The admission of the African Union as a permanent member of the G20 bloc may be the biggest threat to the BRICS which is dominated by China and Russia.
In August at the BRICS Summit in South Africa, the bloc onboarded six new members to form a strong opposition to the G20 which is dominated by the US, China, UK, France, Russia, the EU and other countries.
BRICS comprises Brazil, Russia, India, China and South Africa.
BRICS invited Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the UAE to join by 2024 expanding the membership to 11.
But in a fresh twist, the G20 on Saturday admitted the AU, a union of 1.3 billion people.
Indian Prime Minister Narendra Modi welcomed the current AU chair, Comoros President Azali Assoumani.
But the Chinese President Xi Jinping was absent in the 2023 annual Summit, signaling that he has given up on the bloc.
Rather, Chinese Premier Li Qiang is leading China’s delegation in the Indian capital.
Russian President Vladimir Putin is also absent at the Summit due to the arrest warrant placed on him over the Russia-Ukraine war.
“Some have speculated China’s absence indicates that it is giving up on the G20, building an alternative world order, that it will privilege groupings like the BRICS,” Jon Finer, the U.S. Deputy National Security Adviser said to reporters.
China and Russia are seeking to weaken the West controlled by the US using its alternative bloc, BRICS.
At the last Summit, they discussed dumping the dollar for a BRICS currency.
The process of de-dollarisation is “irreversible” and “gaining pace”, Putin said in a virtual address at the BRICS Summit.
Brazil President, Luiz Inacio Lula da Silva, called for a BRICS currency to reduce their vulnerability to the US dollars.
“A BRICS currency increases our payment options and reduces our vulnerabilities,” he said at the summit’s opening plenary session.
Dollar is the reserve currency of the world since the end of World War II.
