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Former president Donald Trump has said Prime Minister <keyword id="19895781" type="General" weightage="20" keywordseo="narendra-modi" source="keywords">Narendra Modi</keyword> will meet him next week during his upcoming three-day visit to the US. While the Republican presidential candidate slammed India as an "abuser" on the issue of import tariffs, he described Modi as a "fantastic man". PM Modi will be visiting the US from September 21 to 23. Speaking on Tuesday at his first public appearance following the recent apparent assassination attempt, Trump said Modi will meet him next week when he is in the US. "So when India, which is a very big abuser. He (Modi) happens to be coming to meet me next week, and Modi, he's fantastic. I mean, fantastic man. A lot of these leaders are fantastic," Trump said, reiterating that India imposes heavy tariffs on imports. The former president revealed the information as he spoke about trade and tariffs while responding to a question at a town hall meeting in Flint, Michigan. He went on to say, "These people are the sharpest people. They're not a little bit backwards...You know the expression, they're at the top of their game, and they use it against us. But India is very tough. Brazil is very tough....China is the toughest of all, but we were taking care of China with the tariffs." "So we're going to do a reciprocal trade. If anybody charges us 10 cents, if they charge us USD 2, if they charge us a hundred per cent, 250, we charge them the same thing. And what's going to happen? Everything's going to disappear, and we're going to end up having free trade again. And if it doesn't disappear, we're going to take in a lot of money," he said. Modi will begin his trip with the <keyword id="23214075" type="General" weightage="20" keywordseo="Quad-Leaders-Summit" source="keywords">Quad Leaders' Summit</keyword> being hosted by President Joe Biden in Wilmington, Delaware. The summit will be attended by Prime Minister Anthony Albanese of Australia and Prime Minister Kishida Fumio of Japan. Modi will then travel to New York and address a mega community event in Long Island on September 22. He will address world leaders at the landmark Summit of the Future event at the UN headquarters the next day. Modi's visit comes less than two months before the US heads into presidential elections with Trump and Democratic presidential nominee Vice President Kamala Harris in the race for the top job. The US general elections will take place on November 5.

Trump says PM Modi will meet him during US visit, calls him 'fantastic'

<ul class="summary-list"><li>China's Xi Jinping negotiated a truce with India's leader, Narendra Modi.</li><li>They agreed to a patrolling arrangement on a disputed Himalayan border.</li></ul>At the <a target="_blank" class="" href="https://www.businessinsider.com/russia-hosts-brics-summit-defy-west-us-economy-china-dollar-2024-10">BRICS summit</a> in Russia this week, China's leader Xi Jinping and India's Prime Minister Narendra Modi shook hands for the first time in five years.The symbolic moment came after a deal was struck to resolve a long-standing feud between the Asian superpowers.In the lead-up to the summit, the countries announced they had reached a patrolling agreement that would reduce tensions along a disputed <a target="_blank" class="" href="https://www.businessinsider.com/india-china-buying-new-light-tanks-for-himalayan-mountain-warfare-2023-6">Himalayan border.</a>The dispute had led to deadly hand-to-hand combat in recent years, taking the lives of 20 Indian troops and at least four Chinese soldiers.After their meeting at the summit hosted by Russia's President Vladimir Putin, Xi and Modi said they would continue discussions on resolving the issue.<h2 id="997cee52-7fd6-4283-bf77-94e40a12b5cc">A setback for the US</h2>Some analysts believe it is a development that's unlikely to be welcomed in Washington, DC.The US has sought to recruit India to help it contain China's growing regional aggression alongside other members of the Quadrilateral Security Dialogue, a security pact that also includes Japan and Australia."So definitely, this is a setback for the United States of America's Indo-Pacific outlook, given the kind of rapprochement we are seeing in India-China relations, and particularly India, China and Russia coming together," Jagannath Panda, head of the Stockholm Center for South Asian and Indo-Pacific Affairs, told Business Insider."Putin, Xi, and Modi meeting definitely signals that there is a kind of understanding under the carpet that has happened, which is quite subtle," he said.It's an assessment echoed by Zhiqun Zhu, professor of political science and international affairs at Bucknell University."The thaw in India-China relations is a boon to both countries. This is particularly significant for China because India may now be less inclined to confront Beijing as part of Quad," Zhu told <a target="_blank" class="" href="https://www.voanews.com/a/india-china-deal-raises-questions-about-us-indo-pacific-strategy-/7838623.html">Voice of America. </a>"In this sense, the effectiveness of Quad would be diluted with a less enthusiastic India."