A compelling case for pragmatism
When Chinese President Xi Jinping landed in Macau, the world’s gambling capital, the air was thick with anticipation. Macau,often dubbed the “Las Vegas of the East,” is much more than a beacon of wealth and opulence.
China’s President, Xi Jinping, surprised many when he chose not to address the Brics Summit in South Africa. Instead, he delegated the task to his Commerce Minister, Wang Wentao.
Xi Jinping had been in Johannesburg for the important multilateral business forum, where leaders from India, Brazil, South Africa, and Russia were also slated to speak alongside him.
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This unexpected change in plans has led to speculation about the reasons behind it, but it’s unlikely that the Chinese government will provide any official explanation.
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Despite missing his speech, Xi did attend the summit dinner. However, no clarification has come for his absence during the speech segment.
The decision seemed to be a last-minute one, as Chinese state media articles and social media posts from the country’s foreign ministry spokesperson suggested that Xi would be delivering the speech himself.
Wang’s speech, which contained thinly veiled criticisms aimed at an unnamed country, accused it of seeking to maintain hegemony and undermining emerging markets and developing nations.
When China hosted summits:
It’s worth noting that in the 2022 Brics Summit held in China, a significant development was the introduction of a new reserve currency. This currency, challenging the dominance of the US dollar, combines the currencies of the BRICS nations and is incorporates some precious metals.
In a similar vein, the ninth summit organized by China in 2017 also emphasized the bright future envisioned for BRICS and their collective goals. Discussions revolved around various international and regional issues as these nations aimed to move forward together.
What did India do?
On the other hand, Indian Prime Minister Narendra Modi spoke at the Leaders’ Dialogue of the BRICS Business Forum. During his address, he outlined India’s aspirations to achieve a 5 trillion dollar economy in the near future. This goal is part of India’s strategy to position itself as a key driver of global economic growth.
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