BRICS' economic growth outperforms global average

BRICS nations continue to outpace global economic growth, with their sustained momentum set to dominate discussions at the 17th BRICS Summit opening next week in Rio de Janeiro.

The 17th BRICS Summit will convene in Brazil on July 5-8, with expectations high for establishing an expanded alliance framework.

The founding members - Brazil, Russia, India, China, and South Africa - will work to strengthen BRICS cooperation alongside six newly admitted members: Egypt, Ethiopia, Iran, the United Arab Emirates, Indonesia, and Saudi Arabia. Nine partner countries will participate with observer status: Belarus, Bolivia, Cuba, Kazakhstan, Malaysia, Nigeria, Thailand, Uganda, and Uzbekistan.

Together, the BRICS nations have demonstrated sustained growth since the inaugural 2009 Summit. The mechanism now represents nearly 50 percent of the world's population and generates approximately 40 percent of global GDP.

The International Monetary Fund's April 2025 World Economic Outlook report projects that BRICS economies will expand by 3.4 percent in 2025, exceeding the anticipated global average of 2.8 percent. The report further indicates that the bloc achieved 4 percent GDP growth in 2024, compared to worldwide growth of 3.3 percent.

This coalition of 11 emerging economies plays a vital role in international trade, accounting for 24 percent of global commerce. Ahead of the Rio summit, BRICS-plus reached a historic milestone as intra-mechanism trade had surpassed 1 trillion dollars.

As Brazilian President Luiz Inacio Lula da Silva is preparing to host fellow BRICS leaders, the alliance faces significant challenges. The group's economic expansion and trade growth confront multiple tests, including the United States' trade policies under President Donald Trump and broader global economic uncertainties.

International observers await the outcomes from Rio de Janeiro, particularly regarding BRICS's collective response and demonstration of unity. The Brazilian presidency has identified two priority areas: strengthening cooperation among Global South nations and advancing BRICS partnerships for social, economic and environmental development.

BRICS' economic growth outperforms global average

South Korean President Lee Jae Myung said on Wednesday that Seoul firmly adheres to the one-China principle, in comments made ahead of his upcoming state visit to China.

The remarks were made in an interview with China Media Group (CMG). The visit is scheduled for Jan 4–7.

"The consensus reached between governments of the Republic of Korea and China when diplomatic relations were established continues to be the fundamental principle governing our relations, and its effectiveness remains steadfast. I want to clearly state that the ROK has always adhered to the one-China principle. Maintaining peace and stability in regional matters, including in Northeast Asia and concerning the Taiwan issue, holds significant importance to us," said Lee.

"The foundational relationship between the ROK and China was established on a very principled and fundamental basis from the beginning. It is clear that the ROK government has always adhered to this position and has never wavered from it. I believe that the sound development of ROK-China relations depends on both sides fully respecting each other's core interests and being mutually tolerant of each other's positions. In this context, we will, as always, uphold the one-China principle as the Taiwan issue is China's most fundamental concern," he said.

ROK president reiterates firm adherence to one-China principle