What Is BRICS And Why Is It So Important To The U.S.?: China Expert Breaks It All Down
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- čas přidán 6. 07. 2024
- Zongyuan Zoe Lui, the Maurice R. Greenberg Fellow for China Studies, joins "Forbes Newsroom" to discuss the BRICS Summit and coalition, the alliance between China and Russia, how this affects the U.S., and more.
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Support BRICS,
Go BRICS,
Go new members,
Go new 🌎
BRICS: Lets Talk About Business Expansion
EU, NATO, G7: Lets Talk, How to BULLY?
It's a singular total power controlling governance not a global team effort ..
Economic control ..
So true
BRICS: Let's try to bully other nations by lowering the effects of sanctions on countries with imperial goals.
NATO: don't attack us and we won't attack you.
also lets find a way to start another war with china, so we can sell more weapons to make money
Wow, I didn't know that I can get some real news from Forbes! Great!!!
This is not news. This is an opinion piece in the form of a video lol
The US Dollar should have never been taken off the Gold Standard.
It's unconstitutional that it has been. They never passed the change through the states as they should have.
Yup, Nixon violated the Constitution of our currency and no Americans said anything.
It had to be: the gold standard was being used to manipulate American currency. As long as its managed responsibly, fiat is the way to go to avoid that.
There is enough gold. Human population growth, increasing production ect.
Yeah, you mean the highly volatile gold? There's a reason it was taken off the gold standard.
Gold for the win 🏆
insightful information from Zongyuan Zoe Lui
Would like to thank Biden and Zelensky for making BRICS stronger and with new members plus another 30 waiting to join
You're right
Zelensky is a puppet, he didnt do anything
Even without Biden and Zelensky, people are tired of western bullies led by USA.
And why shouldn’t it be stronger?
Petrol Dollar!
good job egypt and brics
The “high growth” rationale for BRIC was more of the Goldman Sachs definition of BRICS. The BRIC added South Africa at the request of China. The day South Joined was the beginning of BRICS as a geo strategic partnership and alliance.
Now with the addition of six more countries to the BRICS block is.going to seriously challenge the waning American hegemony. The writing is on the wall, or America adjusts, or there will be bitter pills.for our country to swallow.
Russia not china, Putin was a very close friend of then South African president Zuma
BUT SIR MY INDIA IS THE REAL SUPERPOWER 🤗🇮🇳 WE HAVE THE BEST INFRASTRUCTURE AND HIGHSPEED RAIL 🤗🇮🇳 MEANWHILE IN CHINA PEOPLE STILL RIDE RICKSHAW EVERYWHERE AND THEY ALSO POOR DONT HAVE CAR . THIS WHY IM SO LUCKY LIVE IN SUPER INDIA THE CLEANEST COUNTRY IN THE WORLD 🇮🇳🤗 , WE NEVER SCAM! WE GIVE RESPECT TO ALL WOMEN THEY CAN WALK SAFELY ALONE AT NIGHT AND WE HAVE CLEAN FOOD AND TOILET EVERYWHERE 🇮🇳🤗🚽, I KNOW MANY POOR PEOPLE JEALOUS WITH SUPER RICH INDIA 🤗🇮🇳🤗🇮🇳🤗🇮🇳🤗🇮🇳🤗🇮🇳🤗🇮🇳🤗🇮🇳🤗🇮🇳
Well done BRICS ❤️
Yes, a one world government Utopia will be our one day, and BRICS will bring it.
Petro dollar yet prevails
@@dh5380 No, have you seen the economy of Russia and China. Wow, it bad.
@@Madame702 it is better than the US
@@elladowling2005 Is it, if your a Russia, one Russian ruble is worth less then a American penny. Russia are now putting all their money in US dollars.
What is the statement in the frame behind the speaker?
11:50 How did you not mention "mBridge" within BIS (Bank for International Settlements). Another option to SWIFT.
Brics really missed a trick. If they'd called themselves Cribs, they could have had a show on MTV.
They can still have a show
🤣🤣🤣 very funny!
Let me do you one better. They shouldn't have added South Africa. Now they can't use the phrase, "We're all BRICked up!"
Argentina’s inclusion going forward is more significant than Saudi Arabia. Argentina is a top producer of lithium a metal used in batteries for electric vehicles. Oil and therefore oil money is fast becoming irrelevant. By 2030 65% of cars sold will be electric and by 2035 85% of cars sold will be electric. This is the reason the oil countries are desperate for a way out of a dead end.
