Hegemonism not in China's DNA, Xi says justifying speedy Brics expansion

Chinese President Xi Jinping has called for an expansion of the Brics grouping of emerging economies to build a more just and equitable international order, insisting "hegemonism is not in China's DNA," during an annual summit in Johannesburg, South Africa.

Xi has also called for unity among his Brics counterparts as he pushes the case for accelerating expansion of the grouping to face a global "period of turbulence and transformation".

While all Brics members have publicly expressed support for growing the bloc, divisions remain over how much and how quickly. Details of criteria for joining were likely to be included in a joint declaration due to be finalised yesterday.

While South Africa and Russia backed the addition of new members, Brazil was worried about alienating the West. India was wary of the group becoming a mouthpiece for China, as the world's second-largest economy tries to bolster the bloc to counter the Group of Seven nations and challenge the US-led world order.

South African president to announce new BRICS members on Thursday

"We, the Brics countries, should always bear in mind our founding purpose of strengthening ourselves through unity," Xi said in another meeting held yesterday.

Earlier, in a speech delivered on his behalf at the start of Brics summit in Johannesburg, South Africa on Tuesday, Xi said China had no wish to engage in great power competition or create "bloc confrontation".

"China stands firmly on the right side of history and believes a just cause should be pursued for the common good," Xi said at a business forum, according to remarks delivered by Commerce Minister Wang Wentao.

Xi said Brics would continue to grow "whatever resistance there may be."

"Right now, changes in the world, in our times, and in history are unfolding in ways like never before, bringing human society to a critical juncture," he said.

More than 40 countries have expressed interest in joining Brics, say South African officials, 22 of whom have formally asked to be admitted. The bloc currently represents about 40% of the world's population and more than 25% of the global economy.

Beyond the enlargement question, boosting the use of member states' local currencies in trade and financial transactions to lessen dependency of the US dollar is also on the summit agenda.

South African organisers had said there would be no discussions of a common Brics currency, an idea floated by Brazil as an alternative to dollar-dependence.

At least 15 potential new member countries – including Saudi Arabia, Algeria and Argentina – are under consideration to join the bloc's New Development Bank (NDB), its chief financial officer said on Wednesday.

The NDB, which has long tapped China's capital market for funding, is registering an Indian rupee bond programme worth $2.5 billion over five years, after it issued its first South African rand bond last week.

Differing expansion plans

China and Russia, both of which have been heavily sanctioned by the United States, have been keen to expand Brics to develop a counter to Western dominance over international institutions and affairs.

The grouping, however, is divided on expansion, with Brazil and India widely seen as more ambivalent about growing the bloc.

In a possible sign of differing visions for the bloc, Brazil's Lula said Brics did not seek to be a "counterpoint to the G7, G20 or the United States".

"We just want to organise ourselves," Lula said during a social media broadcast.

While he is pushing for neighbour Argentina to join, he said yesterday that any new members would need to meet certain conditions, so the group does not become a "Tower of Babel."

Indian Prime Minister Narendra Modi said yesterday his country, which is wary of Chinese dominance, fully supported expansion.

However, an Indian official familiar with discussions late on Tuesday between the leaders said Modi indicated "there have to be ground rules about how it should happen and who can join."