State House News Service


BRICS potential huge, but needs more work


BEIJING, Sept. 1, 2017 /PRNewswire/ -- A newly released report by China.org.cn on the BRICS and its upcoming summit in Xiamen, China.

The BRICS cooperation mechanism has undergone 10 years of development, during which the acronym has grown from a concept invented by an economist from Goldman Sachs Group Inc. of the United States into a multilateral cooperative mechanism exerting a great influence on world politics, economic and security affairs.

In recent years, Western media have been harping on a regular theme known as "fading of the BRICS". In fact, a one-sided discussion on whether the worth of "BRICS" is 24 or only 14 carat gold doesn't have much practical significance. The five member states of BRICS are not five gold bars preserved in a bank vault, but comprise a multilateral cooperation mechanism of differing, independent economies. Influenced by many factors at home and abroad, fluctuations and changes within a certain range are only to be expected. So, we need to focus on the development trend and potential of the BRICS, as well as the challenges it faces.

As the representatives of emerging economies and as leading developing countries, the BRICS members have different characteristics in terms of their resource endowments and development patterns. Yet, they all have enormous space within which to grow. Apart from South Africa, the other members are all populous countries. Moreover, as big countries with rich resources, they each have strong and gradually rising scientific and technological strengths. Individually, Russia is an old-line world power that has both a good grounding left by the former Soviet Union and with a good reputation for innovative development in the field of scientific theory in recent years; China and India have been in the world forefront in the fields of aerospace, machinery manufacturing, computers and medicine; Brazil also has strong capabilities in steel and aircraft manufacturing.

At the same time, we must be fully aware of the problems facing the world today, including economic slowdown, a rising trend away from globalization, and the threat of terrorism, all of which will adversely affect the BRICS countries and their cooperative mechanism. Some Western countries are also trying to use the cultural and ideological differences among the BRICS countries to provoke contradictions within the organization. Therefore, the first thing member countries must do is to strengthen their cooperative mechanism so as to form a great cohesive force.

Chinese President Xi Jinping put forward the building of "a community of shared future for humankind", which is just the international outlook BRICS cooperation should be upholding. The BRICS countries have their own goals and aspirations, yet should try their best to work more closely, control crises and contradictions, and, at the same time, strengthen economic and trade cooperation, promote exchanges of experiences and culture, and avoid divergence.

The forthcoming BRICS Summit in Xiamen on September 3 is an important diplomatic activity ahead of the 19th National Congress of the Communist Party of China. China will contribute its wisdom at home to promote mutually beneficial cooperation between the BRICS members and improve global governance. We are looking forward to a positive outcome of the summit, and we also hope that the BRICS cooperative mechanism will glow with greater splendor in its next 10 years.

China Mosaic

BRICS potential huge, but needs more work

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