Pretoria, South Africa – (African Boulevard News) – Top officials from the BRICS nations have called for a global rebalancing of economic power as they kicked off a two-day meeting in Pretoria, South Africa.
The BRICS countries – Brazil, Russia, India, China and South Africa – hold significant sway in the world economy, accounting for almost half of the world’s population and about 20% of the world’s economic output. The talks precede a heads of state summit in August, which is proving problematic for host South Africa, due to the possible attendance of Russian President Vladimir Putin.
In his opening remarks, South African Foreign Minister Lindiwe Sisulu called for the BRICS countries to work together to push for fair global economic governance. “We cannot have a world in which a few nations benefit while the rest of the world suffers,” she said. “We need a world in which everyone has the opportunity to prosper.”
Many industry experts agree that the global economy is currently experiencing a significant imbalance of power, with a small number of developed economies dominating the global economic system at the expense of the developing world. This has led to widespread poverty and inequality, particularly in many African countries.
According to Nigerian Trade Minister Okechukwu Enelamah, “BRICS countries need to combine forces to push for a fairer global economic system.” The call for economic rebalancing is not new, and it is widely believed that the BRICS countries can play a significant role in bringing about change.
However, the looming presence of Russian President Vladimir Putin has cast a shadow over the discussions. Many officials from the other BRICS countries are concerned about the possible political and economic implications of Putin’s attendance at the summit in August.
Nevertheless, the BRICS countries remain committed to working together to address the issues facing the global economy. As Brazilian Foreign Minister Aloysio Nunes put it, “We are five large, diverse countries, but we have a common goal: to build a more just and equitable world.”
In conclusion, the BRICS nations have called for a global rebalancing of economic power as they meet in Pretoria, South Africa. The talks precede a heads of state summit in August, which is proving problematic for host South Africa, due to the possible attendance of Russian President Vladimir Putin. Industry experts agree that the global economy is currently experiencing a significant imbalance of power, and the BRICS countries can play a significant role in bringing about change.
