This Is How the AI Bull Market Ends

The AI bull market as we know it right now will end...And all the big popular AI stocks investors are piling into right now will NOT be the where the biggest returns will come from. And for investors who don't know how the market is changing and where it's going...They could end up left behind.

Turkey seeks to join the BRICS bloc of emerging economies, a Kremlin official says

The Associated Press
September 04, 2024

MOSCOW (AP) -- NATO member Turkey has applied for membership in the BRICS bloc of developing economies, a senior Kremlin official said Wednesday, as Russia and China seek to counter the West's global influence.

Yuri Ushakov, President Vladimir Putin's foreign affairs aide, told reporters that Turkey has submitted an application "for full membership" in the bloc that Russia this year chairs, and it will be considered.

Turkish President Recep Tayyip Erdogan has stated several times that his country aspires to become a member of the BRICS alliance, according to Omer Celik, a spokesman for Erdogan's ruling party. But Celik stopped short this week of confirming that Turkey has applied formally.

The BRICS alliance was founded in 2006 by Brazil, Russia, India and China, with South Africa joining in 2010. It recently has undergone an expansion, and now includes Iran, Egypt, Ethiopia and the United Arab Emirates. Saudi Arabia has said it's considering joining, and Azerbaijan and Malaysia have formally applied.

BRICS has a stated aim to amplify the voice of major emerging economies to counterbalance the Western-led global order. Its founding members have called for a fairer world order and the reform of international institutions like the United Nations, the International Monetary Fund and the World Bank.

Erdogan, who has been in power for more than two decades, has sought to carve a more independent foreign policy for Turkey and to enhance its global influence. The country is also frustrated by the lack of progress in its membership talks with the European Union.

Last week, Erdogan said Turkey should "simultaneously" develop relations with both the East and the West.

Turkey, which straddles Europe and Asia, joined the NATO military alliance in 1952. It began talks to join the European Union in 2005 but the negotiations have stalled due to concerns over democratic regression under Erdogan's administration, and ongoing disputes with Cyprus, an EU member, among other challenges.

BRICS is expected to discuss taking in new members in a meeting in Russia next month.

Putin earlier this year welcomed Turkey's interest in the bloc and promised that Moscow "will support this aspiration and desire to be together with the countries of this alliance, to be together, closer, to solve common problems."

On Monday, Putin spokesman Dmitry Peskov also said Turkey expressed interest in joining BRICS.

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