AIR Discussions (AUGUST 4th Week)
24th August, 2023
SPOTLIGHT| BRICS Summit 2023 – Significance and Expectations
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Context
- Prime Minister Modi reached South Africa today to attend the 15th BRICS Summit. On his arrival, Mr Modi was given a ceremonial welcome at the airport.
Key Details
- BRICS is essentially a movement of “emerging economies”, and thus gives a salience to economic issues, but given the geopolitical flux especially after the war in Ukraine, this BRICS summit takes on a new importance.
- It is, therefore, no surprise that many Western capitals are watching the summit closely.
- French President Emmanuel Macron even suggested he would attend, “if invited”.
- The theme of the BRICS Summit is BRICS and Africa: Partnership for Mutually Accelerated Growth, Sustainable Development and Inclusive Multilateralism.
- The BRICS grouping comprises Brazil, Russia, India, China, and South Africa. BRICS represent over 42 percent of the global population, 23 percent of world GDP, and 18 percent of global trade.
Why is the 15th BRICS summit important?
- This BRICS meeting comes at an important geopolitical and geoeconomic moment — this is the first in-person summit since 2019 and the COVID-19 pandemic.
- Even in 2022, when COVID-19 had receded, the remnants of the pandemic remained in China, and the summit was hosted via videoconference.
- This is also the first in-person meeting since the Russian invasion of Ukraine in 2022, an event that has cast a long shadow not only on global stability, but food, fertilizer, and fuel (energy) security.
- Given its composition, BRICS deliberations are perceived to carry a "counter-western" slant and will be of importance as the U.S. and EU still hope to try and "isolate" Russia over the conflict.
- This is also the first summit since Luiz Inácio Lula da Silva Lula returned to power in Brazil, who represents more socialist, anti-western politics than his predecessor President Bolsonaro.
About BRICS
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Significance and Expectations
BRICS expansion
- All eyes are now on whether the grouping will expand to add 40 more countries, including Argentina, Iran, and Saudi Arabia.
- Many argue that the expansion of the grouping will help in counter-balancing the US-led Group of Seven's influence on the global economy.
- This will not only help the BRICS remain relevant in the global order but also provide an alternate source of financing for the developing world.
- Any expansion in BRICS' membership will also be seen as China's attempt to emerge as the leader of the developing world, much to the chagrin of rival India.
China's De-dollarisation move
- The BRICS plan to expand its membership is closely linked to China's move to de-dollarise global trade.
- Through de-dollarisation, China seeks to eventually replace the US dollar with other denominations.
- But with China locked in a fierce economic 'cold war' with the US, there are already indications that Beijing intends to push the yuan as an alternative to the US dollar.
- Two member countries, Brazil and Russia, are already paying for Chinese goods in yuan. However, the US dollar continues to remain the global reserve currency, accounting for about 80 percent of global trade.
BRICS common currency?
- However, China's ambitions for the yuan are likely to hit a roadblock. India, China's regional rival which harbours ambitions of making the rupee a dominant global player, will not like the yuan becoming a major reserve currency.
- Given the complicated political relations between the two neighbours, it is not very difficult to understand India's concerns.
- Nevertheless, the grouping has been stressing on the need to reduce the dependence on the US dollar.
- But reports suggest that a framework for a common 'BRICS currency', first mooted by Russia and Brazil, is unlikely to be discussed at the upcoming summit.
Greater trade with Africa
- A substantial part of the discussions is likely to revolve around deepening trade ties with African countries.
- The grouping is all set to explore greater opportunities in the continent, which is considered a largely untapped market, through the African Continental Free Trade Area.
- The BRICS, China in particular, is already Africa's biggest trading partner, with trade expected to reach more than $500 billion by 2030.
BRICS economic potential
- Constituting over 40 percent of the world population, the BRICS is a huge unexplored market. The five-member countries together account for over one-fourth of the global Gross Domestic Product.
- As per a UN report, foreign investments in the five-member BRICS quadrupled between 2001 and 2021, helping ignite economic growth.
- The BRICS economies represent 18 percent of global exports, with a huge potential for more exports between the member countries.
- Moreover, an expansion of the BRICS is likely to not only boost global trade but also the grouping's economic relevance.
- One estimate suggests that an expanded BRICS can contribute over 50 percent of global GDP by 2030.
Closing thoughts
- BRICS forum should be effectively utilized for consultation, coordination, and cooperation on contemporary global issues of mutual interest and promoting mutual understanding.
https://newsonair.gov.in/Main-News-Details.aspx?id=466506
https://newsonair.gov.in/Spotlight.aspx
https://www.reuters.com/world/brics-expansion-hopefuls-seek-rebalance-world-order-2023-08-21/
https://www.thehindu.com/news/national/explained-why-is-the-brics-summit-important-for-india/article67214105.ece
Chandrayaan-3 to land on the moon's surface
Context
- The Indian Space Research Organisation is geared up to accomplish the most difficult task of soft landing the Vikram Lander module near the south pole of the Moon at 6.04 hours today evening as part of the Chandrayaan 3 mission.
