tl;dr
China's President Xi Jinping's absence from the BRICS summit in Brazil, with Premier Li Qiang attending instead, signals possible internal issues and strategic messaging. This move reflects China's frustration over slow progress on de-dollarization and its broader goals of reshaping global power, pr...
Optics play a crucial role in geopolitics, and the absence of China's President Xi Jinping from the BRICS summit in Brazil signals significant undercurrents. China’s decision to send Premier Li Qiang instead has sparked widespread speculation about internal politics, confidence in managing BRICS behind the scenes, or undisclosed domestic challenges. Given China’s characteristic opacity, a clear explanation remains elusive. However, this action invites examination of China’s strategic objectives, especially in relation to the digital yuan and efforts toward de-dollarization.
Xi’s absence may be interpreted as a subtle message of frustration to other BRICS members. China envisions a multipolar world where power is rebalanced, financial sovereignty is asserted, and global governance is reformed. Its long-term goals include reducing dependency on the U.S. dollar and advancing Chinese technology and infrastructure standards. As the U.S. counters China’s ambitions with pressure and ultimatums, the lack of progress on de-dollarization within BRICS likely displeases Beijing, prompting a silent but powerful diplomatic signal.
Regarding the de-dollarization agenda and a potential BRICS currency, the idea remains tentative but not abandoned. While Russian President Vladimir Putin deemed such a currency “premature,” the bloc’s move to use national currencies in trade points to a deliberate phasing out of the U.S. dollar and Western payment systems like SWIFT. This shift, impactful in economic terms, targets the dollar's dominance across nations representing 40% of global GDP by purchasing power parity and over half the world’s population. China’s digital yuan, Belt and Road Initiative engagements, and the BRICS New Development Bank all contribute pieces to this strategic puzzle.
The U.S. response to these developments has been assertive and unambiguous. Facing China's rising influence, America under President Trump has adopted a tougher stance marked by sanctions, tariffs, and stringent demands against any departure from the dollar standard. The imposition of additional tariffs on BRICS nations during the Rio summit underscores Washington’s willingness to use economic leverage to maintain dominance. This heavy-handed approach has slowed China's momentum toward de-dollarization and encouraged BRICS members to align more closely with Western powers, as seen in India’s new agreements with the U.S., U.K., and EU.
China’s absence from the summit, therefore, resonates beyond mere protocol. It embodies a strategic communication—a quiet declaration of disappointment and a call for greater commitment to shared long-term goals amid geopolitical tension. In this complex interplay of power, the most profound messages often echo in silence, shaping the future course of global economic and political alliances.