Xi to attend BRICS Summit in South Africa next week

Chinese President Xi Jinping is set to attend the BRICS leaders’ meeting and visit South Africa from August 21 to 24. The BRICS summit brings together leaders from Brazil, Russia, India, China, and South Africa, aiming to discuss ways to enhance their collective influence on the global stage.

The BRICS countries collectively account for a quarter of the global economy and are seeking to challenge the dominance of Western powers in global affairs. The leaders’ meeting in Johannesburg will focus on expanding the group’s influence and potentially welcoming new members.

Russian President Vladimir Putin, who faces an international arrest warrant over alleged war crimes in Ukraine, will attend the summit via a video call instead of being present in person.

Approximately 40 nations have expressed interest in joining BRICS, either formally or informally, with countries like Saudi Arabia, Argentina, and Egypt showing interest. China has been supportive of expansion as it aims to increase its global influence, while Russia is also in favor of expansion. However, Brazil is cautious about expansion, fearing that it could dilute the club’s standing. India’s stance on expansion remains uncertain.

In addition to participating in the BRICS meeting, President Xi will co-chair the China-Africa Leaders’ Dialogue with South African President Cyril Ramaphosa. This reflects China’s ongoing efforts to strengthen its relationships with African nations and promote its geopolitical influence in the region.

Elevate your business with QU4TRO PRO!

Gain access to comprehensive analysis, in-depth reports and market trends.

Interested in learning more?

Sign up for Top Insights Today

Sign up for Top Insights Today

Top Insights Today delivers the latest insights straight to your inbox.

You'll get daily industry insights on

Energy, Cleantech, Oil & Gas, Mining, Defense, Aviation, Construction, Transportation, Online Retail, Bigtech, Finance and Politics of Business

By clicking subscribe you agree to our privacy and cookie policy and terms and conditions of use.

Read more insights

UK-India trade deal marks strategic shift as global tariff wars escalate

The free trade agreement (FTA) between Britain and India marks a pivotal moment for both countries’ trade strategies, offering a pragmatic response to the growing volatility of the global trade environment, particularly under the pressure of U.S. tariffs. Finalized after three years of intermittent negotiations, the deal carries both symbolic and economic significance, even if its immediate economic impact may be modest relative to the size of each economy.

The backdrop to this agreement is one of global protectionism. U.S. President Donald Trump’s sweeping tariffs have disrupted global trade patterns, prompting countries to hasten bilateral deals to hedge against American unpredictability. The UK-India deal is emblematic of this trend, as negotiators reportedly cited Trump’s tariff war as a catalyst for pushing the agreement over the line.

Gold’s new high signals shift from safe haven to strategic asset

Gold’s latest surge to a fresh record, spot prices briefly pushing above roughly $4,440/oz and settling solidly higher on the day, reflects a familiar pattern in which a geopolitical catalyst arrives when positioning and momentum are already primed.

The immediate trigger was a renewed flight to safety as U.S.-Venezuela tensions escalated following President Donald Trump’s stated “blockade” of sanctioned oil tankers linked to Venezuela. In thin, year-end liquidity, that kind of headline risk can amplify moves that might otherwise have been more incremental.

US Treasury Secretary Yellen to tackle China’s overcapacity in clean energy

U.S. Treasury Secretary Janet Yellen has expressed her intention to address China’s subsidies for its clean energy industries, such as solar panels and electric vehicles, during an upcoming visit to the country. Yellen aims to discuss concerns about overcapacity in these sectors, which has led to…

Stay informed

error: Content is protected !!