Samson: Brix is a new giant led by Putin to curb the influence of America .. Know him in 10 questions
11th August, 2018
Shanghai, China, has received the opening ceremony of the new development bank of the BRIX Group, which has set its first infrastructure finance targets in the BRIC countries and developing countries. The establishment of the bank is a reflection of the efforts made by Brix Group recently, The world has a new economic entity that is opposed to the “one-pole” fiscal policy. And to end the dominance of the IMF and the World Bank on the world’s economic capabilities, and to stop harnessing, adapting and using them for the benefit of certain forces that control these two institutions, without the rest of the world.
With the launch of the BRIX train and its emerging institutions, one by one, several questions have arisen in the financial and economic circles, starting with the Brix Group. And its objectives? How will Brix and its institutions curb US policy in controlling the mechanisms of the global economy? And other questions, including 10 questions that reveal the details of the economic giant and its recent projects and new.
1. What does “BRICS” mean?
“BRICS”, a word with abbreviations for the English word “BRICS”, a word composed of the initials of the names of 5 countries with the fastest rates of global economic growth, with the order of “Brazil, Russia, India, China and South Africa.”
Brix is ??a group of countries that have agreed to create an “anti-economic” entity for the Western economic entities of the International Monetary Fund and the World Bank and a new global banking system that eliminates the US-led “one-pole” policy To control the world’s capabilities and exploit it economically by directing economic policies and imposing restrictions on developing countries through the IMF and the World Bank, especially on developing countries and third world countries.
2. How was the Brix Group established?
Prior to the accession of the South African country, the group was called the “Bric” Bric, and began to negotiate the establishment of this group during a meeting of foreign ministers of the four countries, “Brazil, Russia, India and China” in New York September 2006, on the sidelines of a meeting of the General Assembly of the United Nations, Leaders of countries first summit in June 2009.
In the Russian city of Nekaterinburg, during 2010, South Africa led extensive negotiations and wide negotiations with the group’s countries to join them and succeeded in formally joining in December of the same year to announce to the world the launch of a new economic threat that threatens the global polarization controlled by America and its movement , And to solve the global economic system a new entity called “Brics” .. is determined to stabilize its size without expansions, and work on the implementation of agreements and prominence on the world stage as an effective organization, as revealed by Russian Foreign Minister Sergei Lavrov, who confirmed in his statements Before the summit Said that the members of Brix were not currently contemplating expansion of the group’s membership, citing the desire of Member States to implement the binding agreements of the parties first, before considering any new expansions.
3. Where is the BRIX Group located? Who is its current president?
The Brix Group is headquartered in Shanghai, China, and the Group’s new Development Bank is also opened in the same city. The five members of the group rotate each year on a regular basis.
On April 1 this year, Russia took over the chairmanship of the group and for a full year of Brazil.
Moscow, during its chairmanship of the group this year, has set several targets, including the launch of the new development bank and the cash reserves fund. The group is to be nominated by the first president of the board of governors of the bank by Russia, while the first president of the board will be nominated by Brazil, and the first president of the executive directors will be nominated by India.
4. How much capital is the BRIX Group?
The Brix Group has a capital of nearly $ 200 billion, divided into $ 100 billion, as the capital of Brix International Development Bank, and another $ 100 billion to the cash reserve fund. Russian President Vladimir Putin announced ahead of the UEFA summit in Russia last month that the Group leaders signed at the sixth summit held last year in the Brazilian city of Fortaleza the bank’s $ 100 billion founding document, with a capital of $ 50 billion US $ 10 billion each.
5. What is BRIX’s new development bank?
Is currently a member of the BRICS Group. Its current membership is limited to the five BRICS countries, with a target capital of LE 100 billion. Its paid-up capital is initially $ 50 billion, distributed equally across the five countries at $ 10 billion per country.
The new bank was to be called the Brix Bank, but the leaders of the five countries decided to give up the name of Brix, in order to expand the bank’s membership in the future, and give the opportunity to the countries wishing to join it.
The new bank, which is located in Shanghai, China, was approved by the Chinese Parliament on July 1 and launched on the 21st of the same month to become one of the largest banks in the world to practice independent monetary policies and is headed by Kondabur Vaman Kamakhan, Will be able to provide aid and loans in April 2016.
