The Shanghai organization reformulated structure and announced the creation of an institution similar to the Bank of Brics
China Foreign Minister Wang Yi announced on Monday (1st.Set.2025) the results of the Summit of (Shanghai Cooperation Organization), including a development strategy for the next 10 years, seeking to contribute to a multipolar world. The movement goes directly against the policies implemented by the United States, which have been isolated from other powers through commercial tariffs – mainly from Brazil, which was overcoxed by 50%.
At the summit, held in the port city of Tianjin, China, those present decided to reformulate the organizational structure of OCX. Observing countries and dialogue partners were merged in a single category called “OCX partner ”. With the inclusion of Laos, the organization will have 27 nations.
Among the decisions announced by the organization is the approval of the creation of the OCX Development Bank. The institution will function as a multilateral cooperation platform in the European region.
The new institution has a nomenclature similar to (acronym of new development bank), the call, created by the founding countries of the bloc (among them, Brazil). Currently, the NDB is chaired by the former chief of the Brazilian Executive (PT).
OCX participating countries have declared support to the WTO (World Trade Organization) multilateral trade system, asking for the end of unilateral measures that violate their rules.
On August 19, the United States accepted with Brazil on the rates imposed by the management of Donald Trump (Republican Party). The decision was after a manifestation of the president’s government (PT) saying that the Americans were violating WTR commitments.
The Shanghai organization was initially created to align region countries on security issues, but has been expanded to commercial purposes with the increase in the group. During the meeting in China, 4 security centers and 6 practical cooperation platforms were established.
The summit also prepared proposals on development in areas such as energy, green industry, digital economy, artificial intelligence and technological innovation.
