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 <p><a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> member China is leading all developing countries to fall under their ‘<a rel="noopener noreferrer nofollow" title="Belt and Road Initiative" href="https://thebittimes.com/tag/belt-and-road-initiative.html">Belt and Road Initiative</a>’ (BRI) for global trade. China launched the <a rel="noopener noreferrer nofollow" title="Belt and Road Initiative" href="https://thebittimes.com/tag/belt-and-road-initiative.html">Belt and Road Initiative</a> a decade ago to help finance developing countries build better infrastructure, ports, and railways, among others. The initiative is now a success as several countries received loans from China to build better infrastructure for trade. Developing countries now owe China $1.1 trillion in loans through the BRI initiative.</p>
 <p><strong>Also Read: BRICS Currency To Be Attractive Than US Dollar, Pound &amp; Euro: Minister</strong></p>
 <p>China announced early this year that it would build a railroad from the Chinese city of Kashgar to Pakistan’s Gwadar port. The cost to build the railroad from Pakistan to China stands at a staggering $58 billion. <a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> country China said that the railroad to Pakistan will be built to reduce dependency on the West for trade.</p>
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 <p>Therefore, <a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> aims to end dependency on the US and the West for global trade and dominate the sector locally. Read here to know how many sectors in the US will be impacted if <a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> stops using the dollar.</p>
 <p><strong>Also Read: Gold Prices Forecasted To Rise 50% In 2024, Reach $3,000</strong></p>
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 <h2 class="wp-block-heading" id="h-brics-155-countries-now-come-under-the-belt-amp-road-initiative-with-china">BRICS: 155 Countries Now Come Under the ‘Belt &amp; Road Initiative’ With China</h2>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="683" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" alt="BRICS Leaders Countries" class="wp-image-87086 ewww_webp" sizes="(max-width: 1024px) 100vw, 1024px" data-src-img="https://cdn.thebittimes.com/images/2023/11/15/a200c2ae6a1637fbcfba9a32956f214b.webp" data-src-webp="https://cdn.thebittimes.com/images/2023/11/15/a200c2ae6a1637fbcfba9a32956f214b.webp.webp" data-srcset-webp="https://cdn.thebittimes.com/images/2023/11/15/a200c2ae6a1637fbcfba9a32956f214b.webp.webp 1024w, https://cdn.thebittimes.com/images/2023/11/15/a200c2ae6a1637fbcfba9a32956f214b.webp.webp 300w, https://cdn.thebittimes.com/images/2023/11/15/a200c2ae6a1637fbcfba9a32956f214b.webp.webp 768w, https://cdn.thebittimes.com/images/2023/11/15/a200c2ae6a1637fbcfba9a32956f214b.webp.webp 1536w, https://cdn.thebittimes.com/images/2023/11/15/a200c2ae6a1637fbcfba9a32956f214b.webp.webp 380w, https://cdn.thebittimes.com/images/2023/11/15/a200c2ae6a1637fbcfba9a32956f214b.webp.webp 550w, https://cdn.thebittimes.com/images/2023/11/15/a200c2ae6a1637fbcfba9a32956f214b.webp.webp 800w, https://cdn.thebittimes.com/images/2023/11/15/a200c2ae6a1637fbcfba9a32956f214b.webp.webp 1160w, https://cdn.thebittimes.com/images/2023/11/15/a200c2ae6a1637fbcfba9a32956f214b.webp.webp 1920w" data-srcset-img="https://cdn.thebittimes.com/images/2023/11/15/a200c2ae6a1637fbcfba9a32956f214b.webp 1024w, https://cdn.thebittimes.com/images/2023/11/15/a200c2ae6a1637fbcfba9a32956f214b.webp 300w, https://cdn.thebittimes.com/images/2023/11/15/a200c2ae6a1637fbcfba9a32956f214b.webp 768w, https://cdn.thebittimes.com/images/2023/11/15/a200c2ae6a1637fbcfba9a32956f214b.webp 1536w, https://cdn.thebittimes.com/images/2023/11/15/a200c2ae6a1637fbcfba9a32956f214b.webp 380w, https://cdn.thebittimes.com/images/2023/11/15/a200c2ae6a1637fbcfba9a32956f214b.webp 550w, https://cdn.thebittimes.com/images/2023/11/15/a200c2ae6a1637fbcfba9a32956f214b.webp 800w, https://cdn.thebittimes.com/images/2023/11/15/a200c2ae6a1637fbcfba9a32956f214b.webp 1160w, https://cdn.thebittimes.com/images/2023/11/15/a200c2ae6a1637fbcfba9a32956f214b.webp 1920w" data-eio="j">
  <noscript><img decoding="async" width="1024" height="683" src="https://cdn.thebittimes.com/images/2023/11/15/a200c2ae6a1637fbcfba9a32956f214b.webp" alt="BRICS Leaders Countries" class="wp-image-87086" srcset="https://cdn.thebittimes.com/images/2023/11/15/a200c2ae6a1637fbcfba9a32956f214b.webp 1024w, https://cdn.thebittimes.com/images/2023/11/15/a200c2ae6a1637fbcfba9a32956f214b.webp 300w, https://cdn.thebittimes.com/images/2023/11/15/a200c2ae6a1637fbcfba9a32956f214b.webp 768w, https://cdn.thebittimes.com/images/2023/11/15/a200c2ae6a1637fbcfba9a32956f214b.webp 1536w, https://cdn.thebittimes.com/images/2023/11/15/a200c2ae6a1637fbcfba9a32956f214b.webp 380w, https://cdn.thebittimes.com/images/2023/11/15/a200c2ae6a1637fbcfba9a32956f214b.webp 550w, https://cdn.thebittimes.com/images/2023/11/15/a200c2ae6a1637fbcfba9a32956f214b.webp 800w, https://cdn.thebittimes.com/images/2023/11/15/a200c2ae6a1637fbcfba9a32956f214b.webp 1160w, https://cdn.thebittimes.com/images/2023/11/15/a200c2ae6a1637fbcfba9a32956f214b.webp 1920w" sizes="(max-width: 1024px) 100vw, 1024px">
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   Source: Alan Santos / PR / Wikipedia Commons
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 <p>As of 2023, 155 countries signed the <a rel="noopener noreferrer nofollow" title="Belt and Road Initiative" href="https://thebittimes.com/tag/belt-and-road-initiative.html">Belt and Road Initiative</a> with China to better their chances of trading freely. The 155 countries constitute 75% of the world’s population and account for more than half of the world’s GDP. If <a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> launches a new currency and if China asks the BRI countries to repay the $1.1 trillion in loans in the new currency, the US dollar will slip into the path of a decline.</p>
 <p><strong>Also Read: BRICS Looks to Ditch US Internet Services &amp; Create New Alternative</strong></p>
 <p>China has not yet weaponized the Belt and Road Initiative but might use it over the years to challenge the US dollar. On the other hand, BRICS and ASEAN countries are advancing to dethrone the US dollar from the global reserve status.</p>
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<div class="cs-entry__tags">
 <ul>
  <li>Belt and Road Initiative</li>
  <li>BRICS</li>
  <li>china</li>
 </ul>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/brics-155-countries-sign-belt-road-initiative-with-china-for-trade-tbt70376.html">https://thebittimes.com/brics-155-countries-sign-belt-road-initiative-with-china-for-trade-tbt70376.html</a></p>

BRICS: 155 Countries Sign Belt & Road Initiative With China For Trade

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