That's what they said yes. They've made their money with oil and are ready to invest now. 👍
You haven’t listened to the economists saying this is not only fiscally impossible but fiscally irresponsible and dangerous in terms of carbon output increase. Hydrogen will be the future of majority of transportation concerns, hybrid hydrogen electric vehicles may reach 65% market saturation by 2053… but definitely not by 2030.
Well, they're not selling very well right now. Hybrids seem a better way to go.
Electric vehicles are not going to work. Wishful thinking that is impractical. You can't dry electric cars in cold areas and the grid infrastructure is going to be unrealistic for the world. For example: anyone living in rural areas or areas that are not tied into the grid or are for from high voltage lines will not have the capability to charge vehicles because: physics. When I go offroading, there is no way to get the torque and have enough energy to drive out to a charge station. And people in urban areas often lack charging stations or ability to charge their cars due to them not always having a parking space in front of their house. It's not practical. Not going to be adopted.
If you really believe that in seven years years 65% of cars sold will be EVs, I have great real estate in Saudi Arabia to sell to you!
Bricks is so important were at war with R, and talking about war with C, and yelling at I and B, and ignoreing the issues with S
Most of the countries on Brics have socialist inclinations and very authoritarian leaders. Americans should think twice if they want another USSR in the future... *you can see comment bots in videos about the topic already.* Think wisely...
@@redacted2275you look like the comment bot by posting the exact same comment twice!!
( But you forgot, Z !)
But then again, they're not financing the Ukraine
So what?
Why should they?, they got US giving them billions of dollars they’re good.
BRICS all of its founding members are active members of the G20. In the G20 the economic conditions of its member countries are almost equivalent and there is not a big gap between one another.
The difference with the BRICS is that there are no clear criteria for new members where there are countries that are developed and there are countries that are still lagging behind economically. It is possible that in the future weak countries will only become market targets for products from more developed countries
You must understand BRICS was not design to be the Anti-American or Anti-NATO league. It was simply a grouping of countries that main traded with China that's it.
BRICS brings economic freedom to third world countries, thanks a lot to brics countries good idea.
You really think CN, SA and RU are going to help 3rd world countries? Really that’s what you believe…
Keep telling yourself that homie
@@brockthroton3535 they will certainly not be France. Also, Russia is building a massive training complex for African and Latin American students to teach them rebotics, programming, and nuclear energy. 30,000 a year is a good dent.
@@comeforaride teach them or use them?
After all the robots are nukes are completed/programmed is the RU suddenly
1)going to gift then all to Africa/LA no strings attached
2)or take them(land/resources) to control for them selves
?? Choose an option
Yes, we all want "One World Government". BRICS will bring a one world government Utopia. Yes, yes!!!!!
We stand for brics❤❤❤❤❤❤
Thank you ❤
Death to the Dollar!
yeah, OK. 🤣🤣🤣🤣🤣🤣🤣🤣
She mentions how they admitted many of the oil/natural gas providers in order to ensure its goals. If so, then why are countries pushing for non hydrocarbon fuel options? This shoots the electric vehicle campaign in the foot.
Brics❤❤❤❤❤❤❤❤❤❤❤
Countries want to move away from the dollar but wealthy people still want the dollar for their wealth.
If certain purchases are not done in dollars, the illegal arms trade can flourish, even more than it does now. With dollar denominated trades that clear through US banks, the US government can stop certain transactions.
US govt already is using sanctions against any country that doesn't dance to its tunes. That's exactly why many countries are preferring BRICS. US can stop certain transactions and that's exactly why alternatives are being explored.
YESSS GO BRICS DEFEAT USAAA
It’s none of your business what they purchase.
@@jazzipbot
@@jazzip The world leadership feels differently about that. Nuclear detonator sold to rogue actors affect all of us.
We want brices❤❤❤❤❤❤
Very good explanation and pronunciation
It's time for the BRICS - New World Order to establish a default reserve currency or consider returning to the gold standard. Dealing with daily fluctuations in exchange rates for each country's currency would lead to excessive chaos.
Investors should be cautious with their investments, especially in times of inflation. Achieving substantial returns during economic challenges often requires the guidance of a professional or a trusted advisor.
Which country will brics currencies be used?