<h2 id="baf534cf-4366-41b8-b9ef-d526ffe91fda">Competition between Asia's rival powers intensifies</h2>Tensions have been building between China and India for years.As the two biggest economies in Asia, the countries have long jostled for regional power, with the dispute over the Himalayan border a flashpoint that led to clashes in 2020, 2021, and 2022.Amid the stand-off, Chinese vessels have reportedly surveilled the Indian Ocean in <a target="_blank" class="" href="https://www.reuters.com/world/india/another-chinese-research-vessel-spotted-off-india-fuelling-unease-2024-03-11/">what experts told Reuters</a> was a likely intelligence-gathering operation, while India has strengthened its security ties with China's chief global rival, the US.In 2017 India played a key role in restarting the Quad, an alliance designed as a bulwark against growing Chinese influence and aggression in the Asia-Pacific region.But India has long sought to balance its relationship with rival superpowers the US and China, and does not at this point want to tie itself too closely to either side, say analysts.In addition to being a member of the Quad Alliance, it is a founding member of the BRICS, an <a target="_blank" class="" href="https://www.businessinsider.com/russia-economy-asia-countries-flaunt-russia-putin-diplomacy-relationship-brics-2024-9">association of non-Western economies </a>that China has sought to transform into an alternative global economic power base to the US.<div type="image" title="India-China border" height="683" width="1024" msid="114594056" hostid="261" sizebytes="158650"></div>"This explains why it remains part of multilateral groupings with contradictory goals," said Praveen Donthi, a South Asia analyst with the Eurasia Group in Washington, DC, pointing to both its membership of the US-aligned Quad and China-dominated BRIC group.The truce comes with China on the back foot diplomatically, said Panda, pointing to its damaged relations with Europe and the US after its support f<a target="_blank" class="" href="https://www.businessinsider.com/russia-and-china-anti-us-coalition-is-growing-more-threatening-2024-9">or Russia's invasion of Ukraine.</a>"One could draw a conclusion at this point that probably the Chinese are more interested to rebuild the ties with India than the other way round," said Panda.He said there's also the possibility that Xi has reached an agreement with Modi behind the scenes for India to remain silent if China acts on its longstanding ambition to seize back control of Taiwan.Such a move would likely draw in the US and its other regional allies, who have pledged to help defend<a target="_blank" class="" href="https://www.businessinsider.com/china-taiwan-drone-swarms-uav-us-playing-catch-up-production-2024-10"> Taiwan's independence.</a>"I think China's bigger ambition and target is the Taiwan issue, and therefore they would not really like to continue the kind of tensions they were engaged in with India for the last three to four years," he said."Therefore, they would like to rebuild, and they would like to ensure that India does not react to the Taiwan issue so sensitively."In any case, its a setback in US attempts to include India in a deeper security alliance, he said."For a long time, the US has tried to develop security and defense ties with India," said Panda.For the time being, a truce suits both Russian and Chinese interests, Rahul Bhatia, an analyst at the Eurasia Group, said. But, he added, tensions remain.He said that though both parties have opened discussions about the border dispute, the underlying problem remains unresolved, and future flare-ups are likely.Donthi said the progress between the leaders could also be derailed if tensions between the US and China increase."This comes as a relief after four years of eyeball-to-eyeball troop deployment in the Himalayas. However, it's only the beginning," he said.

