Putin declares liberal globalization obsolete at BRICS summit

Russian President Vladimir Putin declared the liberal globalization model obsolete, stating the future lies with emerging markets, speaking at the BRICS summit. Putin, addressing the BRICS summit via video link, cited the shift in global economic activity towards rapidly growing emerging markets. He also urged increased cooperation among BRICS nations, including using national currencies for trade. The BRICS group, now including several nations, represents a significant portion of the world's population and economic output, though China holds the largest share. Putin's remarks occurred amid an International Criminal Court warrant.