Bloomberg: Expanding BRICS Helps Xi and Putin Challenge the West
For Putin and Li, the interest in BRICS shows their success at pushing back at attempts by the US and its allies to isolate them more broadly over Russia’s war in Ukraine and China’s military posturing in Asia.
The bloc is attractive to those seeking an alternative to US or Western-led institutions such as the International Monetary Fund, which pushed austerity measures blamed by some in the region for deepening the hardship caused by the Asian financial crisis in the late 1990s.
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