grow its economic and geopolitical influence.

Beyond the enlargement question, boosting the use of member states' local currencies is also on the summit agenda. South African organizers, however, say there will be no discussions of a BRICS currency, an idea floated by Brazil earlier this year as an alternative to dollar-dependence.

DW spoke to Jim O'Neill, who coined the acronym BRIC in 2001 while working as an economist at Goldman Sachs.

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[hersdera]

BRICS is considering the creation of a fresh currency. It's important to recognize that historically, gold has served as a store of value and a medium of exchange, with some nations maintaining substantial gold reserves. Nevertheless, the operational mechanics and potential global adoption of a currency backed by gold within the current financial system remain uncertain. Ultimately, any decision regarding the establishment of a new currency would involve a multitude of economic, political, and logistical factors to consider.

[coupe]

The relation of India and China, despite their differences still being in the same alliance which helps other nations too is slap to how US and Russian should have acted on the NATO problem, if they did then people in Ukraine today wouldn't be struggling for survival.

[puppetmaster]

It is fascinating that India and China are always described as "don't really agree on much together". Yet, a closer inspection of the reality how India and China vote at the UN, they find themselves on the same side at least 80% of the time without any coordination whatsoever. India's vote and China's vote are aligned much more often than either country do with the West. Nor is this surprising. They are both Global South countries with the same general worldview that is fiercely protective of their sovereignty, borne out of domination by Western imperial powers, and they both stand for global economic development, and are on the same side on every issue ranging from multipolarity, food security, climate change, intellectual property, etc. The West is hoping for a China-India split to BRICS/SCO that simply does not exist! Both China and India understand they have far more to gain by both countries belonging to the same multilateral forums where both countries will have voice, and thus the core interests of both countries will be protected. They are not seeking to increase confrontation (the Western mindset), but on how to reduce mutual tension through dialog and compromise (the mindset of the rest of the world).

[normantan]

Brics grouping wanted the West and US to stop bullying but since they didn't want to change, all the victims and friends need something to move away from this vicious bullying.

[chengavitch]

Upholding their countries' interests is being suspected as anti-West by DW.

[lawrencelim]

Lots of countries suffered under US sanctions or unfair trade treatments. They have no choice but to group together to protect themselves from being bullied.

[danielboey]

Just because he coined BRIC 20 years ago more as a sound bite - hardly makes him the expert of the group 20 years later

[χσχσ-νχ]

Western War criminals crying in comments 😂😂😂

[bbharatillusion]

The biggest mistake the west can make is assuming the rest of the world cannot think for themselves... there will be a rude awakening for the west😂

[JayToons]

Well, nobody can be against other countries joining BRICS. All nations are free to decide what they do, right?

[tuoms]

The trade between the BRICS countries is way too small for their potential currency to take over

[jjc]

Super proud of BRICS. The under dogs, the colonized, the enslaved, robbed and raped for centuries by the west, the majority of the world population is the BRICS!! We feel each other's pain and suffering cause we share the same history of being invaded. Together we will bring better lives to our people and together we will make our countries stronger.

I am Chinese and i am proud and proud of every country in the BRICS.

[Shining]

Best Wishes to BRICS for Peace 🕊️ and Economic Prosperity 👍💞

[testing-rdyc]

I am yet to understand why any significant grouping or initiative which is not sponsored directly by the west is eventually spinned or viewed as a potential anti-west initiative. Can't other "lesser" countries aspire to better? Should having interests and aspirations be the exclusive reserve of a particularly set of people? The west already has many initiatives and grouping that serves its interest, what is the fuss about developing countries trying to create something that caters to their aspirations?

We as Afrikans are very proud and inspired by the BRICS Idea.

[Sohanjs]

I think people people don't realize this but, he is the person who first coined BRIC in 2001. That's Jim O'Neill

[Sweet-Rat-Milk]

You know BRICS are doing something right when the organization lives in the minds of Westerners, rent free 😂

[ghtwghtw]

Fighting for our own rights to trade our own way. Nothing wrong or threatening.

[lifes_magic_moments]

South africa needs to get rid of the trade agreement with the US. redirect that trade to one of the BRICS countries

[datianlongan]

In the West we need to drop this "you are either with us or against us" mentality and to work together with everybody to solve global issues.