Neither the Covid-19 pandemic nor Russia’s offensive against Ukraine has played a pivotal role in bringing about the current economic downturn in Europe, German Chancellor Olaf Scholz has argued. He attributed it to growth in Asia instead, warning that there likely will not be a return to the good old days in the foreseeable future.

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The bloc’s acronym is a “brand” and the addition of new members will not change that, a top Russian diplomat has said The BRICS economic group will keep its current name despite the bloc’s expansion, a top Russian diplomat has said.