Details
- It has to decelerate the lander which is moving at the speed of around 6000 km per hour.
- The lander equipment has to bear the assault of lunar dust and the lander has to change its position from horizontal to vertical angle. The scientists call this phase 15 minutes of Terror.
About Chandrayaan-3 Mission: An Introduction
- Chandrayaan-3 is a follow-on mission to Chandrayaan-2 to demonstrate end-to-end capability in safe landing and roving on the lunar surface. It consists of Lander and Rover configuration.
- It will be launched by LVM3 from SDSC SHAR, Sriharikota.
- The propulsion module will carry the lander and rover configuration till 100 km lunar orbit. The propulsion module has a Spectro-polarimetry of Habitable Planet Earth (SHAPE) payload to study the spectral and Polari metric measurements of Earth from the lunar orbit.
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About Chandrayaan-3
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National Education Policy 2020
Context
- President Droupadi Murmu attended the 34th convocation of Goa University this morning. She expressed happiness that 55 of degree holders and 60 percent of Gold Medallists are female.
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Details:
- She added that Goa University is implementing an interdisciplinary program under National Education Policy 2020 which is commendable.
- She said that National Education Policy 2 is bringing qualitative changes in education through coordination between skill development, industry connect, and employability.
- Governor P S S. Pillai, Chief Minister Dr. Pramod Sawant, and other dignitaries were present at the event.
- The President is on a 3-day visit to Goa., She will also address the Goa Legislative Assembly at Porvorim later in the evening.
About NEP 2020:
- About: The National Education Policy (NEP) 2020 was released in July 2020. NEP 2020 will replace the National Policy on Education, 1986.
- Aim: It aims at ensuring Universal Access at All Levels of schooling from pre-primary school to Grade 12. It Ensures quality early childhood care and education for all children between 3-6 years.
- It introduced a New Curricular and Pedagogical Structure (5+3+3+4).
- 5 years of foundational stage (for ages 3 to 8).
- 3 years of preparatory stage (for ages 8 to 11 or classes 3 to 5).
- 3 years of middle stage (for ages 11 to 14 or classes 6 to 8).
- 4 years of secondary stage (for ages 14 to 18 or classes 9 to 12).
- No strict separations between arts and sciences, between curricular and extracurricular activities, and between vocational and academic streams.
- Purpose: To establish a National Mission on Foundational Literacy and Numeracy. Promoting multilingualism and Indian languages.
Northern Greece wildfires
Context
- Eighteen bodies were found in a remote village in northern Greece today where wildfires have been raging for days.
Details
- The broader Evros region is a popular route for migrants crossing from Turkey into Greece.
- The Country is reeling under severe conditions and several parts are on high alert as extreme temperatures and high winds threaten to trigger more devastating wildfires.
- Currently enduring the longest heatwave in history, Greece is battling with temperatures predicted to reach a staggering 50-year high.
- Extreme fire risk warnings have been issued for several regions in southern Greece, including around Athens.
- Earlier commenting on the causes of the fires, Vassilis Kikilias, the Greek minister of the climate crisis and civil protection had told the media that the majority of the fires were ignited by human hand, either by criminal negligence or intent.
- Greece has been among the worst-affected Mediterranean countries by climate change, which has caused severe drought and massive wildfires in recent months.
About the wildfires
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Culture Working Group (CWG)
Context
- The 4th G20 Culture Working Group (CWG) Meeting will begin today in Varanasi. It will culminate in the Culture Ministers' Meeting (CMM) on the 26th of this month.
Details:
- Delegates from G20 member nations, invitee countries, and various international organizations will attend it.
- Building upon the success of the previous three CWG meetings in Khajuraho, Bhubaneswar, and Hampi, as well as the four Global Thematic Webinars, the 4th CWG meeting in Varanasi aims to arrive at actionable outcomes while positioning culture at the heart of policy-making.
About Culture Working Group:
- The CWG, under India’s G20 presidency, had launched the ‘Culture Unites All’ campaign to highlight India’s unwavering belief in multilateralism based on peaceful coexistence among diverse cultures and communities.
- The insights and recommendations from the expert-driven Global Thematic Webinars on the priority areas of the CWG have been collated in a comprehensive report titled "G20 Culture: Shaping the Global Narrative for Inclusive Growth”.
- The CWG is releasing a special stamp to commemorate the campaign on 26 August 2023.
- The ‘Culture Unites All’ postage stamp has been crafted as a distinctive emblem combining the ideas of connectivity, communication, and journey representing a cultural exchange and establishing cultural context.
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