6. What are the objectives of the BRIX Group?
In particular, the Brix Group aims at creating an international balance in the economic process, ending the unilateral polarity policy, the United States’ dominance of global financial policies, and finding an effective and effective alternative to the International Monetary Fund and the World Bank as well as economic, political and geopolitical integration among the five countries And the development of infrastructure in the countries of the group, and to achieve effective mechanisms of contribution among the five countries in times of crisis and economic degradations instead of resorting to Western institutions, and to find an effective way to grant and exchange loans between the countries of the group does not affect and does not cause any economic imbalance Any of the countries of the group despite the assistance of the affected state. As well as strengthening the global economic safety net for those countries and avoiding the pressure of borrowing from Western institutions and tying them to benefits.
7. What is the mechanism for contributing to the foreign reserves fund of BRIX?
The five BRIC countries agreed that China would start injecting $ 41 billion into the fund, being the largest economy in the group, while Russia, Brazil and India would allocate equal shares of $ 18 billion each.
$ 5 billion is being pumped from South Africa as the group’s smallest contributor. In July, the Central Bank of Russia announced that the agreement signed by the five countries for the establishment of the Fund include the delicate operations carried out by the central banks of the countries of “Brix” and that these central banks of the five combined to provide mutual funding in US currency within the Fund in the event of any problems In liquidity, and the Central Bank of Russia confirmed that the Fund will be able to overcome the shortage of liquidity, in the short term, between the countries of the group, and cover the budget deficit in times of economic instability.
8. The challenges facing Brix?
The major challenges facing Brix Group are the differences in the economic policies of the countries participating in the group, as well as the cultural and historical disparities and fiscal policies of each country, and the interplay of various economic systems of varying sizes and currency rates in one economic system. Another challenge that President Putin personally spoke about is the Group’s desire to develop a strategy for economic cooperation between these five countries, which would create the conditions for accelerating economic development, enhancing their competitiveness, expanding and diversifying trade relations, and ensuring interaction for growth. Innovation.
To achieve the investment “saturation” of this document, a number of future cooperation projects are being studied, along with the consolidation of political positions towards international issues and the issues presented. As well as a number of other economic factors, the most important of which are the following:
(A) The establishment of more favorable credit terms for third world countries and developing countries.
(B) Internationalization of local currencies and conducting trade between the United States and the United States.
(C) the possibility of providing future and concessional loans to third world and developing countries;
(D) Providing better credit facilities than those imposed by the Bank and the International Monetary Fund;
(C) Accelerating economic integration among the five members of the Group.
(H) Achieving faster growth rates for countries belonging to the Group.
9. Numbers to know about “Brix”
– The GDP of the five participating countries represented more than a quarter of the world’s GDP.
– The area of ??the five “Brix” combined more than a quarter of the world.
– The population of the Brix countries represents more than 40% of the world population.
– 10.8% of the volume of global military spending.
– 40.2% of the volume of production of global energy sources.
– 16.1% of Brix’s share of the world trade volume in 2013.
10. The most important common positions of BRIX countries?
1. The Prix Group rejected the external military intervention in the Syrian conflict and considered it unacceptable.
2. The position of the States of the Group on the Syrian conflict and the need to stop it through peaceful solutions.
3. The Brix group rejected military intervention in the Iranian crisis.
4. One view of the Middle East and North Africa.
5 – Rejection of the Western sanctions imposed on Russia and considered illegal and not deal with them.
6 – a unified vision on dealing with issues of poverty, corruption and investigations in the countries of the third world and developing.
7. A unified vision on the need to create a multipolar world.
8. Efforts by President Putin to establish a long-term development strategy among the five countries.
9. Opposing the construction of Israeli settlements and considering them contrary to international law.
10. Reject US-led electronic espionage and consider it a form of terrorism.
11. BRICS seeks to establish its own Internet cable to avoid US espionage.
12 – Seek to reduce dollar transactions between the five countries, some of them.
13. Efforts by President Putin to establish an energy union among the five countries.
14. A desire to integrate the Eurasian market with the Latin American markets.
15. Joint efforts by the five countries to address infectious diseases, particularly in Africa.