BRICS: 3 Moves From China That Could Shake Global Markets
At the latest virtual BRICS Summit, Chinese President Xi Jinping outlined a vision for the bloc that could have far-reaching consequences for global markets.
Speaking alongside leaders from Brazil, Russia, South Africa, and other invited states, Xi framed his remarks around solidarity, openness, and collective growth — a message aimed squarely at countering rising protectionism and reinforcing the role of the Global South.
Here are the three key moves Xi placed on the table:
Defending Multilateralism and Reforming Global Governance
Xi argued that the world is entering a phase of upheaval, where unilateral action and trade barriers are undermining stability. His call was clear: BRICS must defend multilateral institutions and push for greater representation of developing economies in global decision-making.
China’s Global Governance Initiative was presented as the vehicle for this shift, promising reforms that would expand the voice of the Global South in shaping international rules. For markets, this signals a continued effort to dilute U.S. dominance over financial and trade systems.
Backing Open Trade and Resisting Protectionism
With global supply chains already under strain, Xi pressed BRICS members to safeguard openness in trade and investment. He warned against the temptation of “self-imposed isolation” and positioned the World Trade Organization as a framework worth protecting.
Xi’s remarks suggest that Beijing and its partners will continue to champion cross-border flows, while also pushing back against tariffs and sanctions. For investors, this reflects a possible counterweight to U.S.-led trade policy, with BRICS members actively promoting alternative trade corridors.
Strengthening Intra-BRICS Cooperation for Growth
Beyond the global stage, Xi pointed to the bloc’s internal power. With BRICS representing nearly half the world’s population and about 30% of global GDP, closer coordination could significantly shift capital and resource flows.
He tied this to China’s Belt and Road Initiative and the Global Development Initiative, highlighting technology, infrastructure, and finance as areas where members can pool resources. For markets, deeper alignment within BRICS could translate into stronger South-South capital networks and reduced reliance on Western systems.
Market Implications
Xi’s speech was met with support from other BRICS leaders, who echoed his concerns about unilateralism and stressed the need for cooperation. Analysts note that while the proposals are framed in diplomatic terms, the economic implications are real: a shift toward more coordinated action within BRICS could reshape trade patterns, capital flows, and even investor sentiment toward emerging markets.
As the bloc continues to expand its role, global markets will be watching closely how these moves evolve from rhetoric into policy.
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Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
