In a shocking diplomatic upheaval, Chinese President Xi Jinping has announced he will skip the upcoming BRICS summit in Brazil, marking the first time in over a decade he has missed such a crucial gathering. This unexpected decision comes amid escalating tensions within the bloc, particularly following India’s refusal to support a key initiative aimed at reducing reliance on the US dollar. The stakes are high: with China’s economy accounting for nearly half of BRICS’ combined GDP, Xi’s absence sends a powerful signal of discord.
The backdrop to this crisis is India’s recent defiance of BRICS’ agenda, explicitly stating its intent to continue using the US dollar in international trade. This move has infuriated both China and Russia, who have long pushed for a shift towards a more autonomous financial system. The situation intensified when Brazilian President Lula extended a formal dinner invitation to Indian Prime Minister Narendra Modi, a gesture perceived as a significant diplomatic endorsement of India’s rising influence—one that Xi found intolerable.
As the summit approaches, the potential absence of both Xi and Russian President Vladimir Putin raises urgent questions about the future of BRICS. Is this the beginning of the end for the alliance? With China pivoting towards strengthening bilateral ties with Brazil and other nations, the once-cohesive bloc appears to be unraveling. The implications of this fracture extend beyond mere geopolitics; they threaten the very foundation of a collective effort to challenge US dominance.
While BRICS grapples with these internal rifts, China is forging ahead with direct partnerships that yield immediate results, bypassing the sluggishness of collective decision-making within the bloc. The question looms large: will BRICS survive this crisis, or has it become merely a symbolic relic on the global stage? The world watches with bated breath as the dynamics of international power shift dramatically.