BRICS leaders are meeting in Rio de Janeiro to strengthen trade and technology exchanges, influenced by US tariffs. Brazilian President Lula da Silva hosts the summit, attended by major leaders like Indian Prime Minister Modi and Chinese Premier Li Qiang. Notably absent is Russian President Putin, under an ICC arrest warrant for alleged war crimes. Formed initially as BRIC in 2001 to reflect Brazil, Russia, India, and China's economic potential, the bloc now promotes a multipolar world and represents the Global South's interests against established Western dominance.
The BRICS bloc, formed in 2009, was initially coined as BRIC by economist Jim O'Neill to identify Brazil, Russia, India, and China as emerging economies. These countries were recognized for their substantial GDP growth, extensive populations, and increasing global influence. Since then, BRICS has evolved to include South Africa and aims to challenge the traditional US-led global order by pushing for a multipolar world and enhancing the role of developing nations in global governance.
Leaders are convening to fortify trade and technological exchanges within BRICS in response to external economic pressures, notably the tariff threats from the US. Brazilian President Lula da Silva is hosting the talks, despite lack of attendance from Russian President Putin due to legal issues with the ICC, indicating the bloc’s adherence to complex geopolitical dynamics.
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