Xi undercut the West by negotiating a truce in China's long feud with India

<ul><li>The <keyword id="23635775" type="General" weightage="100" keywordseo="Snapdragon-8-Elite" source="keywords">Snapdragon 8 Elite</keyword> Mobile Platform has been announced at the <keyword id="23643588" type="General" weightage="20" keywordseo="Snapdragon-Tech-Summit" source="keywords">Snapdragon Tech Summit</keyword>.</li><li>The flagship chipset will power the next-gen flagship smartphones.</li><li>Here’s everything you need to know about the Snapdragon 8 Elite Mobile Platform.</li></ul> <keyword id="19944986" type="General" weightage="20" keywordseo="Qualcomm" source="keywords" meta.keywordsubtype="org" meta.entityname="Qualcomm" meta.hostid="261" meta.entityid="Qualcomm">Qualcomm</keyword> today announced the Snapdragon 8 Elite Mobile Platform, the company’s latest flagship mobile chipset at the Snapdragon Tech Summit 2024. The Snapdragon 8 Elite will power the next-gen flagship Android smartphones. The Snapdragon 8 Elite chipset is the successor of the Snapdragon 8 Gen 3 chipset and comes with a new moniker. In addition to announcing the chipset, the American chip giant also revealed some of the devices that will be launched with the new chipset in the coming weeks. <h2>Snapdragon 8 Elite features and specifications</h2>The Snapdragon 8 Elite uses the company’s second-gen Oryon CPU with a custom eight-core structure. It offers two prime cores clocked at 4.32 GHz and six performance cores clocked at 3.53 GHz. It offers support for 5,300MHz LPDDR5X RAM. <div type="Article" hostid="261" msid="114275922" title="Samsung Galaxy Ring is now available in India at ₹38,999" mstype="2" mssubtype="0"></div> The new chipset is built on TSMC’s 3nm process and is claimed to offer a 45% boost in CPU performance and a 44% improvement in power efficiency. Coming to the graphics, the Snapdragon 8 Elite is equipped with a revamped Adreno GPU which is claimed to offer 40% improved performance and power efficiency. For gamers, it is claimed to offer 35% improved ray tracing performance. This will also be the first chipset to offer support for Unreal Engine 5.3. "We are so excited to bring the power of Qualcomm Oryon to our Snapdragon mobile platforms for the first time. It's a major leap forward and we expect consumers to be thrilled with the new experiences enabled by our CPU technology,” said Chris Patrick, senior vice president and general manager of mobile handsets, Qualcomm Technologies. The chipset is equipped with the new Hexagon NPU that will enable 45% boost in performance and power efficiency. <div type="Article" hostid="261" msid="114210864" title="Pixel 9 Pro to go on sale in India from October 17 – price, specs and everything you need to know" mstype="2" mssubtype="0"></div> Qualcomm has also announced a new AI engine with Multimodal Gen AI support, which is aimed at improving interactions, understanding voice, text, images and even see content through your camera. The Snapdragon 8 Elite packs a triple ISP (Image Signal Processor), enabling cameras to capture 8K HDR video or shoot photos at over 200 MP resolution. Qualcomm’s new Spectra ISP ensures superior low-light performance, faster autofocus, and enhanced image processing. The Snapdragon 8 Elite comes with the Snapdragon X80 5G Modem-RF System along with the Qualcomm 5G AI Suite Gen 3. It offers download speeds of up to 10 Gbps and Wi-Fi 7 support via FastConnect 7900. <h2><keyword id="21843015" type="General" weightage="20" keywordseo="iQOO-13" source="keywords">iQOO 13</keyword></h2>iQOO has confirmed that the iQOO 13, its flagship smartphone with the Snapdragon 8 Elite chipset will launch at an event in China on October 30. The company has also teased the India launch of the device and has said that the device will be available through Amazon India. <div type="image" title="iQOO 13" msid="114464075" hostid="261" sizebytes="31674" caption="&amp;lt;p&amp;gt;iQOO 13 teaser&amp;lt;/p&amp;gt;"></div> It will feature a large 6,150mAh battery and offer 120W fast charging support. This will be a huge increase from the 5,000mAh battery offered with the<a href="https://www.businessinsider.in/tech/mobile/news/iqoo-12-review-flagship-performance-and-cameras-at-an-affordable-price/articleshow/105937154.cms"> iQOO 12</a>. The iQOO 13 will be available in four colour options – Black Racetrack, Gray, Isle of Man and White Legendary Edition. Vivo has also revealed that its upcoming X200 Ultra will be equipped with the Snapdragon 8 Elite chipset. <h2><keyword id="23451323" type="General" weightage="20" keywordseo="Xiaomi-15" source="keywords">Xiaomi 15</keyword> series</h2>Xiaomi has confirmed that the upcoming Xiaomi 15 series will be powered by the Snapdragon 8 Elite chipset, going on even claim that its devices will be the first to be launched with the new chipset. The company has said that it has revamped HyperCore and this will offer a 3-degree Celsius decline in temperatures while gaming and reduce the