BUT SIR MY INDIA IS THE REAL SUPERPOWER 🤗🇮🇳 WE HAVE THE BEST INFRASTRUCTURE AND HIGHSPEED RAIL 🤗🇮🇳 MEANWHILE IN CHINA PEOPLE STILL RIDE RICKSHAW EVERYWHERE AND THEY ALSO POOR DONT HAVE CAR . THIS WHY IM SO LUCKY LIVE IN SUPER INDIA THE CLEANEST COUNTRY IN THE WORLD 🇮🇳🤗 , WE NEVER SCAM! WE GIVE RESPECT TO ALL WOMEN THEY CAN WALK SAFELY ALONE AT NIGHT AND WE HAVE CLEAN FOOD AND TOILET EVERYWHERE 🇮🇳🤗🚽, I KNOW MANY POOR PEOPLE JEALOUS WITH SUPER RICH INDIA 🤗🇮🇳🤗🇮🇳🤗🇮🇳🤗🇮🇳🤗🇮🇳🤗🇮🇳🤗🇮🇳🤗🇮🇳
Rent free😂
We can add all of South America in the mix since Venezuela it’s gonna be part of it soon and probably Salvador and Nicaragua and Guatemala would join since they are planning to unite once again as a single country Argentina,Brazil,Colombia are part of it sooner rather than later Chile and Cuba would probably join too idk if Mexico would Join but I doubt it
China lowered its interest rate to 3.5%
So what?
I don't understand how the BRICS can have a meeting and discuss the Climate Hustle, aren't they afraid of the weather?
Every country is afraid of climate change except the US! Are you trying to insinuate the rest of World was asleep? US President withdrawn from the Kyoto and Paris accord. Oh how mighty we are, we can do anything we want! Can we?
USA and Europe forests disagrees
The bricks expansion will be good for the future.
BRICS ❤
I can't accept her as an expert if she thinks India will ever agree to Renmibi as an alternative.
India will be kicked out of BRICS. It is a question of time.
Never trust the snakes.
Miss I thank you for your time, I just want to address one question; if people buy one BRICS paper cash with the exchange rate of 26(?) Gold coins, 2hst is exchange rates of the CBDC currency? Of course you all know retired people don't carry that kind of gold coins? This is more than gouging miss. I guess since we are useless people we can expect to be 86 faster than lightning right? It looks like we will see our creator our Lord Jesus Christ soon!!!
You reap what you sow.
We tried to push the wrestling around one too many times the dollar is going to go down in value our living standards going to go down in value thank you President Biden
Hummm
👏👏👏👏
What would be the currency of the brics??
Gold
We already have gold, so there's no need to use a currency controlled by Russia/ China. The reason that people use American currency is because up until now its been reliable. China and Russia are anything but! This is a protest, not a real economic movement.
@@NotLikeUs17 Lol Gold you do know who has the most Gold lol
Is G7 probably
the ccp chinese yuan, what else? 🤣🤣🤣🤣🤣🤣🤣🤣
Does this mean all the country in brics will use the same money in Their country ?
No the poor BRICS country is hoping for free oil from Russia, and free money from China. Especially when major "Black Swan" events happen. Like major earth quake in Turkey, or the flooding like you see in China. A two hurricanes just hit America. Many poor BRICS nation cannot afford the recovery and it would need recovery help.
No what the poorer BRICS want is the Russia, India, and China to merge their economies and create a super economy to challenge America. The get free oil from Russia, free food from India, and free money from China. That is the "Utopia" that they want, but realistically they that not going to happen.
yeah, i think it will be the ccp chinese yuan. 🤣🤣🤣🤣🤣🤣🤣🤣🤣
Isn't just Another Name for The WEF?.
Its fantastic to see a new and just multipolar world.
yeah why should one country hold all the power
They want singular control and have total power when we are told it's a team global effort NOT !!!!
I love to see
It's a lost case from the beginning. When there are two greatest nemesis in India and China. This two nations won't agree on any common term and not in the next foreseeable future. One thing is sure the two will be against each other not only in financial aspects but also in Military matters. A conflict between the two is almost inevitable. Thus, for me this group is never meant to succeed.
Western wishful thinking
But india and China are more matured and can see who benefits
One thing for sure , western people will pay in blood for all crimes of their govts
Be prepared
Lol......
Today china published its map claiming entire south china sea and India is angry about it. They can form a BRICS but it is not a brick at all: Indian officials reacted angrily to the map portraying an area along the border which it claims as Chinese. Subrahmanyam Jaishankar, India's foreign minister, told a TV audience on Tuesday night: "Just making absurd claims don't make other people's territory yours."
This is the excuse everyone against BRICS makes, but their conflict is not as you say, stop trying to feel better about BRICS lol
@@didequen3339nothing different between USA and Europe lol
In the summer of 1998, as a financial earthquake devastated Asia's economy, the Hong Kong Special Administrative Region (HKSAR) government won a hard-fought battle to defend the Hong Kong dollar and Hang Seng Index (HSI) against speculative attacks led by American billionaire investor George Soros. George Soros walk away with massive losses.
