BRICS says new centers of power, policy decision-making and economic growth are emerging
New centers of power, policy decision-making and economic growth are emerging in the world, BRICS countries said Wednesday in the Kazan Declaration issued at the 16th BRICS Summit.
This trend paves the way for a more equitable, just, democratic and balanced multipolar world order, and provides more opportunities for emerging markets and developing countries to benefit from universally beneficial and inclusive economic globalization, the BRICS countries said.
The summit was attended by 36 countries, highlighting the failure of US-led efforts to isolate Russia over its actions in Ukraine. The Kremlin touted the summit as “the largest foreign policy event ever held” by Russia.
Russia has specifically pushed for the creation of a new payment system that would offer an alternative to the global bank messaging network SWIFT and allow Moscow to dodge Western sanctions and trade with partners.
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