• Investing
  • Stock
  • Economy
  • Editor’s Pick
Portfolio Performance Today
Economy

Xi Jinping’s surprise no-show at BRICS Summit fuels speculation about China’s global standing

by July 6, 2025
by July 6, 2025

Chinese President Xi Jinping will not attend this week’s BRICS Summit in Brazil, marking the first time the Chinese leader has missed the gathering of major emerging economies. The abrupt decision has triggered widespread speculation about internal political dynamics within China and the fraying cohesion of BRICS itself.

China’s official explanation — a ‘scheduling conflict’ and the fact that Xi already met with Brazilian President Luiz Inácio Lula da Silva earlier this year, according to the South China Morning Post — has been met with skepticism. Premier Li Qiang will attend the summit in Xi’s place, continuing a recent trend of Xi scaling back his appearances on the global stage.

‘That doesn’t make sense,’ said Gordon Chang, an expert on U.S.-China relations. ‘There are many other countries at the BRICS summit, not just Brazil. To me, it’s extremely significant that Xi Jinping is not going. It suggests turbulence at home — there are signs he’s lost control of the military and that civilian rivals are reasserting power. This is a symptom of that.’

Bryan Burack of the Heritage Foundation agrees that Xi’s absence underscores deeper issues: ‘It’s another indication that BRICS is not going to be China’s vassalization of the Global South.’ He noted that countries like Brazil and Indonesia have recently imposed tariffs on China over industrial overcapacity and dumping, moves that suggest widening rifts within the group.

‘China is actively harming all those countries for the most part, maybe with some exceptions, through its malign trade policies and dumping and overcapacity.’

Tensions with India and global trade pressure may also be factors

Some analysts point to rising China-India friction as a contributing factor in Xi’s decision to skip the summit. 

‘China has been at war with India for decades, essentially,’ Burack said. ‘These are fundamentally opposing interests. It’s difficult to see China changing its behavior in the near term, and that will keep tensions high.’

India’s Prime Minister Narendra Modi is expected to take a leading role at the gathering, potentially another deterrent for Xi’s attendance.

Another key leader — Russian President Vladimir Putin — is only expected to address the group by video. 

BRICS: United in name, divided in decades-long tensions 

Formed by Brazil, Russia, India and China and later joined by South Africa, BRICS was envisioned as a non-Western counterweight to G7 dominance. It has expanded to include Egypt, Ethiopia, Iran, the UAE and, most recently, Indonesia, strengthening its economic footprint.

Economist Christian Briggs highlighted BRICS’s massive scale: ‘BRICS now comprises 12 full members and up to 23 when counting partners. Collectively, they account for over 60% of the world’s GDP and around 75% of the global population. They control vast natural resources and a growing share of global trade flows.’

Yet despite its scale, the bloc remains ideologically and strategically fragmented. ‘It’s a group of countries that hate each other,’ Burack said bluntly. ‘China is harming many of them through unfair trade practices. There’s not a lot of incentive for real unity.’

Currency ambitions and strategic divergences

The alliance’s aspirations to challenge the U.S. dollar through alternative payment systems and a potential BRICS currency have gained media traction — but experts caution against overestimating this threat.

‘There’s been a lot of fearmongering about a BRICS currency,’ said Burack. ‘But the interests of these countries are completely divergent. There’s more smoke than fire when it comes to a currency challenge to the dollar.’

Chang echoed this skepticism: ‘The only country that can challenge the dollar is the United States. Weakness in the dollar is due to what we are doing domestically, not what the BRICS are doing.’

Still, Briggs offered a counterpoint, arguing that BRICS members are already reshaping global currency flows.

‘They’re moving away from the dollar into digital yuan, rupees, rubles. China has launched a SWIFT alternative already adopted by the Caribbean banking sector — trillions of dollars are shifting.’

Is BRICS still a threat to U.S. influence?

While its cohesion remains questionable, BRICS poses a long-term challenge to U.S. influence — particularly in regions where Washington has retreated diplomatically and economically.

‘China filled the void left by the U.S. in places like Africa,’ said Briggs. ‘Now it controls about 38% of the world’s minerals. Meanwhile, Russia’s economy has doubled despite sanctions, because they preemptively reduced reliance on the dollar.’

