China/Russia-led bloc takes on dollar, Western influence as Putin dodges summit over arrest fears

[Social Media]

Members of the China- and Russia-led BRICS economic bloc remain at odds about how to proceed with aggressive expansion and the establishment of a new currency as they meet for a summit in South Africa.

"While at this point, the effort is largely aspirational, Washington cannot ignore this movement because it is increasingly gaining traction," Rebekah Koffler, president of Doctrine & Strategy Consulting and a former Defense Intelligence Agency officer, told Fox News Digital.

"It’s not going to happen this year or next, but unless Washington takes it seriously and restores global confidence in the U.S. dollar, stops using it as a weapon of economic warfare rather than as intended for economic, not political purposes, it will happen gradually," she added.

Russian President Vladimir Putin has abstained from attending the summit due to concerns that he would face arrest by the International Criminal Court over alleged child abduction crimes related to the invasion of Ukraine, but the meeting has plenty of drama to occupy itself otherwise.

The BRICS bloc, which is named for its members, Brazil, Russia, India, China and South Africa, started out with all but South Africa in 2001, adding its fifth member in 2010. The group made headlines before its summit in Johannesburg when it announced that the members had considered another, wider membership expansion.

 

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[2baht]

Just now, Social Media said:

China- and Russia

 

2 minutes ago, Social Media said:

Russian President Vladimir Putin has abstained from attending the summit due to concerns that he would face arrest by the International Criminal Court over alleged child abduction crimes  related to the invasion of Ukraine

Emperor Xi and Czar Putin! ???? Both are dictators and one is a horrific war criminal!

[Gweiloman]

4 minutes ago, 2baht said:

 

Emperor Xi and Czar Putin! ???? Both are dictators and one is a horrific war criminal!

Nothing wrong with being a dictator if you are concerned for the people and country and doing a fantastic job. Look at what LKY achieved for Singapore 

 

China would not be the world’s 2nd largest economy if it were a western style democracy and the majority of Chinese people are very happy with their style of governance.

[2baht]

3 minutes ago, Gweiloman said:

the majority of Chinese people are very happy with their style of governance.

The majority of Chinese know no different!

[ExpatOilWorker]

BRICS economic corporation has very little to do with replacing the dollar as an international currency. It is an attempt by China ???????? to make the Yuan less woundable to sanctions, just in case the baloon goes up in Taiwan ????????. 

[placeholder]

27 minutes ago, Gweiloman said:

Nothing wrong with being a dictator if you are concerned for the people and country and doing a fantastic job. Look at what LKY achieved for Singapore 

 

China would not be the world’s 2nd largest economy if it were a western style democracy and the majority of Chinese people are very happy with their style of governance.

Really? I think that Taiwan shows that an ethnic Chinese country can succeed very well with a democracy. And while after Deng there was a letup in suppression of the free market. under Xi that has been reimposed. And the Chinese economy faces many threats and seems to be doing it's best to ignore them. Its days of rapid growth are clearly over as long as Xi remains in charge.

[Tug]

Let’s see I’m just a simple guy but even I can see it would be foolish to believe in and trust a Russian KGB mafia war criminal the author of untold horror misery and grief and a Chinese despotic dictator to control the world’s trading currency 

[scottiejohn]

46 minutes ago, 2baht said:

The majority of Chinese know no different!

The majority of Chinese are not allowed to know no different!

[placeholder]

It's dubious that as long as the present form of Chinese governance continues, that an alternative currency backed by the Chinese govt has anything except the remotest of chances of succeeding. Not only do the Chinese not allow their currency to float freely, but would anyone trust the Chinese not to restrict capital outflows were some sort of economic crisis to occur?

[zhounan]

Let's call it China-led bloc.

[Srikcir]

9 hours ago, Social Media said:

using it as a weapon of economic warfare rather than as intended for economic, not political purposes,

Something China attempted to do in Australia and elsewhere: "...China is assertively trying to meddle in the internal politics and societies of countries on nearly every continent" - Home Affairs Minister Clare O'Neil,  2023. ref.  https://www.lowyinstitute.org

Russia just bypasses the whole trade game and just forcefully "annexes" neighboring countries through economic blackmail, war and special operations that can add to its wealth at minimal cost and administration. 

