BRICS

South Africa's role as host of the BRICS summit is fraught with dangers. A guide to who is in the group, and why it exists

Retrieved on: 
Friday, June 2, 2023

South Africa will host the BRICS summit in August 2023.

Key Points: 
  • South Africa will host the BRICS summit in August 2023.
  • South Africa could face the wrath of its BRICS partners if it fulfils its international obligation and arrests him.
  • Hosting the 2023 BRICS summit is therefore fraught with dangers.

Who are the BRICS?

    • These countries decided that Goldman Sachs had a point and that they could enhance their global influence if they cooperated.
    • They first met at a ministerial level in 2006 and at a leaders’ summit in 2009.
    • The group has also sought, through groups like its business forum, to promote greater economic cooperation between the participating countries.

What has the BRICS grouping achieved?

    • They contend that it is a “new” multilateral development bank which offers its members an alternative to institutions like the World Bank.
    • It claims that its governance is fairer than the World Bank because its five original members all have equal votes.
    • It has provided US$32.8 billion to 96 projects in the 5 BRICS countries and it has begun looking to expand the scope of its operations.
    • But another important reason is that the BRICS are not unified in their demands for reform.
    • Similarly, not all the other BRICS have supported South Africa’s call for a third African seat on the IMF’s board of directors.

Are there any downsides to BRICS membership?

    • These changes have created both opportunities and challenges for the BRICS.
    • One opportunity arises from the fact that approximately 19 countries in the Global South, including Argentina, Cuba, Iran and Saudi Arabia, have expressed an interest in joining the BRICS.
    • It is expected that the BRICS will consider the issue of membership at their upcoming August 2023 summit.
    • However, given the complex economic and political relations between the BRICS member states, there is considerable scepticism about the feasibility of the BRICS developing a new global currency in the near term.

What hangs on the summit?

    • The G20, which brings together the 20 leading economic powers in the world, has called itself the “premier forum” for global economic governance.
    • Planning for this G20 event must begin soon because in 2024 South Africa will join India, the current G20 host, and Brazil, the 2024 G20 host in the troika that manages the G20 process.

Did South Africa sell arms to Russia? Only a series of unlikely scenarios could have made it possible

Retrieved on: 
Tuesday, May 16, 2023

On 11 May 2023 the US ambassador to South Africa, Reuben Brigety, claimed that South Africa had secretly exported arms to Russia in December 2022.

Key Points: 
  • On 11 May 2023 the US ambassador to South Africa, Reuben Brigety, claimed that South Africa had secretly exported arms to Russia in December 2022.
  • The announcement rapidly fed into a popular narrative that South Africa was increasingly siding with Russia in relation to Moscow’s aggressive war in Ukraine.
  • Brigety’s statements made both South African and international news headlines, including the Wall Street Journal, CNN and the Financial Times.
  • Furthermore, as demonstrated in the UN Register of Conventional Arms database, Russia has rarely imported South African arms.

Imports and exports

    • Indeed the Arms Control Committee’s 2019 arms import report lists the permit approval for the import of five million rounds of Russian ammunition to South Africa.
    • Over the years, even the US and the UK have imported arms from Russia according to the UN Register of Conventional Arms.
    • Reports at the time indicate that containers were offloaded in the harbour and then transported to secure locations under tight security.

US accusations of South African arms to Russia

    • Brigety claimed that the US government had intelligence reports indicating that prior to the Lady R departing from Simon’s Town, South African ammunition and possibly arms were loaded onto the vessel and then transported to Russia.
    • South Africa has one of the most comprehensive arms export laws in Africa, the cornerstones of which are transparency and human rights considerations.
    • Traditionally Russia could be considered a South African ally due to the BRICS arrangement.
    • However, reports of Russian perpetrated human rights abuses in Ukraine would most likely override other considerations in terms of South Africa’s arms export considerations.
    • All arms export applications by arms exporters are carefully considered by a scrutiny committee and, thereafter, by the National Conventional Arms Control Committee.
    • The annual arms export reports show that South Africa generally adheres to the Section 15 criteria.
    • If the Arms Control Committee had considered an application to export arms and or ammunition to Russia, then consensus among cabinet ministers would have been necessary.

The devil is in the intelligence reports

    • But such an endeavour would have required the payment of considerable bribes to officials on the docks and the manufacture of fraudulent export documentation.
    • The crux of the arms-to-Russia allegations relates to the content of the US intelligence reports.