Yet Chang sees India as a brake on any aggressive anti-Western tilt. ‘BRICS has an ‘I’ in it—and that’s India. Modi doesn’t want to be part of an anti-Western bloc. As long as India’s in BRICS, the rest of the world is safe.’

A missed opportunity — or a calculated power move?

To some, Xi’s no-show signals instability in Beijing. To others, the opposite: it demonstrates confidence in China’s dominance over the other BRICS members.

‘He doesn’t have to be there,’ Briggs contended. ‘Xi’s power allows him to delegate. China is trading with nearly 80% of the world now. He’s moving the agenda forward even in absentia.’

What’s clear is that BRICS continues to evolve — its internal contradictions as visible as its geopolitical ambitions. Whether Xi’s absence marks a retreat or a recalibration remains one of the key questions hovering over the summit in Brazil.

This post appeared first on FOX NEWS

0 comment
0
FacebookTwitterPinterestEmail

previous post
Democrats project doom and gloom, not celebration, with July 4 messages
next post
AUD/USD and ASX 200 on edge ahead of the RBA rate decision

Related Posts

‘Violent Saviors’: William Easterly’s Book on Imperialism and...

March 2, 2026

The Elevator Problem: How Rent-Seeking and Regulation Make...

March 2, 2026

Violent Saviors: A Review of William Easterly’s Book...

March 2, 2026

Pope warns escalating Iran conflict could tip Middle...

March 2, 2026

Enemy within: Counterterrorism experts fear sleeper cells could...

March 2, 2026

Protesters storm US Consulate in Pakistan, at least...

March 2, 2026

Iran networks suffer losses amid airstrikes, showing digital...

March 2, 2026

Trump says Iran wants to talk but who...

March 2, 2026

Trump pledges to ‘avenge’ fallen US service members...

March 2, 2026

Hormuz erupts: Attacks, GPS jamming, Houthi threats rock...

March 2, 2026

Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.

By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

Recent Posts

  • IoT Total Cost of Ownership (TCO) Models: From CapEx to OpEx in 2026

    March 2, 2026
  • ‘Violent Saviors’: William Easterly’s Book on Imperialism and Conquest

    March 2, 2026
  • Quectel Adds New 5G RedCap Release 17 Modules

    March 2, 2026
  • Quectel Shows mmWave Radar for Safer Vehicles at MWC

    March 2, 2026
  • emnify Launches Programmable SGP.32 eSIM Connectivity

    March 2, 2026
  • The Elevator Problem: How Rent-Seeking and Regulation Make Modern Life Unaffordable

    March 2, 2026

Editors’ Picks

  • 1

    Pop Mart reports 188% profit surge, plans aggressive global expansion

    March 26, 2025
  • 2

    New FBI leader Kash Patel tapped to run ATF as acting director

    February 23, 2025
  • 3

    Meta executives eligible for 200% salary bonus under new pay structure

    February 21, 2025
  • 4

    Anthropic’s newly released Claude 3.7 Sonnet can ‘think’ as long as the user wants before giving an answer

    February 25, 2025
  • 5

    Walmart earnings preview: What to expect before Thursday’s opening bell

    February 20, 2025
  • ‘The Value of Others’ Isn’t Especially Valuable

    April 17, 2025
  • 7

    Cramer reveals a sub-sector of technology that can withstand Trump tariffs

    March 1, 2025

Categories

  • Economy (4,317)
  • Editor's Pick (506)
  • Investing (574)
  • Stock (2,747)
  • About us
  • Contact us
  • Privacy Policy
  • Terms & Conditions

Copyright © 2025 Portfolioperformancetoday.com All Rights Reserved.

Portfolio Performance Today
  • Investing
  • Stock
  • Economy
  • Editor’s Pick
Portfolio Performance Today
  • Investing
  • Stock
  • Economy
  • Editor’s Pick
Copyright © 2025 Portfolioperformancetoday.com All Rights Reserved.

Read alsox

Bees Expose Flaw in Socialism, Whether Autocratic...

October 23, 2025

Trump’s fresh White House portrait sparks interest...

June 3, 2025

María Oropeza’s Brutal Capture Shows Gen Z...

August 14, 2025