Backed by Beijing, the Hong Kong Monetary Authority (HKMA) made the controversial decision on August 14 to enter the market, buying up 118 billion HK dollars' (15 billion U.S. dollars) worth of stocks and futures in two breathtaking weeks of trading, and eventually driving out international speculators.
China, have to defend and counter those elites like George Soros (finance speculators) and Rupert Murdoch (Mainstream media giant) these are evil people who are out to destroy peace, destabilize countries economy by using corporate control business and using false democracy narrative, like freedom of speech and human rights and to regime change. These people are the worse violators of all those atrocities of this century.
Bricks as philosophy makes sense and gives freedom sense and freedom of choice.
How it will function in practice , will be another issue.
EURO is the same concept, but worked very well, since Europe is well cooperative , but not China.
China will try to dominate. Russia will dominate too and the emerging India will follow too.
How this will end up, is difficult at this point, but we all can see that many countries want to be its member. It is simply that many countries are sick and tired of west dominance.
BRICS from FORBES breading news..............alternative market place......a profound POWER SHIFT.............
It should be called China gets even with the West cgeww
Good. Does this mean they'll all be sending us back our American money?!
yeah, for sure! the dictatorships and shambolic economies of the BRICS countries will be happy to get rid of all their imperialist american dollars! 🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣
yes.
( I see no good! Bric s !)
Pro West therefore
Wait till OPEC make decisions in the interest of Brics
We suggest that usa must be brave enough dont be coward anymore??... dsre to bravely assure and guarantee its overprinted dollars trustworthy like we all can very easily exchange for 1ozs of pure solid gold for how much usa dollars??...
If usa try to be silly smart?. And dont want to be responsible for usa own dollars debts??... then all nations will eventually start to ditch unguarantee usa overprinted dollars??...
Who want to support the unguarantee dollars???...
That would make world reserve currency a two-party system...?😊 isn't that the notion that cost Momar Kadafi his country's gold and his life? It is not the American Spirit to root for the underdog?
6:40 she said Global order!! End times the Bible speaks of
Dear fellow of whateverberg madam, it's not Putin's war against Ukraine, it's Russian's state preventive operation in Ukraine. This game is over, you better catch up fast
So if they add more countries, does that mean the acronym changes?
Why should it be either BRICS or the West should dominate? Both can prosper if willing to work together, mutually respecting each other uniqueness. Just don't try to convert others to your political philosophy as if it is morally superior.
No way, man. This is politics, if you want to win, you must kill the others!
I'd say it's simply because we live under a capitalist society. Offer and demand
If BRICS actually becomes a financial superpower, the US dollars value will plumit and that will directly affect both the USs and the EUs way of life
Things will be more expensive, that will make debt worse, ppl might lose jobs and that can go on and on. Power will shift and the money will follow
That's capitalism
That’s not how west thinks
Will the USA gov't think what you are thinking. Naaah... USA will be jealous always.
USA is like a selfish school kid, if it can't have hegemony anymore, noone can. That's how USA works, a total dictator of the world.
This is a very informative video. Thank you. When I saw the title "...China expert...', Gordon Chang sprang to my mind. "Not him again !" I thought.
The core issues of BRICS is already covered by Ms. Zongyuan Zoe Lui, so I might be racking over old coal. But I shall have a go anyway...
The key importance of BRICS are...
(1). It is NOT like the G7 which is driven and dictated by the US,
(2). It is made up of countries that are less developed.
(3). It is made up of countries with rather different political systems.
(4). Countries are wanting to join the BRICS, and not like the G7/NATO when fear is being used to persuade others to join.
(5). Despite the fact that China is the major player, it is not like the US which dominates the G7.
(6). Oil. Yes, it does make it powerful when the Middle Eastern oil producers as well as some in Latin America, are within the group.
(7). China's influence in terms of commerce would be strengthened. The BRI would get an extra boost.
(8). To me, this is the MOST valuable one...peace in the Middle East. With Iran and Saudi Arabia now sitting at the same table discussing the best way to improve the living standards of people, as opposed to lopping missiles and bombs at each other, would be my top pick.
(9). Because of point #8, it would have significant geopolitical influence. It would be a plus for the world because of peace, but a major negative for the US because not only it is not going to be able flog off weapons by using fears and distrust between Saudi Arabia and Iran, it loses its influence over them as well. This could mean the US no longer has a strangle hold over the Middle East.
Buy gold
Its not important. Stay American
Go back to gold
The BRICS alliance is doomed due to insurmountable cultural and ideological disparities among member countries. Varying histories, governance models, and societal values, combined with conflicting economic systems and development levels, hinder unified stances on global issues. The absence of shared foundations prevents cohesive strategies, impeding cooperation. This renders the alliance unsustainable, as divergent pursuits clash irreparably, ensuring its inevitable failure.
