The Financial Times reported that China will invite its BRICS colleagues during the upcoming summit in Johannesburg, to turn the organization into a full-fledged geopolitical competitor to the G7.
“If BRICS countries expanded to be responsible for a share of global GDP, like the G7, their common voice in the world will become stronger,” according to Chinese official.
It’s known that the G7 is an economic and political group that includes seven countries, Britain, Germany, Italy, Canada, France, Japan and the United States.
The Financial Times reports that South African President Cyril Ramaphosa has invited leaders and heads of government of more than 60 countries to the summit scheduled for August 22-24, while, according to South African officials, 23 countries have expressed interest in joining the BRICS group.
However, sources familiar with the positions of China and India told the Financial Times that tensions are running high between Beijing and New Delhi over what the expansion should look like.
The main disagreement is whether the BRICS should be a neutral club defending the economic interests of developing countries or a political force that should openly oppose the West.
The Financial Times quotes an unnamed Brazilian diplomat who spoke in favor of clearer rules for accepting new members, “It’s important to set criteria for new members to join,” he said.
The BRICS summit will be held from August 22 to 24 in Johannesburg under the presidency of South Africa.
The BRICS group is an international organization that includes Russia, Brazil, India, China and South Africa, whose economies account for 23% of the volume of the global economy and 18% of the volume of international trade.