Seeds of Wisdom RV and Economic Updates Monday Afternoon 1-6-25
Good Afternoon Dinar Recaps,
BRICS BRAZIL: BRAZIL TAKES OVER THE BRICS PRESIDENCY IN 2025
Country takes the helm of the Global South political and economic cooperation forum,
Starting January 1, 2025, Brazil officially takes the helm of BRICS, the prominent forum for political and economic cooperation among nations of the Global South.
The presidency marks a pivotal moment for the country as it seeks to advance a vision of more sustainable and inclusive global governance, foster deeper economic ties, and mobilize financing to combat climate change.
BRICS, an acronym representing Brazil, Russia, India, China, and South Africa, has recently expanded its membership to include Saudi Arabia, Egypt, the United Arab Emirates, Ethiopia, and Iran. This enlargement solidifies the group as a central platform for collaboration among developing nations,
Brazil has outlined an ambitious agenda under the theme “Strengthening Global South Cooperation for More Inclusive and Sustainable Governance.” Its presidency will prioritize two main areas: advancing Global South cooperation and reforming global governance structures.
These themes translate into five key priorities:
1. Facilitating Trade and Investment: Promoting economic integration through the development of efficient payment systems.
2. Regulating Artificial Intelligence: Encouraging inclusive and responsible AI governance for development purposes.
3. Addressing Climate Change: Enhancing financing mechanisms to support global efforts, in coordination with the COP30 climate summit.
4. Public Health Collaboration: Strengthening cooperation projects among member countries, focusing on improving public health systems.
5. Institutional Development: Bolstering the internal frameworks of BRICS to ensure effective governance and decision-making.
“If you want to build a better world, a sustainable world, BRICS has to be part of this construction. And it’s important to have an understanding among these countries, because this understanding helps achieve broader agreements [with other nations],” stated Ambassador Eduardo Saboia, Brazil’s BRICS sherpa, in an interview with Agência Brasil.
GLOBAL SOUTH COLLABORATION - The forum’s objectives extend beyond its immediate membership, aiming to enhance economic, political, and social cooperation while increasing the influence of Global South nations in international governance.
Ambassador Saboia highlighted the importance of mutual understanding among BRICS members, noting that the group’s diversity is a strength. “These countries, with their distinct political systems and unique challenges, come together annually, fostering solutions that benefit their populations,” he emphasized.
EXTENSIVE AGENDA - As the host nation, Brazil will oversee the organization and coordination of more than 100 meetings, starting in February and continuing through July in the capital, Brasília.
These gatherings will bring together officials, policymakers, and experts to deliberate on the presidency’s priorities.
The discussions will culminate in the BRICS Summit, scheduled tentatively for July in Rio de Janeiro, where heads of state and government will chart the bloc’s future course. Brazil’s mandate will run until December 31, 2025.
ROTATIONAL LEADERSHIP - The BRICS presidency rotates among member states in the order of the acronym, but with the inclusion of new members, the bloc is expected to revisit its rotational formula. The changes reflect BRICS’ evolving dynamics as it continues to adapt to the shifting geopolitical landscape.
@ Newshounds News™
Source: Brazil Gov
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BRICS NEWS: INDONESIA OFFICIALLY JOINS AS FULL MEMBER
In a move that showcases a further expansion of the economic alliance, the BRICS bloc has welcomed Indonesia as a full member. Indeed, Brazil announced that the country would be joining the collective, according to a Reuters report.
Moreover, the move takes place as the South American nations commences its opportunity to take over the groups rotating presidency for 2025.
Brazil has stated that Indonesia has been accepted after its application bid was accepted during the group’s 2023 annual summit. The Asian nation has requested its acceptance be halted amid presidential elections last year, where Prabowo Subianto was officially elected. Now, Indonesia has become the 10th member of the growing economic group.
Indonesia Officially Joins BRICS as Full Member Ahead of Crucial 2025
Over the last two years, the BRICS economic alliance has emerged as a key global economic and geopolitical presence. The group was formed through the promising potential of Brazil, Russia, India, China, and South Africa more than two decades ago. Yet, it was not until recently that it embraced its status and sought to increase its position on the world’s stage.
Another key part of that pursuit has taken place today. Indeed, the BRICS bloc has reportedly welcomed Indonesia as a full member of the growing economic alliance. The country is set to join the group after being approved for entry in 2023. Moreover, it has long sought to be included in the growth prospects being derived by the global south.
“Indonesia shares with the other members of the group support for the reform of global governance institutions and contributes positively to the deepening cooperation of the global south,” 2025 BRICS President Brazil said in a statement.
The country is joining the bloc on the precipice of an immensely important year. US President-elect Donald Trump has not been shy of its issue with the group. Earlier this year, he warned of the imposition of 100% tariffs on nations seeking to ditch the US dollar.
He specifically targeted BRICS, noting the development of their own alternative currency. Whether or not those plans will continue remains to be seen. The bloc appears to be facing increased dissension from the United States’ shift this year.
@ Newshounds News™
Source: Watcher Guru
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RIPPLE ADVOCATE DEATON STRESSES IMPORTANCE OF REGULATORY CLARITY FOR RIPPLE IN US
The CryptoLaw founder and major Ripple advocate John Deaton has shared his reflections on the Ripple CEO’s recent statement about Ripple rapidly expanding in the U.S. since early November, offering a universal solution for Ripple and other crypto companies’ growth in the U.S.
American crypto business suffers from lack of regulatory clarity: Deaton
In his tweet, John Deaton quoted Ripple chief executive Brad Garlinghouse, who said that since a pro-crypto president-elect won in early November, over the last six weeks of 2024, Ripple has signed more deals in the U.S. than during the previous half-year.
Deaton underscored that it is “impossible to estimate damage” suffered by Ripple and other cryptocurrency businesses headquartered in the U.S. due to the lack of regulatory clarity for the crypto industry.
The Ripple advocate admitted that he has encountered many crypto businesses whose teams would say that they prefer to avoid the U.S. market and not to offer anything to U.S.-based investors.
Simple solution to many of these problems, per Deaton
The CryptoLaw founder reminded the community about the “gross government overreach and selective enforcement” that Ripple had to struggle with in court for approximately four years, defending itself against the SEC and its chairman, Gary Gensler, who is to step down from his position at the end of January.
Ripple scored two big victories, in July 2023 and then in late 2024, as it proved that XRP was not a security (on the secondary markets) and reduced the $2 billion fine demanded by the SEC down to $125 million. Deaton stressed that, aside from the issue of regulatory clarity, the cryptocurrency space also suffers from excessive regulations that “continue to stifle innovation” within the country.
The only solution to many of the issues mentioned by Deaton is the elimination of bureaucracy — of the red tape that rules in the U.S. He offered the situation with the housing shortage crisis in the country as an example, and the necessity to wait for “two years to pull necessary permits.”
Ripple advocate Deaton hopes that the new president's administration will make that happen and solve the problem at least partly — and not only for the crypto industry, causing a “ripple effect. Hopefully, we will see a Ripple effect (pun intended) throughout industries, caused by the excitement of a new administration.”
@ Newshounds News™
Source: U Today
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