power consumption by up to 29.7%. <h2><keyword id="20850131" type="General" weightage="20" keywordseo="OnePlus-13" source="keywords">OnePlus 13</keyword></h2>The OnePlus 13 is among the most awaited smartphones in the affordable flagship segment and is set to be launched in China on October 31. While the Indian launch is still a while away, we will get to know everything about the device later this month. The company has already confirmed that the device will be powered by the Snapdragon 8 Elite chipset. “Over the years, OPPO and Qualcomm Technologies have maintained a close collaboration to bring users numerous innovative experiences, including when it comes to on-device generative AI. We are looking forward to the launch of our flagship masterpiece, the OnePlus 13, which will adopt the Snapdragon 8 Elite Mobile Platform as OnePlus ushers in the new decade,” said Henry Duan, Senior Vice President, OPPO. <h2>Samsung</h2>Samsung has also said that its upcoming flagship devices will be powered by the Snapdragon 8 Elite chipset. While the company has not said which devices will use the chipset, it will likely include devices from its Galaxy S25 series and the new Galaxy Z Fold and Galaxy Z Flip smartphones. <h2><keyword id="23642262" type="General" weightage="20" keywordseo="Realme-GT-7-Pro" source="keywords">Realme GT 7 Pro</keyword></h2>Realme has claimed that its flagship smartphone, the Realme GT 7 Pro, which is scheduled to launch in November will be the first device to be powered by the Snapdragon 8 Elite chipset. “At Realme, we’re committed to being the first to push boundaries and cutting-edge technology to our customers. We couldn’t be prouder to be the first brand in India to launch a smartphone featuring the Snapdragon 8 Elite Chipset,” a Realme spokesperson said. <h2><keyword id="23643587" type="General" weightage="20" keywordseo="ROG-Phone-9" source="keywords">ROG Phone 9</keyword></h2>One of the phones that gamers look out for every year is the ROG Phone as it features powerful hardware and this year’s ROG Phone 9 will be no different. Asus has confirmed that the ROG Phone 9 will be powered by the Snapdragon 8 Elite chipset and will be announced on November 19. The company is expected to pair the chipset with up to 24GB RAM and 1TB internal storage. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/upi-refund-scam-to-digital-arrest-scam-here-are-most-common-online-scams-in-india/articleshow/114428011.cms">UPI refund to digital arrest scam, here are some online scams you need to be aware of</a> <a href="https://www.businessinsider.in/personal-finance/news/best-credit-cards-for-online-shopping-in-india/articleshow/114354358.cms">Best credit cards for online shopping this festive season</a> <a href="https://www.businessinsider.in/tech/mobile/webstories/best-smartphones-under-25000-in-india-in-october-2024/slidelist/114339207.cms">Best smartphones under ₹25,000 in India in October 2024</a>

Snapdragon 8 Elite announced, to power iQOO 13, OnePlus 13, Xiaomi 15 series and more

<ul class="summary-list"><li>Russian President Vladimir Putin is hosting the BRICS summit in Kazan, Russia.</li><li>Putin is touting trade in local currencies, a move away from the US dollar.</li></ul>Russian President Vladimir Putin is hosting a major summit with over 20 world leaders, whom he's trying to convince to ditch the dollar.De-dollarization is one of Putin's priorities because trading in local currencies means that a heavily sanctioned Russia would not be beholden to the Western US dollar-dominated global financial order.But it's not easy to move away from the greenback. BRICS' summit organizers have advised foreign attendees to bring cash — specifically, US dollars and euros — to the event, in the Russian city of Kazan.Most Russian banks will only take US dollars or euros — which Moscow has deemed "toxic currencies" — to exchange for rubles, according to a guide on the <a target="_blank" class="" href="https://brics-russia2024.ru/en/summit/participants/cards/">summit's website.</a>Going cashless isn't an option, since it's not possible to use Mastercard or Visa cards issued outside Russia in the country. The two card issuers <a target="_blank" class="" href="https://www.businessinsider.com/visa-mastercard-suspend-operations-in-russia-amid-ukraine-invasion-2022-3">halted local operations</a> days after Russia invaded Ukraine in 2022.China's Union Pay cards may be used — "but with restrictions," per the guide.Attendees may apply for Russia's Mir payment card — and there's a bank at Kazan's international airport to get a card, exchange currency, and withdraw cash.These issues with payments not only undermine the bluster of the BRICS group's call to de-dollarize, but they also underscore the immense challenge BRICS would have to unseat King Dollar, which is firmly entrenched in the global financial order.The group of emerging nations anchored by Brazil, Russia, India, China, and South Africa is not giving up.On Tuesday, Putin again touted the use of local currencies on the sidelines of the summit's first day."The growth of payments in local currencies makes it possible to reduce the debt service fee, increase the financial independence of BRICS member countries, and also to mitigate geopolitical risks to the greatest extent possible and, as much as possible in the current world, separate economic development from politics," Putin said on Tuesday at a meeting with Dilma Rousseff, the president of the BRICS New Development Bank, according to <a target="_blank" class="" href="https://tass.com/world/1859601">Russia's TASS state news agency.