Market brief · Economy & rates

BRICS Summit Takes Aim at U.S. Influence Over the Global Economy

Like the Shanghai Cooperation Organization, BRICS, the global grouping of emerging markets and developing countries, is intent on diminishing Western influence over the world economy. And just like the SCO summit earlier in September, the latest conclave of BRICS leaders fell short of presenting a united front against the West, the United States in particular. Both the SCO and BRICS include China, India, Iran and Russia as permanent members. Among the four, India, the host nation for this edition of the BRICS annual summit, has acted as a brake…