Algeria has submitted an official application to join the emerging-market bloc of BRICS, which groups Brazil, Russia, India, China and South Africa, media reports said on Monday, citing Leila Zaruki, the Algerian Foreign Ministry special envoy for international partnership.
Algeria is Africa's biggest gas exporter and reportedly supplies about 11 percent of the natural gas consumed in Europe. As the global economy has entered a period of uncertainty and volatility partly due to the rampant inflation and high energy prices, some European countries have increasingly looked to Algeria to seek a solution.
Amid the current complex international environment, the North African country has gained more geopolitical importance and its application to join the BRICS grouping has drawn people's attention. In August, Algerian President Abdelmadjid Tebboune reportedly said that his country was ready to join BRICS.
There are other countries like Turkey, Saudi Arabia and Egypt who have also expressed their interest in strengthening their ties with BRICS members, or who are seeking to directly join the group. Their enthusiasm has demonstrated the strong vitality and attractiveness of the BRICS mechanism. The influence of BRICS cooperation has gone beyond the five countries and acts as a constructive force for boosting world economic growth.
Chinese Foreign Ministry spokesperson Wang Wenbin said in June that China actively supports the BRICS in starting the membership expansion process and expanding "BRICS Plus" cooperation. "China will encourage BRICS parties to continue in-depth discussions on the issue of membership expansion and work out standards and procedures for this process on the basis of consensus," Wang said.
Amid the heightened uncertainty throughout the global economy, some Western observers who have an ideological bias and zero-sum mentality should reflect on why BRICS is increasingly an attractive group that many other countries have confidence in. First, BRICS nations contribute about 50 percent of the economic development of the world, which makes the group very attractive economically. To seek sustainable development, BRICS members have enhanced cooperation in fields including trade, finance, supply chain and smart manufacturing.
BRICS brings together five major emerging market economies, comprising 41 percent of the world's population, owning 24 percent of the world GDP and 16 percent share in the world trade. Their role as an important engine of global economic growth will persist for a long time.
Second, the BRICS spirit of openness, inclusiveness, and win-win cooperation, against the background of increasingly unstable and volatile factors in the international situation, is also attractive to developing countries. BRICS members have differences in geographical features, size and social governance, but they are able to support each other on issues concerning their core interests, multilateralism, safeguarding fairness and rejecting hegemony.
Over the past 16 years since its inception, BRICS has maintained sound momentum of development and made substantive progress in cooperation. Chinese Ambassador to Thailand Han Zhiqiang said in June that China will host more than 170 BRICS events in various fields throughout the year. In the first half of this year, more than 20 ministerial meetings were held.
Currently, even as the world economy shows signs of recovery it faces fresh headwinds on the road to sustainable growth. Global governance is facing enormous challenges brought about by the US government's unilateral sanctions, long-arm jurisdiction and economic decoupling move. Emerging market economies should strengthen coordination and continue to use BRICS as an important platform for cooperation.
The author is a reporter with the Global Times. [email protected]
The Palestinian Center for Human Rights (PCHR), a leading civil rights organization, has accused Israel of carrying out “an organized and systematic practice of sexual torture” against Palestinian detainees from the besieged Gaza Strip.
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According to PCHR, researchers and lawyers interviewed several Palestinians recently released from Israeli custody, who described repeated incidents of rape, forced stripping, filming of abuse, and sexual assault using objects and dogs, along with other forms of psychological humiliation.
One 42-year-old mother, detained while crossing an Israeli checkpoint in northern Gaza in November 2024, told investigators she endured repeated rape and physical abuse over several days.
“They put me on a metal table, pressed my chest and head against it, cuffed my ...
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Senegal has rejected a debt-restructuring proposal put forward by the International Monetary Fund (IMF). The West African country’s prime minister, Ousmane Sonko, said following the plan would amount to a national “disgrace.”
Sonko made the remarks at a rally in the capital, Dakar, on Sunday, days after the Washington-based lender concluded a two-week mission to Senegal without a new financing deal.
Senegal’s public debt has risen to over $11 billion amid the discovery of $7 billion in undeclared loans. The IMF has since frozen a $1.8 billion lending facility to the former French colony, citing misreporting and hidden debt.
Senegalese President Bassirou Diomaye Faye, who came to power in April 2024, has blamed his predecessor, Macky Sall, for the debt crisis.....more here
https://www.rt.com/africa/627581-senegal-rejects-imf-debt-restructuring-proposal/
While Washington dreams of a Golden Dome, Beijing is quietly building one that actually works
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