</a><h2 id="49d28f59-3027-4723-802e-f105b909d1c0">Putin caps a social year with BRICS summit</h2>Putin is also hobnobbing with Chinese leader Xi Jinping, Indian Prime Minister Narendra Modi, South Africa's president, and the UN Secretary-General at the summit this week. Brazilian president Luiz Inácio Lula da Silva canceled his trip after a fall at home.The BRICS summit is larger this year because the <a target="_blank" class="" href="https://www.businessinsider.com/brics-summit-countries-interested-brazil-russia-india-china-south-africa-2023-8">West-weary</a> group has welcomed the new members of Egypt, Ethiopia, Iran, and the United Arab Emirates over the past year. Saudi Arabia has been invited but has not formally joined the club.Russia is the BRICS chair this year, so a bigger summit is a feather in the cap for Putin, who has had a <a target="_blank" class="" href="https://www.businessinsider.com/russia-economy-asia-countries-flaunt-russia-putin-diplomacy-relationship-brics-2024-9">busy social calendar</a> this year, even though Russia and the Russian leader himself have been heavily sanctioned.Before the BRICS summit, Putin was already globetrotting and socializing with top leaders from Asian countries including <a target="_blank" rel="" class="" href="https://www.businessinsider.com/putin-bromance-xi-jinping-display-china-remains-wary-russia-2024-5">China,</a> <a target="_blank" rel="" class="" href="https://www.businessinsider.com/russia-economy-india-modi-putin-hug-west-isolation-big-blow-2024-7">India,</a> <a target="_blank" rel="" class="" href="https://www.businessinsider.com/vietnam-russia-putin-visit-us-wary-manufacturing-supply-chain-diplomacy-2024-6">Vietnam,</a> and <a target="_blank" rel=" nofollow" class="" href="http://en.kremlin.ru/events/president/news/74678">Indonesia.</a>Despite the BRICS' interest in reshaping the world order, the group is fraught with rivalries and competing interests that it first has to overcome, analysts told <a target="_blank" class="" href="https://www.businessinsider.com/russia-hosts-brics-summit-defy-west-us-economy-china-dollar-2024-10">Business Insider.</a>"Behind the rhetoric, there's a huge concern — even within Russia — whether the new members will become their equals," said Evgeny Roshchin, a visiting scholar at Johns Hopkins University's Henry A. Kissinger Center for Global Affairs, at a press briefing held by the Center for European Policy Analysis on Monday.

Putin's dollar problem is on clear display at the BRICS summit, starting with the moment guests land at the airport

<ul class="summary-list"><li>Russia is hosting a BRICS summit this week, showing the limits of attempts to isolate it.</li><li>The grouping is buoyant after ballooning from five members to nine.</li></ul>Russia is flexing its muscles at the center of the BRICS economic bloc which seeks to rival the West.The nation is hosting a meeting of the grouping this week, the first since the group almost doubled its membership.The larger grouping gives them more weight — and is a rebuke to Western-led attempts to isolate Russia economically.It also complicates the grouping, introducing new competing interests and rivalries.Geopolitical analysts say it could dilute the group's ability to take action, and reduce it to a talking shop.Iran, Egypt, Ethiopia, and the United Arab Emirates are the new BRICs entrants, joining earlier members Russia, India, China, Brazil, and South Africa. Saudi Arabia has been invited to join but has not formally done so yet.Russian President Vladimir Putin <a target="_blank" class="" href="https://brics-russia2024.ru/en/">touted</a> the expansion as proof of the group's "growing authority" and role in international affairs.Yet geopolitical tensions and competing interests among the group are dragging down Russia's efforts to use it to chip away at the dominance of the West, particularly the US dollar."BRICS expansion is no easy task," said Abishur Prakash, the founder of The Geopolitical Business, a strategy advisory firm in Toronto."It risks creating rival camps within the group," he told Business Insider.