BRICS Leaders Discuss Alternative Payment System

German Finance Minister Christian Lindner has warned of the risks of a U.S.-EU trade conflict, emphasizing the need for diplomacy and a new trade agreement rather than escalating tariffs amidst a close U.S. presidential race. He noted the ongoing support for Ukraine, with the U.S. finalizing a significant loan, while the EU completes its aid contributions. Meanwhile, at the BRICS summit in Russia, leaders including Xi Jinping and Narendra Modi discussed enhancing cooperation and trade among member countries, as well as the establishment of centers to facilitate economic zones and resources. A final communiqué from the summit called for a ceasefire in Gaza and hinted at an alternative payment system to reduce reliance on the dollar. The BRICS bloc, now representing 45% of the world's population, is focused on pragmatic cooperation to boost economic relations amidst global tensions. The evolving geopolitical landscape is marked by a shift towards non-Western alliances and the emergence of new economic frameworks.