The ninth annual BRICS summit, a conference attended by five major emerging national economies, Brazil, Russia, India, China and South Africa, will begin today in Xiamen, China. BRICS countries represent about 40% of the world’s population and constitute 22% of the gross world product.
The convention will address issues of cooperation, credit scoring and climate change. The bloc’s expansion could also be considered, as Egypt, Guinea, Mexico, Tajikistan and Thailand were invited as observer states.
While talk has been amicable this past week, tensions between China and India will underscore the weekend. Disputes over possession of the Doklam Plateau, China’s incursions into the Indian Ocean and its staunch alliance with Pakistan—India’s top adversary—have all contributed to animosity between the world’s two most populous countries. For India’s part, its support for Tibet by providing sanctuary to the Dalai Lama has angered Beijing.
While mutual concerns, like climate change and renewable energy, will prompt some cooperation this weekend, do not expect resolutions to any of the substantive issues that divide BRICS’ two biggest players.
Max is Foreign Brief's Chief Executive Officer. A Latin America specialist, Max is an expert in regional political and economic trends, focusing particularly on the Southern Cone.