<h2 id="a422f5a1-a2fa-40bb-898f-89b58f30e598">A 'raw' grouping</h2>Since its founding in 2006 — with Brazil, Russia, India, and China as members, before South Africa joined in 2010 — the bloc has tried to challenge Western economic dominance.Over the past two decades, its members experienced significant economic growth. After the recent expansion, its member states represent almost 46% of the world's population and about 25% of global exports.Last year, more than 40 countries <a target="_blank" href="https://www.businessinsider.com/brics-summit-countries-interested-brazil-russia-india-china-south-africa-2023-8">expressed interest</a> in joining the bloc.But Anton Barbashin, cofounder and editorial director at Riddle Russia, an online journal on Russian affairs, described the group as a "raw collection" of countries.They have "no chance" of political unity due to competing interests and starkly differing attitudes, he said.Members have grappled with <a target="_blank" class="" href=" https://www.cfr.org/backgrounder/what-brics-group-and-why-it-expanding">internal disagreements</a> over relations with the West, territorial claims, and Russia's invasion of Ukraine.Others are engaged in internal standoffs. India and China have clashed over disputed territory along their border, though they <a target="_blank" class="" href="https://www.youtube.com/live/QiqK0eIJn8E">announced a deal</a> on patrolling arrangements this week.Some countries — notably India and South Africa — also have a tricky balancing act to do, engaging with the group without alienating their partners in the West.<h2 id="1875563d-1228-4de5-a7cc-5b63106239c1">Talking shop</h2>Barbashin told BI that the BRICS Summit is important for Russia because it has been cut out from other international platforms.It's a way to communicate and possibly strike "some deals in the future that we don't necessarily foresee," he said.In total, representatives of 32 countries are set to attend the summit this week, according to Moscow.Barbashin said that the group's size masks its relative impotence."It's just a nice facade," he said, "and it falls within the idea that economic growth should translate into a greater political setting."Leaders are expected to discuss how far members are willing to commit to the group.Una Aleksandra Berzina-Cerenkova, director at Riga Stradins University's China Studies Center, told Politico that "China uses BRICS to give it a mandate to push global visions and post-Western vision."During a press briefing held by the Center for European Policy Analysis on Monday, one analyst foresaw major hurdles for the group to move past its status as a "debating club."Evgeny Roshchin, a visiting scholar at Johns Hopkins University's Henry A. Kissinger Center for Global Affairs, said the group would need to choose how to distribute power between its members should more join."Behind the rhetoric, there's a huge concern — even within Russia — whether the new members will become their equals," he said, noting that Russia could lose its leverage and decision-making among a large group of notionally equal members.<h2 id="ab0780f6-acfd-427a-bc7c-109fb06111f1">Taking on the dollar</h2>Another challenge BRIC members like Russia and China face is trying to change the fundamentals of global <a target="_blank" rel="noopener noreferrer" class="c-link" href="https://www.businessinsider.com/russia-economy-commodities-trading-centers-brics-us-dominated-global-finance-2024-10">financial trading systems</a> that rely overwhelmingly on the US dollar.During a <a target="_blank" rel="noopener noreferrer" class="c-link" href="http://en.kremlin.ru/events/president/news/75349">BRICS Business Forum</a> in Moscow last week, Putin said group members were working on alternative payment systems, as a rival to SWIFT.The alternative systems would aid cross-border payments between members, according to a <a target="_blank" rel="noopener noreferrer" class="c-link" href="https://www.yakovpartners.com/publications/imfs/">report</a> by Russia's finance ministry, its central bank, and consultancy Yakov &amp; Partners.It envisioned a network of payments using local currencies rather than a default reserve currency like the dollar.Russia already has a model it can look to for transactions among central banks: the mBridge system under the <a target="_blank" rel="noopener noreferrer" class="c-link" href="https://markets.businessinsider.com/news/currencies/cbdcs-crypto-central-banks-bis-digital-currencies-bitcoin-stablecoins-tether-2021-9">Bank for International Settlements</a>.BRICS members are also toying with alternative currencies, spanning Chin'a digital yuan and Moscow's interest in crypto.The greenback, though, will be <a target="_blank" class="" href="https://markets.businessinsider.com/news/currencies/de-dollarization-dollar-war-currency-usd-dominance-china-yuan-economy-2024-5">hard to dethrone</a> — even without competing priorities and rivalry among BRICS members."Russia wants to create an alternative to Western financial infrastructures," Barbashin said.But "there's no chance of making anything like a union or an alliance," he said.BRICS members are united in that they want to see change, he said "but there's no real strategy within BRICS aside from fancy phrases to make it work."

