NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

At a time of increasing warmongering, geopolitical divisions and dangerous rhetoric, BRICS leaders bucked the trend this weekend by focussing on international cooperation, multilateralism and reforming financial systems. In the declaration signed in Rio de Janeiro by the leaders of the world’s eleven largest emerging economies, there were several notable positives: a strong recognition of the crucial role accessible and affordable finance plays in the just transition; the need for equitable critical minerals supply chains; the protection of workers’ rights including in the informal economy; and support for Palestine and for a two-state solution.

Photo courtesy of Agência Brasil – Oficial.