Xi Jinping misses BRICS summit for first time in 12 years amid buzz about his political future

The New Diplomat
Writer

Ad

Gasoline Prices Drop Toward Pandemic-Era Lows

The national average price of gasoline dropped below $3 a gallon over the weekend. GasBuddy has predicted that prices will go even lower in the coming weeks, with good prospects of motorists enjoying sub-$3 prices for extended periods. This drop is overwhelmingly being driven by the significant increase in oil production from OPEC throughout 2025.…

We’ve Paid Over N58b Bridging Claims To Oil Marketers – NMDPRA

Alleged Christian Genocide Claim is Damaging Nigeria’s Image– Tuggar Laments

By Abiola Olawale Minister of Foreign Affairs, Yusuf Tuggar, has voiced concern over what he described as the damaging impact of the "Christian genocide" narrative on Nigeria's international image. This is as the Minister claimed that the country's complex security challenges are being falsely simplified as religious persecution. Speaking at the Reuters NEXT Gulf Summit…

(Full List) Salah, Osimhen Nominated as CAF Unveils Nominees for 2025 African Male Player of the Year

By Abiola Olawale The Confederation of African Football (CAF) has officially released the much-anticipated shortlist for the 2025 African Men's Player of the Year award. Headlining the prestigious 10-man list are two of the continent's most electrifying stars: Egypt's Mohamed Salah (Liverpool) and Nigeria's Victor Osimhen (Galatasaray, on loan from Napoli). ​The release of the…

Ad

Brazil will host the BRICS summit from Sunday with pressing international issues — including the Israeli attack against Iran, the Gaza crisis and US President Donald Trump’s trade tariffs — under cautious discussion. But Chinese President Xi Jinping was not in attendance for the first time in his over 12-year rule. The development came amid growing speculation that the Communist Party chief was laying the groundwork for an orderly power transition ahead of a possible retirement.

Chinese Premier Li Qiang will lead the delegation attending the event in Rio de Janeiro on Sunday. This is the first time since he became president that Xi Jinping will miss the summit of the emerging economies. The decision to delegate power comes amid a continued tariff war with Trump and continued speculation that the CCP chief is planning his retirement.

According to the state-run Xinhua news agency, the powerful 24-member Political Bureau of the ruling Communist Party of China had reviewed a set of new regulations on the work of the party’s institutions during a June 30 meeting. A China-based political analyst told PTI that the regulations on these party bodies could hint at preparations for retirement. The overseas Chinese dissident community in recent months was abuzz with speculation of a power struggle within the secretive and tightly controlled CPC.

Others believe that Xi — regarded as the most powerful leader after CPC founder Mao Zedong — may be delegating some powers to focus on larger issues. The recent decisions also come amidst a tariff war with Trump that has disrupted China’s USD 440 billion exports to America, besides major headwinds faced by the Chinese economy, with growth falling due to continued slowdown, and the collapse of the housing market, the mainstay of the economic growth.

The crisis was exacerbated by the government’s attempts to rein in the corporate sector and the unsuccessful zero COVID policy of shutting down Chinese cities during the height of the pandemic, resulting in the industry and business coming to a grinding halt.

Credit: Financial Times

Ad

X whatsapp