Malaysian Genomics Inks Agreement in Expansion to Bangladesh

Retrieved on: 
Monday, May 15, 2023

PETALING JAYA, Malaysia, May 15, 2023 - (ACN Newswire) - Malaysian Genomics Resource Centre Berhad (Bursa: MGRC, 0155), a leading genomics and biopharmaceutical specialist, today announced a strategic cooperation agreement (SCA) with Toticell Limited for the distribution of the Group's products in Bangladesh.

Key Points: 
  • PETALING JAYA, Malaysia, May 15, 2023 - (ACN Newswire) - Malaysian Genomics Resource Centre Berhad (Bursa: MGRC, 0155), a leading genomics and biopharmaceutical specialist, today announced a strategic cooperation agreement (SCA) with Toticell Limited for the distribution of the Group's products in Bangladesh.
  • Mr. Sasha Nordin, CEO of Malaysian Genomics said, "Bangladesh represents a market with vast opportunities given its population of approximately 165 million people.
  • Malaysian Genomics is delighted to cooperate with Toticell to bring our products and services to Bangladesh."
  • Mr. Azri Azerai, Executive Director of Malaysian Genomics, said, "This collaboration with Toticell falls in line with Malaysian Genomics' strategic expansion plan which includes diversifying geographically and globally."

South Africa walks a tightrope of international alliances - it needs Russia, China and the west

Retrieved on: 
Thursday, May 11, 2023

For China, the US is the source of global insecurity.

Key Points: 
  • For China, the US is the source of global insecurity.
  • The growing tensions pose a political and economic challenge for South Africa.
  • I argue that South Africa should not choose between its BRICS or EU and US partnerships.
  • The west remains economically significant for South Africa, but the BRICS bloc is important for South Africa’s economic adaptability.

The BRICS bloc

    • At its 2011 summit, the bloc called for an end to the long reign of the US dollar as the world’s reserve currency (de-dollarisation).
    • The emergence of BRICS not only strengthens south-south relations, it weakens the inequality that characterises north-south relations.
    • Read more:
      South Africa and Russia: President Cyril Ramaphosa's foreign policy explained

      The BRICS bloc serves as a counterweight to some of the excesses of US unilateralism that’s been a feature of global governance since the end of the Soviet Union in 1989.

    • The emergence of the BRICS bloc has overshadowed the G7+ meetings while centralising the G20 as an international platform for political and economic coordination.

South Africa and the west

    • South Africa is the largest US and EU trading partner in Africa, with the US totalling R289 billion (about US$16 billion in 2021) and the EU totalling a trade of R699 billion (about US$ 38 billion in 2021.
    • South Africa also benefits from the preferential access to US markets for some of its exports in terms of the African Growth and Opportunity Act (AGOA.

BRICS’ growing economic importance

    • Trade and investment links between South Africa and China have improved too.
    • Investments from South Africa into BRICS countries have surged since it became a bloc member.
    • And China is an important trading partner for South Africa standing at R479 billion (about US$26 billion), above the US.

Navitaging anxieties

    • Of course, the problem of South Africa’s strained relations with the west is not South Africa’s.
    • Read more:
      How values, interests and power must shape South Africa's foreign policy

      For its own interests, South Africa must carefully navigate western anxieties about BRICS, and demonstrate that there is a common future for both the west and others in a multipolar world.

CCTV+: Video Series on Classics Quoted by Xi to Be Aired on Russian Media

Retrieved on: 
Tuesday, March 21, 2023

BEIJING, March 21, 2023 /PRNewswire/ -- The Russian-language edition of the second season of China Media Group's video series "Classics Quoted by Xi Jinping" will be broadcast by mainstream TV stations in Russia on the occasion of the Chinese president's three-day state visit, which started on Monday.

Key Points: 
  • BEIJING, March 21, 2023 /PRNewswire/ -- The Russian-language edition of the second season of China Media Group's video series "Classics Quoted by Xi Jinping" will be broadcast by mainstream TV stations in Russia on the occasion of the Chinese president's three-day state visit, which started on Monday.
  • The series, which features Xi's quotes from ancient Chinese stories and classics in his speeches and articles, will be broadcast on Russia-24, a news channel owned by the All-Russia State Television and Radio Broadcasting Company, and aired simultaneously on its new media platform.
  • Russia's Big Asia TV channel, TV BRICS and other channels will also broadcast the video series.
  • It also extracts and interprets the broad and profound traditional Chinese culture that contains the connotation of the new era and the values of globalization.

