Bloomberg: BRICS expansion speaks to failure of US leadership
The expansion of the BRICS confirms the growing demand to find an alternative to the existing Western-led world order and also shows the failure of US leadership, Bloomberg news agency reported on Tuesday.
“The growing appetite for an alternative to the existing international order is important in its own right – and indicative of the failure of U.S. leadership,” the agency said in a piece on the BRICS expansion.
Bloomberg notes, however, that the decision to expand the association to include Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the UAE could lead to more contradictions within the bloc and complicate coordination.
It is also reported that India, South Africa and Brazil initially had reservations about BRICS expansion, not wanting “the group to unite against the US and its G7 partners in a tougher way”. But the decision taken at the South Africa summit to expand BRICS may indicate a desire to change the current international order, the agency said.
“Despite their differences, the BRICS-11 countries apparently agree that the current global rules and institutions do not adequately serve their interests,” the agency concludes.
Earlier, Russian President Vladimir Putin and Indian Prime Minister Narendra Modi noted in a telephone conversation that the BRICS expansion will undoubtedly contribute to the association’s growing influence in international affairs.
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