China trying to increase dominance with the help of BRICS: India opposes, recommends to include other countries in the organization to counter America
Through the BRICS organization, China wants to increase its dominance in the world. For this, China is rapidly thinking of expanding the BRICS organization. At the same time, other members of this organization, India and Brazil are opposing it. The summit of BRICS countries is going to be held in South Africa next month. According to Bloomberg’s report, in the discussion regarding its preparations, China has made recommendations to include other countries in the organization.
According to officials, China wants to increase its influence there by including other emerging economies in BRICS. At the same time, China is expanding its reach to other countries through BRICS to counter America, while India and Brazil want to take this process forward thoughtfully.
Western countries are afraid of BRICS
Dozens of countries including Saudi, UAE, Egypt and Iran have expressed their desire to become members of the BRICS organization and have also applied for its membership. At the same time, America and other western countries fear that if the BRICS organization becomes stronger, then their challenge will increase on different platforms.
Brazil does not want Western countries to worry about the growing influence of BRICS, while India wants to keep other countries in the BRICS organization only as observers. Consent among all countries is necessary to make any country a member of the organization. At present, Brazil, Russia, India, China and South Africa are members of this organization.
Draft made after India‘s protest According to two Indian officials, a draft has been made after expressing India’s protest on the expansion of the organization. In this, rules related to adding new members to the organization have been made. These rules will be sealed after discussion during the BRICS summit next month.
India has said that if new members are to be added to BRICS, then it should be those countries which are emerging economies or democracies. such as Argentina and Nigeria. According to an official, India is against the inclusion of countries in the organization which are dictatorial or ruled by a single family, such as Saudi Arabia.
PM Modi had talked to Saudi Arabia’s Crown Prince Mohammed bin Salman about this issue last month and expressed his concern about this issue.
Troubled Pakistan, which is experiencing an economic crisis, has also stated that it would like to join the BRICS countries’ association. The government of Pakistan is engaged in efforts to get the country out of its plight. Meanwhile, reports claimed that Pakistan may put forward the demand to join the organization at the BRICS summit to be held in South Africa in August. However, Pakistan will have a very difficult time fitting in.
In the event that Pakistan is admitted, will India resign? BRICS was created on 16 June 2009 against the dominance of America and Western countries on the world’s big institutions. During that time it included Brazil, Russia, India and China. In the event that Pakistan is admitted, will India resign?
Most of the fast developing countries are in this group. In such a situation, the credibility of the organization will decrease if Pakistan joins it. First Post, a news source, reports that India will quit participating actively in the organization since it does not favor Pakistan’s admission.
India has consistently charged Pakistan with supporting terrorism. Even more so, PM Modi referred to Pakistan as the “mother of terror” during the 2016 BRICS summit. On the other hand, if India leaves BRICS, the group will become weaker.
3 reasons why Pakistan could not join BRICS.
- Finance is the biggest reason. BRICS directly competes with G7, the world’s most prosperous economic organization. China is the largest economy in terms of purchasing power parity per GDP, with India third, Russia sixth and Brazil eighth. All BRICS countries have a share of 31.5% in the world’s GDP. In such a situation, the organization will be financially weak by including Pakistan in it.
- Due to Pakistan joining BRICS, the condition of the organization should not become like SAARC. Actually, the SAARC organization was created to coordinate the South Asian countries. India, Pakistan, Afghanistan, Bhutan, Maldives, Nepal and Sri Lanka are its member countries. However, the organization is unable to function properly due to strong differences between India and Pakistan. Due to which questions arise on its importance.
- The third and last reason is Pakistan’s foreign policy, which is not concrete. According to Business Standard, Pakistan finds partners in the name of Islam, then seeks help from them. Many experts consider Pakistan as a debt-ridden country. In such a situation, it cannot find a place in BRICS countries.
Who gave the name to BRICS? Jim O’Neill, a British economist, coined the term in 2001 while working at Goldman Sachs, the world’s most powerful investment bank. Then it was only BRIC. This English word is called brick in Hindi. In fact, in the 2000s, the BRIC countries were developing rapidly. The economy was getting stronger. That’s why they were compared to bricks.
What will happen when China overtakes us?
China has developed the economy at a good pace and this growth is progressing rapidly. When China overtakes our economy, it will have some major effects:
1. Trade and Investment: As China’s economy develops, it has become an important market for foreign trade and investment. Due to the maximum power of China, the eyes of foreign investors will turn towards China, which may reduce the competition and opportunities for us.
2. Industrial Development: Due to China’s rapidly growing economy, it has become a leader in industrial development. This means direct competition for our industrial sectors, which can affect the price and sales of our products.
3. Real estate: China’s development can also have an opposite effect on us. Growing housing and industrial development in China requires real estate, which may put pressure on it to purchase land. This can also have an impact on our real estate market.
4. Land Partnership: With the increasing economic power of China, it is becoming capable of land partnership with various countries. This can be helpful in building real estate and power plants, giving him a chance to get stronger.
China’s economy is likely to affect us, and therefore we need to improve our economic plans and improve our products and services. It is a challenge, but with the right direction and policies, we can meet it.
will china take over the world?
The idea of rapid-fire development and growth of China’s frugality rises in the minds of people each over the world. Some believe that China can pacify the world as it grows in profitable and military power, while others consider the idea unwarranted.
There are numerous reasons for the rapid-fire growth of China’s frugality, including growth through their increased product, trade and investment. China produces further material than other countries in the world in colorful capacities, giving it a strong position in the world request. In addition, China also has the world’s largest population, which makes it about one- fifth of the world’s population.
But along with China’s development, there are numerous challenges behind its eventuality. The issues of decelerating down of its profitable growth, adding urbanization and climate change have come before it. In addition, there’s opposition and concern in other countries about China’s eventuality. To face all these issues, China has to take a sensitive approach.
It’s delicate to say with certainty whether or not China will actually be suitable to pacify the world, as it can not be answered with absolute certainty due to colorful factors and vagrancies. This is a sensitive subject that needs a lot of study and consideration.