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China, Brazil Back Effort To Expand BRICS As White House Condemns ‘Attack on the Dollar’

by Daily Hodl Staff
November 3, 2025
in Financeflux

China says it’s ready to further expand the economic alliance known as BRICS.

The nation is joining Brazil in backing Malaysia’s bid to join the group, reports the Chinese state-backed Global Times.

Chinese Foreign Ministry spokesperson Guo Jiakun says BRICS welcomes Malaysia and other like-minded partners from the Global South, following Brazilian President Luiz Inacio Lula da Silva’s endorsement of Malaysia’s full membership.

Guo emphasized BRICS as a key platform for emerging markets, promoting global multipolarization and democratizing international relations.

The White House feels otherwise, with US President Donald Trump recently condemning BRICS.

“It’s an attack on the dollar, and we’re not going to let anybody attack the dollar.”

In a press conference, Trump threatened India with additional tariffs beyond a 25% levy on Indian goods for taking part in the alliance and for ties to Russia.

BRICS was founded in 2009 and is now comprised of Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, the United Arab Emirates and Indonesia.

Partner countries currently include Belarus, Bolivia, Malaysia, Kazakhstan, Cuba, Thailand, Uganda, Uzbekistan, Nigeria and Vietnam, participating in summits without full membership.

The bloc prioritizes local currency transactions and payment platforms to reduce dollar reliance, though some members deny intent to weaken it.

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