CCTV+: Video Series on Classics Quoted by Xi to Be Aired on Russian Media

Retrieved on: 
Tuesday, March 21, 2023

BEIJING, March 21, 2023 /PRNewswire/ -- The Russian-language edition of the second season of China Media Group's video series "Classics Quoted by Xi Jinping" will be broadcast by mainstream TV stations in Russia on the occasion of the Chinese president's three-day state visit, which started on Monday.

Key Points: 
  • BEIJING, March 21, 2023 /PRNewswire/ -- The Russian-language edition of the second season of China Media Group's video series "Classics Quoted by Xi Jinping" will be broadcast by mainstream TV stations in Russia on the occasion of the Chinese president's three-day state visit, which started on Monday.
  • The series, which features Xi's quotes from ancient Chinese stories and classics in his speeches and articles, will be broadcast on Russia-24, a news channel owned by the All-Russia State Television and Radio Broadcasting Company, and aired simultaneously on its new media platform.
  • Russia's Big Asia TV channel, TV BRICS and other channels will also broadcast the video series.
  • It also extracts and interprets the broad and profound traditional Chinese culture that contains the connotation of the new era and the values of globalization.

Global Bio-Based Paraxylene Market Size Set to Skyrocket with Projected CAGR of 7.5% from 2023 to 2030, Reaching USD 22.0 Billion by 2030 Report By Zion Market Research

Retrieved on: 
Thursday, March 16, 2023

Bioplastic packaging uses less energy, is lighter in weight, and emits less CO2 than traditional plastic packaging.

Key Points: 
  • Bioplastic packaging uses less energy, is lighter in weight, and emits less CO2 than traditional plastic packaging.
  • Thus, the growing use of bio-based PET products drives the growth of the bio based paraxylene industry.
  • Based on the end user, the global bio based paraxylene market is segmented into food & beverages, packaging, and others.
  • The bio paraxylene market is expected to expand during the forecast period due to expansion in the packaging sector.

Global Bio-Based Paraxylene Market Size Set to Skyrocket with Projected CAGR of 7.5% from 2023 to 2030, Reaching USD 22.0 Billion by 2030 Report By Zion Market Research

Retrieved on: 
Thursday, March 16, 2023

Bioplastic packaging uses less energy, is lighter in weight, and emits less CO2 than traditional plastic packaging.

Key Points: 
  • Bioplastic packaging uses less energy, is lighter in weight, and emits less CO2 than traditional plastic packaging.
  • Thus, the growing use of bio-based PET products drives the growth of the bio based paraxylene industry.
  • Based on the end user, the global bio based paraxylene market is segmented into food & beverages, packaging, and others.
  • The bio paraxylene market is expected to expand during the forecast period due to expansion in the packaging sector.

Why Global Insiders See 2023 As Breakout Year for Uranium

Retrieved on: 
Wednesday, February 15, 2023

PALM BEACH, Fla., Feb. 15, 2023 /PRNewswire/ -- FinancialNewsMedia.com News Commentary - After years of price stagnation, uranium has become a breakout performer, climbing significantly… on the back of the green transition and concerns about energy security.

Key Points: 
  • PALM BEACH, Fla., Feb. 15, 2023 /PRNewswire/ -- FinancialNewsMedia.com News Commentary - After years of price stagnation, uranium has become a breakout performer, climbing significantly… on the back of the green transition and concerns about energy security.
  • As the energy crisis in Europe intensifies, market participants are honing in on uranium's role in energy security.
  • Insiders and experts think rising prices are coming for the market in 2023.
  • Receipt of the drill permits from the Saskatchewan Ministry of Environment brings us one step closer to being fully permitted for our 2023 winter drill program at the KLS Property."

Why Global Insiders See 2023 As Breakout Year for Uranium

Retrieved on: 
Wednesday, February 15, 2023

PALM BEACH, Fla., Feb. 15, 2023 /PRNewswire/ -- FinancialNewsMedia.com News Commentary - After years of price stagnation, uranium has become a breakout performer, climbing significantly… on the back of the green transition and concerns about energy security.

Key Points: 
  • PALM BEACH, Fla., Feb. 15, 2023 /PRNewswire/ -- FinancialNewsMedia.com News Commentary - After years of price stagnation, uranium has become a breakout performer, climbing significantly… on the back of the green transition and concerns about energy security.
  • As the energy crisis in Europe intensifies, market participants are honing in on uranium's role in energy security.
  • Insiders and experts think rising prices are coming for the market in 2023.
  • Receipt of the drill permits from the Saskatchewan Ministry of Environment brings us one step closer to being fully permitted for our 2023 winter drill program at the KLS Property."