There’s an economic and geopolitical tension going on in the world. It was on Saturday the Prime Minister of India, Narendra Modi said that he is looking forward to visiting the Brics Summit and take an insight to the global issues that are on the go. It will mainly focus on bringing peace and security to the world that’s facing many overwhelming challenges currently.
The four main things that will be an eye-opener in this Summit are: –
- One Belt One Road: The crucial international project that China has come up with, known as the “one belt one road”, reflects its agenda on having peak economic meetings as this one.
The project targets in expanding the trade links between Africa, Asia, Europe, and other through investments in infrastructures.
The Chinese President Xi also said that he is convinced that this initiative in the belt and road project will serve a new platform to every country for a win-win situation.
But this initiative has put India in an uneasy situation as it has a project worth $62bn that is to be implemented in its rival Pakistan and neighbors. Also after border standoff, it has created tension between China and India.
- The Nuclear Test Deal: The conference had an uninvited surprise in the form of sixth nuclear test of North Korea on Sunday.
The Xinhua-Chinese official news agency reported that Russian president Vladimir Putin and Xi Jinping, China’s president met on the summit’s sideline and agreed to North Korea’s nuclear test deal.
On Twitter, US President twitted that it would stop any trade with a country that’s shaking hand with North Korea.
- Growing Pie without Touching Cheese: While US president started renegotiating terms with North America for “Free Trade Agreement”, China is coming up with a different tone.
The Chinese president said that the developing countries and progress of emerging markets won’t be touching anyone’s cheese but will grow the world economies pie diligently.
- The NDB: In Shanghai headquarters over a weekend now construction started for the NDB or the “New Development Bank”, which is an alternative to World Bank of Brics.
The band aims in building giant infrastructure to fund the gap in the member countries that an account for world’s half the population.