BRICS Summit: Afghanistan likely to dominate discussions | Business and Economy News

BRICS Summit: Afghanistan likely to dominate discussions | Business and Economy News

While the alliterative theme of this yr’s BRICS Summit is “cooperation for continuity, consolidation and consensus”, conversations are likely to be dominated by the COVID-19 pandemic, safety and Afghanistan.

For the second yr operating, Thursday’s annual gathering of the world’s main rising economies – together with Brazil, Russia, India, China, and South Africa (comprising the acronym BRICS) – will probably be held nearly due to the pandemic.

The summit will probably be chaired by India’s Prime Minister Narendra Modi. Brazil’s President Jair Bolsonaro is slated to attend, together with President Xi Jinping of China, Russian President Vladimir Putin, and South Africa’s President Cyril Ramaphosa.

The attendance of Xi, who’s selective about his appearances, is particularly vital.

“China is sending a signal that it is still pursuing a multi-polar world,” Ian Johnson, senior fellow for China research on the Council on Foreign Relations, advised Al Jazeera. “It’s also part of China’s continuing foreign policy to water down US influence in the world by pursuing other groupings of countries, such as BRICS.”

Crises previous and new

The first BRIC summit was held in Russia in 2009. Born within the shadow of the worldwide monetary disaster, the gathering – which added South Africa a yr later, together with an “S” in its acronym – aimed to pool the burgeoning energy of the world’s main rising economies to the good thing about every member and to spur world monetary reform.

Today, the BRICS nations account for roughly 1 / 4 of world gross home product (GDP).

Like their developed-economy counterparts, BRICS members are nonetheless grappling with the financial fallout of the COVID-19 pandemic. But the restoration amongst them is way from equal, and all face headwinds from virus-related disruptions.

China – the world’s second-largest economic system – has been bouncing again strongly from final yr’s COVID-19 blow. The most up-to-date bit of fine information arrived on Tuesday when authorities knowledge confirmed that exports grew at a faster-than-expected tempo final month.

India, which suffered a devastating second wave of COVID-19 earlier this yr, is on observe to mount the world’s quickest progress by yr’s finish, whereas Russia’s economic system has recovered to pre-pandemic energy.

Brazil and South Africa are the group’s laggards. Brazil’s economic system shrank unexpectedly within the three months ending in June, and political unrest is additional muddying the outlook. South Africa’s economic system grew 1.2 % within the second quarter, however a contraction is predicted within the third quarter after lethal riots swept the nation.

“In some ways, the BRICS group has been receiving a declining amount of attention over time since its formation,” Miles Kahler, senior fellow for world governance on the Council on Foreign Relations, advised Al Jazeera. “Since well before the COVID pandemic, quite a number of economies have had serious problems.”

Afghanistan

While there may be a lot to be gained from mutual cooperation, the relationships between the 5 BRICS nations are marked by shifting alliances and diverging strategic pursuits – particularly the place Afghanistan is worried.

“Clearly the big regional issue is Afghanistan,” stated Kahler. “It will be very interesting to see if the meeting has any positive value in coordinating their policies with Afghanistan now dominated by the Taliban.”

But cooperation might show troublesome.

“It’s hard to come to an agreement on something like Afghanistan,” stated Johnson. “They [BRICS nations] share an interest in not having extremism take root in Afghanistan as it did prior to 9/11. That would unify them, but beyond that, they have different interests.”

China’s greatest fear in Afghanistan, say analysts, is the potential for a safety vacuum to trigger hassle inside its personal borders.

“China has a border with Afghanistan and is probably most concerned and has the most at stake,” stated Johnson.

Beijing additionally has probably useful financial ties it might deepen and develop with the brand new Taliban authorities, such because the mining and extraction of Afghanistan’s mineral deposits, together with uncommon earth minerals which can be important to high-tech manufacturing.

Though India’s international ministry didn’t specify what regional points will probably be addressed on the summit, with India’s National Security Adviser Ajit Doval in attendance, it’s anticipated that Afghanistan will high its agenda.

India supported the previous United States-backed Afghan authorities, whereas its rival and neighbour Pakistan has extra of a relationship with the Taliban, making the stakes greater for New Delhi.

On Wednesday, simply hours after the Taliban introduced its new caretaker authorities, Doval met together with his Russian counterpart General Nikolai Patrushev to focus on the scenario in Afghanistan, in accordance to Indian media stories.

India is warning that Afghanistan might develop into a haven for armed fighter teams. It is particularly anxious in regards to the scenario in Kashmir, a majority-Muslim area it administers solely a part of, the place a insurrection has been brewing for years.

India can also be a member of the Quadrilateral Security Dialogue, or “quad”, together with Australia, Japan and the US – which is more and more involved about China’s behaviour.

“That doesn’t make it easy or as easy for them to cooperate in the BRICS framework or any other framework,” stated Kahler.

Tensions are additionally nonetheless simmering between China and India over border clashes this previous winter. The violence might have ceased for now, but it surely nonetheless appears to be like like extra of an unsteady détente than a tough dedication to peaceable non-combative resolutions, say analysts.

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