10 Jun BRICS and China
(GS PAPER-2, REGIONAL ORGANISATION
SOURCE- THE HINDU)
Recently the BRICS foreign minister meeting was held virtually.
The outcome of the meeting-
At the end of the meeting, two statements is released
- First is on the “Meeting of the BRICS Ministers of Foreign Affairs/International Relations”
- The second is on “BRICS Joint Statement on Strengthening and Reforming the Multilateral System”.
- BRICS countries should pursue openness, inclusiveness, and cooperation, and reject “bloc politics and ideological confrontation”.
- The BRICS countries are emerging markets and different from a few developed countries in their approach towards multilateralism and multilateral cooperation.
- The BRICS countries emphasized the need to observe the purposes and principles of the UN Charter and are opposing exceptionalism and double standard.
Impact on world order-
- These statements are revealing that China is totally in opposition to the formation of the QUAD grouping amongst the US, India, Australia, and Japan.
- China believes that this group is targeting or harming the interests of third parties.
- BRICS is an acronym for the group of the countries of the world’s leading emerging economies, namely Brazil, Russia, India, China, and South Africa.
- The British Economist Jim O’Neill coined the term BRIC to describe the four emerging economies of Brazil, Russia, India, and China in 2001 for the first time.
- The grouping came into effect during the first meeting of BRIC Foreign Ministers’ in 2006.
- South Africa joined BRIC in December 2010, after which the group adopted the acronym BRICS.
- The Chairmanship of this forum is rotated annually among its members, in accordance with the acronym B-R-I-C-S.
Cooperation among members is achieved through:
- Track I: Formal diplomatic engagement between the governments of states.
- Track II: Engagement through government- institutions, e.g. state-owned enterprises and business councils.
- Track III: Civil society and People-to-People interaction.
India and BRICS:
- BRICS has emerged as the voice of developing countries, or the global south, and India is one of its important members.
- With rising challenges on issues from WTO to climate change to terrorism, India believes BRICS has to protect the rights of the developing countries.
- BRICS has put counter-terrorism, one of its prime goals this has been a success for India.