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Brics

Brics
Brics (an acronym for Brazil, Russia, India, China and South Africa) refers to an association of 10 leading emerging markets. The other member states are Egypt, Ethiopia, Indonesia, Iran and the United Arab Emirates.
Illustration: Henry Wong
Diplomacy

Opinion | The significance of China’s joint air force drills with Egypt

As recent air drills in Egypt indicate, after decades of building economic interests abroad, China is developing the ability to put military power behind them.

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Indonesia

Indonesia-US joint military drills with allies kick off with 4,700 soldiers

China-India relations

Before Xi’s India visit, China and India confirm 8 steps to ease border tensions

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Diplomacy

Opinion | For states, being part of everything doesn’t mean being part of nothing

The opposite of commitment is breach, not multiplicity. A nation’s reliability isn’t measured by how many treaties it signs.

The United Nations General Assembly Hall in New York on March 25. Governments increasingly face the same demand: prove the depth of your commitment by closing the door on everyone else. Photo: Zuma press wire / dpa
China-Latin America relations

Brazil presidential debate zeroes in on Chinese investment and US tariffs

‘What matters to Lulism is that we keep buying the finished product from China while we sell ore or sell our grain’: candidate Renan Santos.

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India

Can India and China rally Brics to ease Strait of Hormuz tensions?

Analysts say a unified Brics could support Oman-led talks for a resolution and provide an alternative to US diplomacy.

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China-Latin America relations

Brazil turns to China trade deal after Trump tariffs, as years of resistance end

Xi and Lula agree to fast track Mercosur trade talks, endorsing a deal Brasilia fought to bury when Uruguay first proposed it.

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Chinese President Xi Jinping (left), seen here with Brazilian President Luiz Inacio Lula da Silva in Brasilia, Brazil, in November, 2024. The pair have agreed to accelerate negotiations for a trade agreement between China and Mercosur. Photo: Xinhua
China-Latin America relations

China vows to defend Brazil’s sovereignty as Trump’s 25% tariff bites

Wang Yi tells Brazilian foreign minister Beijing backs Brazil’s sovereignty, and asks for support on ‘China’s own core interests’ in return.

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Diplomacy

Opinion | What the Iran war has revealed about Brics+

Those arguing that the conflict has exposed the grouping as a failure misunderstand its role.

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Diplomacy

Opinion | How Asia can benefit from a Russia-India-China dialogue revival

Far from acting as another bloc, such a grouping could help ensure that regional competition is managed rather than reproduced.

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(From left to right) Russian President Vladimir Putin, Indian Prime Minister Narendra Modi and Chinese President Xi Jinping hold a meeting on the sidelines of the G20 summit in Osaka, Japan, on June 28, 2019. Photo: SPUTNIK / AFP
Diplomacy

Outside In | Xi-Trump summit aside, 2 meetings in Asia matter for global trade

As Trump travelled to Beijing for the kind of bilateral dealmaking he prefers, two groups have continued their multilateral efforts.

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US tech bosses and officials attend a welcome ceremony at the Great Hall of the People in Beijing on May 14 as US President Donald Trump and Chinese President Xi Jinping arrive. Photo: AP
Trade

Opinion | Brics is less a structure than a sentiment

Despite lacking geopolitical alignment, Brics captures a prevailing mood among emerging economies that won’t fade away any time soon.

India

Iran’s ‘anti-American’ rhetoric tests India’s balancing act at Brics meeting

Foreign Minister Araghchi seeks the bloc’s backing against US pressure in New Delhi, but India likely to prioritise de-escalation and trade.

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Diplomacy

Opinion | Just because Brics isn’t a coherent bloc doesn’t mean it’s impotent

The grouping has a future, not as a binding structure demanding policy alignment but as a tool for members to enhance leverage and maximise options.

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Illustration: Craig Stephens
US, Israel war on Iran

Iran war tests India’s Brics leadership as ‘political relevance’ questions mount

With Brics members Iran and the UAE as belligerents, the bloc has failed to reach a common position on the Middle East conflict.

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India’s Prime Minister Narendra Modi chats with Brazilian President Luiz Inacio Lula da Silva during the 2025 Brics summit in Rio de Janeiro last July. Photo: AP
Banking & finance

Brics to push for intra-currency payments as ‘immunity’ against Western clout

New Delhi has to be wary of any move to challenge the US dollar as it seeks to sign an interim trade deal with Washington, analysts say.

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China-India relations

Opinion | India’s reopening to Chinese investment reflects strategic pragmatism

Concerns about signalling weakness misread India’s careful policy design. Foreign investment rules have not been abolished, only recalibrated.

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Hong Kong economy

Opinion | Hong Kong can play vital part in boosting crucial China-India relations

India is a vibrant, emerging and complex power with much to offer the city and China as a whole.

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Illustration: Craig Stephens
US, Israel war on Iran

Why has the US-Israeli war on Iran left Brics speechless?

As Tehran retaliates against its Gulf neighbours, the newly expanded bloc built for trade is discovering the limits of its own unity.

US, Israel war on Iran

Open Questions | Iran war’s impact on China limited, scholar Pan Guang says

China’s Middle East position ‘relatively favourable’, professor says, and regional spillover from US-Israeli attacks likely to be limited to Tehran’s Shia militia allies.

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Currencies

Why Brics can’t do away with US dollar even as currency cooperation rises

Brazil says there has been no proposal or talks within Brics to create a common currency across the bloc.

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Brics leaders meet at their 2025 summit in Rio de Janeiro, Brazil. Photo: AFP
India

India and Brazil set sights on US$30 billion trade milestone by 2030

The two founding Brics members are deepening links on rare earths, innovation and AI to diversify growth beyond the West.

Brazilian President Luiz Inacio Lula da Silva and Indian Prime Minister Narendra Modi hold a press conference after a meeting in New Delhi on Saturday. Photo: EPA
Africa

African Union: youth anger mounts over corruption, lack of accountability

Africa has the youngest population in the world, with more than 400 million people aged 15 to 35 years old – set to double by 2050.

China-India relations

China and India seek reset in talks, but old fault lines remain

Beijing stresses partnership and multilateralism; New Delhi underscores border stability, caution and gradual steps after years of strain.

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US-China relations

Trump’s ‘vacillating’ China policy causing confidence crisis in allies: report

‘Sweeping destruction – rather than careful reforms and policy corrections – is the order of the day’, Munich Security Report 2026 says.

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Munich Security Report 2026 says “the world has entered a period of wrecking-ball politics”. Photo: Handout
India

India’s trade blitz seeks to keep afloat a sinking global order

‘Jolted out of its slumber’ by US tariffs, New Delhi is aggressively diversifying trade alliances to act as a bridge in a polarised world.

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Indian Prime Minister Narendra Modi (centre) with European Commission President Ursula von der Leyen (right) and European Council President Antonio Costa at Hyderabad House in New Delhi on January 27. Photo: European Council/dpa
India

Opinion | Why the new US-India trade agreement is a big deal

The warming of New Delhi’s ties with Washington has implications for Russia, China and the global dynamics of trade and geopolitical power.

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Banking & finance

Opinion | Central banks are propelling a 21st century global gold rush

The world must choose between believing in the authority of central banks to decide the worth of fiat currencies or trusting in gold as a store of value.

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