Xi Jinping missed the World Cup during his visit last week to Brazil, but attended a meeting of the BRICS countries, the grouping of Brazil, Russia, India and China, joined in 2013 by South Africa. Although named after a concept made up by a Goldman Sachs analyst, the Chinese government has enthusiatically embraced the concept as an alternative multilateral organization where developing countries can shape the agenda.
On July 15, the BRICS countries jointly announced the formation of a US$100bn development bank and an emergency reserve fund.
Xi Jinping also made a speech about Internet sovereignty, and continues his Latin American tour with stops in Cuba, Argentina and Venezuela.
Links and sources
Xinhua: 习近平在巴西国会的演讲, 习近平巴西谈互联网治理, BRICS tour minisite （image source）
People’s Daily: BRICS tour minisite
Netease: 习近平巴西演讲 提出建多边民主互联网治理体系
Want China Times: Beijing dominates voting rights of BRICS reserve pool
Yahoo: China’s Xi hails ‘new horizons’ in ties with Argentina
HRW.org: Dispatches: How the BRICS Can Run a Rights-Respecting Development Bank
Iol.co.za: Brics bank based in China
Reuters: China lends Argentina $7.5 billion for power, rail projects
Rediff: Did India gain anything from Modi-Xi meeting?