INSUBCONTINENT EXCLUSIVE:
Xingke, secretary-general of the World Financial Forum and director of the Center for BRICS and Global Governance, has told the Global Times
that including Iran in BRICS will mean closer and more effective channels between resources and markets, which will benefit all
On a global level, this forum represents 40% of the world population and 26% of the world economy
According to IMF data, China has the largest economy in this grouping and accounts for more than 70% of the BRICS total worth of around
talks in Doha to resuscitate the Joint Comprehensive Plan of Action (JCPOA) deal between Iran and the United States which ended without any
Apparently losing hope of normalizing its ties with the Western bloc, Iran could be exploring alternate options to survive economically
BRICS and Global Governance, told the Global Times that including Iran in BRICS will mean closer and more effective channels between
foreign policy and believed that having normal relations with the West is the key to expanding relations with the East and vice versa
But since President Raisi took over last year, Iranian foreign policy has increasingly become anti-Western in the traditional sense of the
the 20th anniversary of BRICS last year, its achievements have remained debatable
In 2017, a BRICS plus concept was also introduced to link more emerging economies and build consensus on global development, but the group
Russia and South Africa have remained far behind
While the first decade was a roaring success for all four countries, with each surpassing all four scenarios that I originally outlined, the
divergent political interests
Russian diplomacy was behind creating this bloc at that time, but not precisely to make it an anti-American grouping
Russia wanted India in it to balance China, for India it was a platform to maintain a cooperative structure with China and Russia while
The relationship between China and Russia has become stronger while China and India's relationship has deteriorated considerably
establish an independent financial mechanism to neutralize Western attempts to impose their policies, in particular, to challenge the Swift
The potential of the Iranian economy is huge; its development requires Western technology, especially in the energy sector, something which
BRICS countries cannot fully provide
What Iran often boasts about, in terms of China and Russia continuing to work with Iran despite the United States sanctions, is first a
bilateral issue and second comes with a considerable cost such as the discount Iran provides for China for its oil trade
the West and its relations with China and Russia are more as a junior ally, not as a competitor
largest energy producers and consumers outside the United States
For a while, the forum has been working on a mutual payment system, credit rating agency, currency bank and reserve mechanism
