Focusing on Economic Cooperation in the Meeting between Putin and Xi Jinping
The leaders of the two largest economies in the world, Vladimir Putin and Xi Jinping, are promoting a new investment framework for BRICS to empower economies in the Global South and East. This project will be the main topic of discussion at the upcoming BRICS summit in Rio de Janeiro in early July.
According to Russian presidential aide Yuri Ushakov, this investment framework aims to promote sustainable growth, supporting countries within BRICS and the Global South.
Putin's Vision for BRICS Investment Framework
This framework is expected to:
Supporting the Russian economy
Providing financing for countries in the Global South and East
Strengthening BRICS' global standing through urbanization, capital investment, and labor productivity
Putin emphasizes the need for cooperation in areas such as:
Technology
Education
Finance and trade
Developing resources and logistics
"Our countries need to enhance cooperation in areas such as technology, education, trade, and finance," Putin stated. "We need to scale up capital investment."
Russia and China Strengthen Cooperative Relations
In addition to the BRICS initiative, the two countries reaffirmed their strategic relationship, particularly in the Middle East. The leaders exchanged updates over the phone and prepared for coordinated actions on the international stage.
In a shift away from the Western financial system, Russia and China have begun to settle some energy trades in Bitcoin, thereby reducing dependence on the USD.
The Future of Cryptocurrency in BRICS Transactions
Putin is also considering expanding Russia's national monetary framework by developing a digital platform for cross-border transactions and investments. This aligns with BRICS' goal of building financial alternatives to the Western system.
Amidst rising global tensions and changing alliances, BRICS' investment initiative could reshape economic power, boosting the strength of the Global South. The strategic cooperation between Putin and Xi Jinping signals a strong united front, challenging current global financial norms.
Source: https://tintucbitcoin.com/brics-de-xuat-nen-tang-tien-dien-tu-moi/
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