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BRICS
US sanctions will help create BRICS currency
Goldman Sachs chief economist Jim O’Neill coined the acronym BRIC in 2001—for Brazil, Russia, India, and China—to highlight these countries’ rapid economic expansion. Eight years later, the four countries established BRIC as a formal organization. The bloc became BRICS in 2010 when South Africa was admitted.
Philippines should join BRICS
Western countries continue to try to isolate Russia completely, through numerous economic sanctions, bans on sports and culture, and refusal to engage in dialogue on various issues. Does this benefit people and will it lead to progress or resolution of the conflict in Ukraine?
To BRICS or not to BRICS
With President Duterte’s pivot to China, a whole new avenue for Philippine trade agreements has been opened. Furthermore, with the apparent aversion to international trade of President-elect Donald J. Trump of the United States, our previous trade partnerships with the US, as well as other Western countries, can now only promise limited gains. Given the new international environment and sentiments of global leaders, should the Philippines now explore other trade coalitions? This question is even more important, as Chinese President Xi Jinping has invited Duterte in the next BRICS (Brazil, Russia, India, China and South Africa) Summit in September next year.
Is Duterte learning ‘BRICS’-manship on a tightrope?
Being naturally mischievous, President Duterte has not only flirted with China and Russia, but has declared an engagement with China, while announcing a “separation” from our geo-political marriage with Uncle Sam.