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The developing world’s G-7 would like a word
Brics members don’t want to be dominated by its most powerful member China even if US tariff policy is unpopular
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Most in the developing world, including Brics members, might welcome tariffs on China because of its stranglehold on global manufacturing.
PHOTO: AFP
Mihir Sharma
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It likes to think of itself as the developing world’s equivalent of the Group of Seven. Yet unlike the G-7, the Brics bloc – designed for Brazil, Russia, India, China and South Africa but now expanded to 11 members – has sharply diverging interests.
It includes energy exporters like Saudi Arabia and the United Arab Emirates, as well as importers like India; material-hungry manufacturing giants like China and commodity superpowers like Brazil; moderate democracies like Indonesia and extremist theocracies like Iran.