Putin's expanded BRICS summit proves he has friends — but risks buckling under its own contradictions

<ul class="summary-list"><li>Brazil, India, South Africa, and Saudi Arabia declined to endorse Ukraine's sovereignty this weekend.</li><li>It came at the end of a Ukraine peace summit in Switzerland. </li></ul>Over the weekend, Ukrainian President Volodymyr Zelenskyy rallied countries from around the world to support his call for Russia to end its invasion."Russia can start negotiations tomorrow if they pull out of our territories," Zelenskyy said at a peace conference in Switzerland, according to the <a target="_blank" href="https://www.bbc.co.uk/news/articles/cxrr1kyp04eo">BBC</a>.The conference is one of the most high-profile attempts to date to find an agreement on routes to peace.But there are some crucial problems. Russia wasn't there, nor was its key global backer, China.Nearly 100 countries did send delegations, including many of Ukraine's most important allies and major non-Western powers.At the end of the conference, about 80 signed a document blaming the war on Russia and affirming Ukraine's territorial integrity.But it was telling who didn't sign — Saudi Arabia, Brazil (which didn't formally attend but sent a delegation), India, and South Africa."Unfortunately, there are people who are still balancing," Zelenskyy said of the abstentions.He said Russia was seeking to divide the world against Ukraine — evidently with some success.Russian President Vladimir Putin is seeking to drive a wedge between those countries and the West, using oil, propaganda, and diplomacy.It has been especially effective in the "<a target="_blank" href="https://www.businessinsider.com/sc/why-support-from-the-global-south-is-critical-for-peace-in-ukraine">Global South</a>" of non-Western powers whose wealth and influence on world affairs is growing.<h2 id="5c80b91d-831c-4174-98e8-dae7b6103ecc">Exploiting global divisions</h2>In the wake of Russia's full-scale invasion of Ukraine in February 2022, the US assembled a coalition of countries to impose sanctions on Russia and isolate it diplomatically.But powerful non-Western countries refused to take part.Each of the countries that refused to sign the Ukraine document has strong ties with the US, particularly India and Saudi Arabia, which want American help in regional power struggles.But each has also maintained good relations with Moscow, with Putin using Russia's oil and diplomacy to cultivate relations.To offset Western sanctions, Russia sold oil at cut-price rates to India and Brazil and has worked closely with <a target="_blank" href="https://www.businessinsider.com/saudi-arabia-mohammed-bin-salman-power-broker-mbs-crown-prince-2023-12">Saudi Arabia</a> to control global prices.The <a target="_blank" href="https://www.chathamhouse.org/2024/05/russia-using-soviet-playbook-global-south-challenge-west-and-it-working">Chatham House</a> analyst Natalie Sabanadze wrote in May that Russia had succeeded in "bringing deep-seated resentment against the West to the fore.""Many states have relished the opportunity to defy Western pressure by helping Russia evade sanctions and reaping benefits for themselves in the process," Sabanadze continued.Putin has exploited long-standing grievances about Western imperialism and has renewed alliances forged during the Soviet era.<h2 id="e6b0addd-33f6-4653-ae60-234187bebda4">Russia renews Cold War-era alliances</h2>During South Africa's period of racial apartheid, tolerated by many in the West, the USSR opposed it and supported the African National Congress party, which has ruled since apartheid ended.The Soviet Union also helped India in its Cold War-era clashes with Pakistan.Some of those allegiances appear to have held firm.Over the past year, Russia has organized conferences with African and Latin American nations. It's seeking to <a target="_blank" href="https://www.businessinsider.com/biden-xi-meeting-china-plan-supplant-us-working-apec-summit-2023-11">expand the BRICS group</a> of major non-Western economies, viewing it as a bulwark against Western powers.Russia has also seized on claims that Western support for Israel in its war against Hamas is evidence of hypocrisy.It's to Putin's advantage when those countries see Russia vs. Ukraine and Israel vs. Hamas as <a target="_blank" href="https://www.businessinsider.com/putin-wants-world-think-wars-gaza-ukraine-western-plot-russia-2023-10">equivalent struggles</a>, both complex enough to avoid taking a side.Some analysts have also suggested a more cynical calculus, telling Business Insider that some countries are simply hedging their bets by refusing to back either Russia or Ukraine.<a target="_blank" href="https://www.businessinsider.com/saudi-mohammed-bin-salmans-biden-threat-appears-pay-off-oil-2023-6">Saudi Arabia</a> and India have both trod this middle path.<a target="_blank" href="https://x.com/smita_sharma/status/1802283282693865873?s=46&amp;t=itcSHGtE0ezHJx3yL_GcHA">Pavan Kapoor</a>, a senior Indian diplomat, said from Switzerland that his country didn't endorse the statement because "only those options acceptable to both parties can lead to abiding peace."For Putin, that fence-sitting is proof of success.

