China Says NO to IMF and World Bank: What Next?

Good

The rest of the world should stay away from any organisations controlled by USA and its allies, like IMF and World Bank

Imf and wb,the same clown 🤡 whit diferent oufit.(United States of america).

That's impressive, viva China

Be careful man.. Chinese dont grant. She loans with premium interest rates. Beside due to her domestic issues, they will soon need to print a lot of Yuan bonds to be purchased by her own central bank.

I think china is not a good leader u see china doing in the philippines bulliying and water teritory of the philippines to the EEZ in south china sea i see already what china want also control the world

The authoritarian regime can trade among themselves using their own currency.

Is this channel paid by China? It sounds like their propaganda!

Break away from imf and world bank. They are just there to trap poor countries into paying high interests rates.

China already has its own international cooperation development bank. Their working model and economic strategy are slightly different from the West. so they are more comfortable working alone, rather than with the west. or they may be building their own friendship networks, such as with Russia, Arabs, south America or African countries, which are independent of the economic influence of western countries.

I agree china

Very good contents..

https://www.youtube.com/watch?v=woGiURx23uY

Beware..! IMF and world bank abuse power freeze Russia asset..😅

China thinks the development of the countries of the Global South benefits them too!
It's a novel thought which hasn't occurred to the Western countries.
Surely China has to be deluded in this! It can't be that this isn't a zero-sum game, can it?

The IMF and world bank is USA and western allies to control the world. Decouple from imperialistic racist western countries.

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THE BIG QUESTION Features | Politics Can BRICS create a new world order?

Dozens of nations want to join the five-nation club. But to challenge the US-led global hierarchy, BRICS first needs to overcome internal fissures.

Big Question BRICS [Nataliia Shulga/Al Jazeera] By Nils Adler

Published On 22 Aug 2023

They are giant economies, with even bigger populations and still greater ambitions. Starting Tuesday, leaders of the group of nations known as the BRICS – Brazil, Russia, India, China and South Africa – are meeting for a three-day summit, which is expected to draw eyeballs from capitals around the world.

Russian President Vladimir Putin will not attend the August 22-24 conclave in Johannesburg, South Africa, but will participate via a video conference to save the country the embarrassment of hosting a leader with an International Criminal Court (ICC) warrant against him related to Moscow’s war in Ukraine. South Africa is a member of the ICC and, under international law, would have been obligated to arrest Putin if he were to visit.

Yet, while the conflict in Ukraine and deepening geopolitical tensions between the United States and China serve as the backdrop for the summit, the BRICS meeting is likely to foreground the grouping’s growing standing as a force challenging a long-dominant, Washington-led world order.

The expansion of BRICS is expected to be high on the agenda. It is a club in demand. From Algeria to Argentina, at least 40 countries have shown interest in joining the grouping.

Central to the grouping’s attraction is its rising economic heft. The five BRICS nations now have a combined gross domestic product (GDP) larger than that of the G7 in purchasing power parity terms. In nominal terms, the BRICS countries are responsible for 26 percent of the global GDP. Despite this, they get only 15 percent of the voting power at the International Monetary Fund (IMF).

Coupled with grievances over such imbalances are growing concerns in the Global South that the US could weaponise the dollar through sanctions the way it has against Russia. That has led to BRICS nations individually and collectively trying to reduce their dependence on the US currency while increasing bilateral trade in their own currencies.

Agreeing that something needs to change is one thing, but agreeing on how to work together is another. India and China have been locked in a tense border standoff since May 2020. Meanwhile, India, South Africa and Brazil want warm relations with the West as much as they do with China and Russia.

So, will the BRICS emerge as an alternative economic and geopolitical pillar to the US and its allies? Or could their internal differences limit what the group can accomplish?

The short answer: The clout of BRICS nations is likely to grow but the bloc is much more likely to offer piecemeal economic and diplomatic alternatives to the US-led global order than to dramatically replace it, analysts say. That could still lead to more tensions with the West as the grouping’s leaders seek to chart out an independent path in a world in flux. But to remain effective, the BRICS will need to manage the disparate priorities of its member nations – a challenge that will not be easy for the grouping to address.

Interactive_BRICS Summit_August 2023

(Al Jazeera)

‘Voice’ of the Global South

In opening remarks at the BRICS foreign ministers meeting in South Africa on June 1, Indian Foreign Minister Subrahmanyam Jaishankar described the current concentration of economic power as one that “leaves too many nations at the mercy of too few”.

It is a sentiment that resonates across the developing world, where the United Nations Security Council’s veto-holding power remains limited to five nations based on an understanding rooted in 1945, at the end of World War II.

In recent years, cracks in that US-led model have deepened. China, a dominant force in global economics as well as a military powerhouse, is testing the limits of Washington’s influence. Iran’s Foreign Minister Hossein Amir-Abdollahian visited Riyadh last week and met Saudi Arabia’s Crown Prince Mohammed bin Salman in the latest step towards a pathbreaking normalisation of ties between the traditional Middle Eastern rivals, brokered by China.