China’s Commerce Minister Wang Wentao delivered a speech at the BRICS summit on behalf of Chinese President Xi Jinping. Wentao began his speech with a veiled attack on the U.S., claiming that America is obsessed with maintaining its global hegemony. The minister also said that the U.S. is obstructing the growth of other developing countries by forcing them to use the dollar. Wentao stressed that every country has the right to chart its own path, and America must stop containing its growth.
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While the commerce minister did not specify the U.S. by name, the target and tone remained clear. “Everything we do is to deliver better lives to our people. But some country obsessed with maintaining its hegemony has gone out of its way to cripple the emerging markets and developing countries,” he said.
The Minister added, “Whoever is developing fast, becomes its target of containment. Whoever is catching up becomes its target of obstruction. But, this is futile. Every country has the right to development. The people in every country have the freedom to pursue a happy life,” he said in a veiled attack on the U.S.
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BRICS: China Vs the U.S.
China and Russia are ramping up their criticism of the U.S. at the ongoing BRICS summit. Russian President Vladimir Putin said that BRICS is building an effective payment mechanism to challenge the U.S. dollar. BRICS members will settle trade in local currencies, ushering in a new era in the financial world.
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However, India and Brazil remained cautious by not delivering veiled attacks or statements against the U.S. and other Western allies. India and Brazil have close ties with the West, with trade agreements worth billions of dollars on both sides. BRICS is an acronym for Brazil, Russia, India, China, and South Africa. The bloc is looking at expansion and could induct many more countries by the end of the year.