Key holdouts at a Ukrainian diplomatic summit are proof that Putin's diplomatic playbook is working

<ul class="summary-list"><li>Members of the Shanghai Cooperation Organization are meeting in Kazakhstan Wednesday. </li><li>It comes amid increasing tensions between two of the group's most powerful members. </li></ul>The leaders of a club of countries touted by Russia and China as a counterweight to Western global power are meeting this week in Kazakhstan.At the Shanghai Cooperation Organization (SCO) in Kazakhstan's capital Astana, Russia's President Vladimir Putin is scheduled to meet China's President Xi Jinping.<a target="_blank" href="https://www.reuters.com/world/putin-arrives-kazakhstan-russia-china-dominated-sco-summit-2024-07-03/">During their discussion, they will reportedly </a>seek ways to expand the organization as part of their shared mission to roll back US global power.But despite their "no limits" partnership brokered over shared enmity toward the US and its NATO allies, there are growing differences between frenemies Putin and Xi.<h2 id="0cd26d3b-51d1-4175-99ae-48c549e8681e">Ukraine has shifted the balance of power</h2>The leaders are in fierce competition for influence over the original members of the SCO — the Central Asian Republics of Kazakhstan, Kyrgyzstan, Tajikistan, and Uzbekistan.The SCO was formed as a regional security pact, but has in recent years expanded to include India, Pakistan, and Iran. Belarus, another opponent of NATO, is expected to be admitted this week.The Central Asian republics were formerly part of the Soviet Union and are seen as traditionally part of the Kremlin's sphere of influence.But the Ukraine war has shifted the balance of power.Russia's Ukraine invasion has eaten up the Kremlin's resources, money, and energy, while countries trading with Russia run the risk of incurring Western sanctions.Meanwhile, Beijing has been quietly seizing advantage, brokering trade deals, and building political influence in the region."The war in Ukraine has proven to the central Asian countries that the diversification of their ties with the world is key to their successful existence in the region," Temur Umarov, a fellow at the Carnegie Russia Eurasia Center, <a target="_blank" href="https://www.theguardian.com/world/article/2024/jul/03/xi-jinping-central-asia-trip-china-vies-regional-influence-russia">told The Guardian.</a>China is building car plants and power stations in Ukbekistan and Kazakhstan, brokering surveillance software deals, and expanding its direct railway line into Kazakhstan, to further strengthen trade links.Trade between China and Central Asia grew by 27% in 2023 to $89 billion, <a target="_blank" href="https://eurasianet.org/china-reports-robust-trade-growth-with-central-asian-states">according to Chinese customs data.</a>Although Russia is likely to be concerned by the developments, it cannot do much about them.<h2 id="70abeace-ebc2-43fc-a254-07ca4ddc7271">A lopsided partnership</h2>Russia has become increasingly dependent on China for diplomatic and economic support amid attempts by the West to isolate it over the Ukraine war."The importance of Chinese aid and indirect support for Ukraine takes precedence for Moscow and will shape its approach toward Beijing as long as the confrontation with the West continues," wrote Emil Avdaliani, a professor of international relations at European University in Tbilisi, in January for <a target="_blank" href="https://cepa.org/article/china-uses-crises-to-build-central-asia-influence/">the Centre for European Policy Analysis.</a>Russia is seeking to strengthen trade with the Central Asian republics and, according to reports, is using them to obtain goods banned under Western sanctions. But it can't compete with China's economic might.While Russia has brandished its ties with China as proof of the failure of the West to isolate it, it's a friendship that comes at a steep cost."We are friends with Russia but at the same time, we are looking for opportunities," Mirshohid Aslanov, founder of the Tashkent-based think tank Center for Progressive Reform, told <a target="_blank" href="https://www.wsj.com/world/beijing-and-moscow-go-from-no-limits-friendship-to-frenemies-in-russias-backyard-52b3f1a4?st=4s1fan3skw96t37&amp;reflink=desktopwebshare_permalink">The Wall Street Journal.</a> "Very eagerly, we are looking eastwards."

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