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Brics

Brics
Brics (an acronym for Brazil, Russia, India, China and South Africa) refers to an association of 10 leading emerging markets. The other member states are Egypt, Ethiopia, Indonesia, Iran and the United Arab Emirates.
US tech bosses and officials attend a welcome ceremony at the Great Hall of the People in Beijing on May 14 as US President Donald Trump and Chinese President Xi Jinping arrive. Photo: AP
Diplomacy

Outside In | Xi-Trump summit aside, 2 meetings in Asia matter for global trade

As Trump travelled to Beijing for the kind of bilateral dealmaking he prefers, two groups have continued their multilateral efforts.

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Trade

Opinion | Brics is less a structure than a sentiment

India

Iran’s ‘anti-American’ rhetoric tests India’s balancing act at Brics meeting

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Diplomacy

Opinion | Just because Brics isn’t a coherent bloc doesn’t mean it’s impotent

The grouping has a future, not as a binding structure demanding policy alignment but as a tool for members to enhance leverage and maximise options.

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Illustration: Craig Stephens
US, Israel war on Iran

Iran war tests India’s Brics leadership as ‘political relevance’ questions mount

With Brics members Iran and the UAE as belligerents, the bloc has failed to reach a common position on the Middle East conflict.

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Banking & finance

Brics to push for intra-currency payments as ‘immunity’ against Western clout

New Delhi has to be wary of any move to challenge the US dollar as it seeks to sign an interim trade deal with Washington, analysts say.

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China-India relations

Opinion | India’s reopening to Chinese investment reflects strategic pragmatism

Concerns about signalling weakness misread India’s careful policy design. Foreign investment rules have not been abolished, only recalibrated.

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Prime Minister Narendra Modi has “Make in India” ambitions for the country. Allowing cautious Chinese investment would enable Indian companies to localise supply chains rather than remain dependent on imports. Photo: AFP
Hong Kong economy

Opinion | Hong Kong can play vital part in boosting crucial China-India relations

India is a vibrant, emerging and complex power with much to offer the city and China as a whole.

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US, Israel war on Iran

Why has the US-Israeli war on Iran left Brics speechless?

As Tehran retaliates against its Gulf neighbours, the newly expanded bloc built for trade is discovering the limits of its own unity.

US, Israel war on Iran

Open Questions | Iran war’s impact on China limited, scholar Pan Guang says

China’s Middle East position ‘relatively favourable’, professor says, and regional spillover from US-Israeli attacks likely to be limited to Tehran’s Shia militia allies.

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Illustration: Victor Sanjinez
Currencies

Why Brics can’t do away with US dollar even as currency cooperation rises

Brazil says there has been no proposal or talks within Brics to create a common currency across the bloc.

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Brics leaders meet at their 2025 summit in Rio de Janeiro, Brazil. Photo: AFP
India

India and Brazil set sights on US$30 billion trade milestone by 2030

The two founding Brics members are deepening links on rare earths, innovation and AI to diversify growth beyond the West.

Africa

African Union: youth anger mounts over corruption, lack of accountability

Africa has the youngest population in the world, with more than 400 million people aged 15 to 35 years old – set to double by 2050.

China-India relations

China and India seek reset in talks, but old fault lines remain

Beijing stresses partnership and multilateralism; New Delhi underscores border stability, caution and gradual steps after years of strain.

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China’s Executive Vice Minister of Foreign Affairs Ma Zhaoxu (left) and Vikram Misri, India’s foreign secretary, in New Delhi on Tuesday. Photo: Handout
US-China relations

Trump’s ‘vacillating’ China policy causing confidence crisis in allies: report

‘Sweeping destruction – rather than careful reforms and policy corrections – is the order of the day’, Munich Security Report 2026 says.

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Munich Security Report 2026 says “the world has entered a period of wrecking-ball politics”. Photo: Handout
India

India’s trade blitz seeks to keep afloat a sinking global order

‘Jolted out of its slumber’ by US tariffs, New Delhi is aggressively diversifying trade alliances to act as a bridge in a polarised world.

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India

Opinion | Why the new US-India trade agreement is a big deal

The warming of New Delhi’s ties with Washington has implications for Russia, China and the global dynamics of trade and geopolitical power.

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Banking & finance

Opinion | Central banks are propelling a 21st century global gold rush

The world must choose between believing in the authority of central banks to decide the worth of fiat currencies or trusting in gold as a store of value.

A customer and an employee count Thai baht banknotes at a gold shop in Bangkok’s Chinatown, Thailand, on October 9, 2025. Photo: Reuters
Indonesia

‘Resilience’ is Indonesia’s new foreign policy buzzword, but is it just rhetoric?

Analysts warn the vague concept lacks a long-term strategy and risks Jakarta drifting from its non-aligned values into transactional deals.

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Mainland China

Did China, Russia, Iran joint naval drills in South Africa signal a Brics shift?

Observers describe high-profile exercise involving economic grouping as largely symbolic rather than step towards military alliance.

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Diplomacy

Testing the waters: is Brics evolving into a security alliance?

The first naval exercises under the ‘Brics plus’ banner saw Brazil, Egypt, China, Russia and South Africa take part. India did not.

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A Russian corvette ship is seen near Cape Town, South Africa, on January 9. The Will For Peace exercise brings together navies from Brics-plus countries. Photo: AFP
SCO

Could the Iran crisis push Global South blocs to deepen security ties?

A lack of response from the SCO and Brics could have a negative impact on the groups – but the crisis could also bring them closer.

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US President Donald Trump has threatened “very strong action” if Iranian authorities begin executing anti-government protesters. Photo: AFP
China’s military drills

China to lead joint naval drills with Brics nations in South African waters

It is the first defence cooperation under the Brics framework, with the Russian and Iranian navies reportedly taking part.

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Indonesia

Power, protests and policy shake-ups shape Indonesia’s 2025

President Prabowo Subianto asserts his authority as he navigates the global stage and domestic challenges in his first full year in office.

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War and conflict

Opinion | Welcome to a world where wars don’t end and sanctions don’t work

The age of ‘distributed multipolarity’ shows that superpowers alone can no longer dictate international affairs.

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Illustration: Craig Stephens
Asean

Opinion | In its year under Malaysia, Asean tried to set systemic reform in motion

Despite grumbles about loss of focus and misgivings about the longevity of new networks, Malaysia, ironically, perhaps didn’t go far enough.

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Malaysian Prime Minister Anwar Ibrahim hands the gavel over to Philippine President Ferdinand Marcos Jnr at the closing ceremony of the 47th Asean summit in Kuala Lumpur, Malaysia, on October 28. The Philippines takes over as Asean chair on January 1. Photo: Xinhua
South Africa

Trump administration warns South Africa not to issue G20 statement

US opposes South Africa’s G20 agenda, while Trump escalated tensions with false accusations of genocide against White Afrikaners and land grabs.

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China-Latin America relations

Brazil’s Lula opens Cop30 demanding courage – and cash – to save the planet

Chinese Vice-Premier Ding urges nations to honour Paris pledges with fairness and justice, calling for global climate action.

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