While diversity can indeed offer varied perspectives, these disparities can lead to prolonged negotiations and impede timely decision-making, hampering the alliance's effectiveness. The examples of limited consensus on global issues and inconsistent cooperation highlight the underlying tensions. Moreover, cultural divergence can give rise to miscommunication and mistrust, hindering productive collaboration. The notion that BRICS will thrive solely through harnessing diversity underestimates the complexities and historical animosities that can undermine cohesion. In reality, the alliance's potential for failure remains a realistic outcome due to the considerable obstacles presented by the cultural and ideological variations among its members.
Hmmm...and under the US Dollar, all countries discarded their disparities because "diversity is their strength "?
Everything you just said is irrelevant to economics. Biden weaponized the dollar against Russia and now every Country is looking at us like "uh...."
Sure for those that’s fixated on ideology, whereas in the real world interests reign supreme.
After reading that whole essay😊 the only thing I learnt is that Inside your head it's empty...
Is Brazil a developed country tho??? How long till the others drop them and stop giving them benefits and then Brazil goes looking for NATO
I support brics but can't support autocratic expansionist ccp
Who cares who you support or not, it's insignificant.
So America is just abandoned
No BRICS did not create the Anti-America, or Anti-NATO league. That was not their intention.
OK, for sure. 🤣🤣🤣🤣🤣🤣🤣🤣
💩🧱
BRICS is the market where China export their high tech machines, electric vehicles, fuel vehicles, electronic devices and agri products ect...China will always dominate in exporting to member countries because they have a strong logistics system and with the ability to provide diversified goods and raw materials.
Chinese people will also immigrate to these countries to create a wealthy and prosperous Chinese community in these countries like they are doing in Southeast Asian countries including Indonesia, Malaysia, Thailand , Cambodia and my country Vietnam ect....
Chinese political theory: "where there is a Chinese presence, that place is China's border."
It will be difficult for those countries like Brazil or India to balance the "imports export index" when China always has too many products to export while the opposite side can only export low-value products or raw materials.
Then BRICS will be a failure. Many countries want Russia, China, and India to unite and merge their economies to create an opposite pole. They want free oil from Russia, free food from India, and free money from China. To opposite the American lead order of world.
yeah, BRICS might as well just have the ccp chinese yuan as its official currency. of course, the yuan does not trade freely on global currency markets, so we don't know its true value. also, BRICS is just a collection of dictatorships and shambolic economies, which should give investors a lot of confidence. oh, and don't forget that its two biggest members, ccp china and india, could go to war over their territorial disputes at anytime. that official 2023 ccp chinese territory map is certainly making a lot of people mad these days. 🤣🤣🤣🤣🤣🤣🤣🤣🤣
You know, instead of replacing the U.S. Dollar, why don’t China create a new currency that competes with the U.S. Dollar that is equal to or worth more than the Dollar like the Euro? Just a thought
Cause China doesnt wants to be the "owner" of the world like USA does
Be patient, grasshopper.
It is only a question of time after China sells off the US treasuries.
Anyone who wants a reality check on BRICS should look at the value of BRICS currencies back around 2000 when BRICS was invented and then look at those values now. Had you invested in a basket of BRICS back then, you'd have lost a ton of money. This is again more hype than reality.
And now the new strain of covid right when school goes back in session
what about their gdp?
Yes, one currency, one world government. BRICS.
@@Madame702 Lol, good luck with all that. It reminds me of when Khrushchev said "We will bury you". Of course the only thing that got buried was the USSR.
@@dancahill9585 Let explain what the "Global South" wants. They want "Welfare". They want free oil from Russia, they want free food from India, and they want free money and Iphones from China to be on their side.
BRICS+
I am Jesus
"what the acronym stand for...Brazil, Russia........India..China..South Africa...corrrect?. Right". Men... they really live in their own bubble.
Deliberately.... Think about it, it worries them greatly to an extent where they decide to not report about BRICS or report about it loosely. They are so narrow minded that they think that if reporting about BRICS will translate into them giving credence to the existence of this block
Before Brics expands further than here....they need to introduce a new financial system which will then fast track adoption of a currency
Where do you live in yours???
Bots lol
Stop the lie 😢
I support the BRICS currency.
This is such bull crap!
This is all a major bunch of BS.
Now the us has a reason to issue them orders that hover over all them leaders but hey its almost daddy Bush bday in two days so lets pick this up on tuesday 😂
To speak about BRICS you invite an anti Chinese Intellectual !?😂🤦🏼