 

[placeholder]

10 hours ago, zhounan said:

Let's call it China-led bloc.

And its efforts at creating a new currency base will sink like a lead block.

[Marsupienemi]

On 8/23/2023 at 8:34 AM, ExpatOilWorker said:

BRICS economic corporation has very little to do with replacing the dollar as an international currency. It is an attempt by China ???????? to make the Yuan less woundable to sanctions, just in case the baloon goes up in Taiwan ????????. 

It's going to be a rude awakening for some...

[Gweiloman]

On 8/23/2023 at 8:28 AM, 2baht said:

The majority of Chinese know no different!

The majority of Americans know no other form of governance other than US styled democracy. Some end up sleeping on the streets. Are you seriously saying that that’s a better form of governance? 

[Gweiloman]

On 8/23/2023 at 8:43 PM, placeholder said:

And its efforts at creating a new currency base will sink like a lead block.

Argentina, Egypt, Ethiopia. Iran, Saudi Arabia and UAE has been formally invited to join BRICS. Goodbye petrodollar. Lead block? You mean the USD I guess. 
 

Do yourself a favour. If you really want to know what’s happening in the world, don’t just read western MSM propaganda 

[Gweiloman]

On 8/23/2023 at 5:51 PM, Srikcir said:

Something China attempted to do in Australia and elsewhere: "...China is assertively trying to meddle in the internal politics and societies of countries on nearly every continent" - Home Affairs Minister Clare O'Neil,  2023. ref.  https://www.lowyinstitute.org

Russia just bypasses the whole trade game and just forcefully "annexes" neighboring countries through economic blackmail, war and special operations that can add to its wealth at minimal cost and administration. 

 

China meddling in the affairs of of other countries lol.

 

Some people are so naive.. or just plain ignorant/biased. 

[candide]

On 8/23/2023 at 3:22 AM, Gweiloman said:

Nothing wrong with being a dictator if you are concerned for the people and country and doing a fantastic job. Look at what LKY achieved for Singapore 

 

China would not be the world’s 2nd largest economy if it were a western style democracy and the majority of Chinese people are very happy with their style of governance.

It's B.S. Of course!

China, and also Singapore, have developed themselves by mimicking and even spying the knowledge base from democratic Western countries.

The main reason why Singapore and HK (both mainly Chinese)are more developed than mainland China is because they inherited behaviour patterns and knowledge from the British (I'm not British).

[heybruce]

1 hour ago, Gweiloman said:

The majority of Americans know no other form of governance other than US styled democracy. Some end up sleeping on the streets. Are you seriously saying that that’s a better form of governance? 

Right.  In China you can sleep in an interment camp instead of on the street.  https://www.cnn.com/2022/09/01/china/un-report-china-xinjiang-uyghurs-key-takeaways-intl-hnk/index.html

[2baht]

4 hours ago, Gweiloman said:

The majority of Americans know no other form of governance other than US styled democracy. Some end up sleeping on the streets. Are you seriously saying that that’s a better form of governance? 

The story is about the BRICS bloc, nothing to do with America, that's another story, stay on topic! 

[placeholder]

6 hours ago, Gweiloman said:

Argentina, Egypt, Ethiopia. Iran, Saudi Arabia and UAE has been formally invited to join BRICS. Goodbye petrodollar. Lead block? You mean the USD I guess. 
 

Do yourself a favour. If you really want to know what’s happening in the world, don’t just read western MSM propaganda 

And what currency are they going to use then?

[heybruce]

6 hours ago, Gweiloman said:

Argentina, Egypt, Ethiopia. Iran, Saudi Arabia and UAE has been formally invited to join BRICS. Goodbye petrodollar. Lead block? You mean the USD I guess. 
 

Do yourself a favour. If you really want to know what’s happening in the world, don’t just read western MSM propaganda 

I assume you are going to convert all of your savings into one or more of the BRICS currencies.  I understand the ruble is cheap now. 

 

I know this will go unanswered, but what news sources do you recommend?