17 h. ago Brazil blasts the West ahead of Brics summit, while China avoids talk of tariffs

Brazilian President Luiz Inacio Lula da Silva and New Development Bank (NDB) president Dilma Rousseff accused the US, its allies and the Western-dominated financial order on Friday of weaponising tariffs and sanctions. They also used the opening of the Brics bank’s annual meeting to call for new models of development and cooperation across the Global South. Speaking before finance ministers and governors from Brics nations and new members in Rio de Janeiro, Lula said the NDB was proof that...

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17 h. ago ‘Brics bank’ blasts West ahead of leaders’ summit, China mute on tariffs

Brazilian President Luiz Inacio Lula da Silva and New Development Bank (NDB) president Dilma Rousseff accused the United States, its allies and the Western-dominated financial order on Friday of weaponising tariffs and sanctions. They also used the opening of the Brics bank’s annual meeting to call for new models of development and cooperation across the Global South. Speaking before finance ministers and governors from Brics nations and new members in Rio de Janeiro, Lula said the NDB was proof...

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3 d. ago Questions loom at Brics Rio summit about group’s effectiveness

Brics country leaders are meeting for the bloc’s annual summit in Rio de Janeiro this week, as questions loom about the group’s effectiveness as a voice of the Global South and counterweight to the Washington-led coalition of developed economies. Against the backdrop of relentless tension that US President Donald Trump has injected into America’s trade policy, this year’s gathering on July 6 and 7 will test whether the bloc can present a unified front capable of countering Trump’s efforts to...

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8 d. ago US, China reach ‘understanding’, Xi to miss Brics summit: SCMP’s 7 highlights

We have selected seven stories from the SCMP’s coverage over the past week that resonated with our readers and shed light on topical issues. If you would like to see more of our reporting, please consider subscribing. 1. White House says US reaches ‘understanding’ with China on rare earth shipments The United States and China reached a “framework” agreement on how to facilitate rare earth shipments, implementing a deal based on bilateral trade talks that started last month in Geneva,...

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8 d. ago US, China reach ‘understanding’, Xi to miss Brics summit: 7 highlights

We have selected seven stories from the SCMP’s coverage over the past week that resonated with our readers and shed light on topical issues. If you would like to see more of our reporting, please consider subscribing. 1. White House says US reaches ‘understanding’ with China on rare earth shipments The United States and China reached a “framework” agreement on how to facilitate rare earth shipments, implementing a deal based on bilateral trade talks that started last month in Geneva,...

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1 week ago In a first, Xi will miss Brics in Rio as Li leads China delegation: sources

Chinese President Xi Jinping will not attend next week’s Brics summit in Rio de Janeiro, marking his first-ever absence from the gathering of leading emerging economies, the Post learned from multiple sources on Tuesday. According to officials familiar with the matter, Beijing told the Brazilian government that Xi had a scheduling conflict. Instead, Premier Li Qiang is expected to lead the Chinese delegation, as he did at the G20 summit in India in 2023. Chinese involved in preparations, they...

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