China will clean up ‘hidden risks’ in sectors where ‘power is concentrated, capital is intensive and resources are rich’, the leader told a cabinet meeting.
India is trying to create a subgroup within Brics to wane China’s influence in the bloc, but its US tilt means it has yet to take a “clear position on either side”.
Neither India nor Brazil want to lose influence in the bloc, but observers say New Delhi’s recent tilt to the West mean its ‘makes sense’ for other BRICS members to back Beijing’s push to welcome Saudi Arabia, Indonesia and others into the fold.