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BRICS can enlarge ’circle of friends’

Thursday,Sep 07, 2017

From: People’s Daily Online

 

Amid the high expectations for BRICS to enlarge its “friends circle,” Chinese experts suggest the organization first set its eyes on involving the other developing countries from G20.

 

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Xu Xiujun, deputy director from the Institute of World Economics and Politics under the Chinese Academy of Social Sciences, told a seminar on Friday that BRICS could link to G20 – a bigger global economic governance mechanism – to include the other five developing countries and strengthen its role as a platform for emerging economies and developing countries.

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The seminar was hosted by the Center for China and Globalization (CCG) in Beijing.“As an important platform to promote South-South cooperation, BRICS is in fact open to more developing countries beyond its members,” said Xu.All five BRICS members are G20 members and another G20 member, Mexico, was invited to attend this year’s summit in Xiamen for dialogue with emerging economies.

 

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Echoing Xu, Cui Fan, a professor from the School of International Trade and Economics at University of International Business and Economics, suggested that the other five G20 members that are developing countries should be the focus as the association expands: “So that developing countries of G20 can also meet on a regular basis and reach a census like G7 before the G20 summit,” he noted.

The core goal of BRICS aims at strengthening the discourse power of developing countries in global economic governance, which could be realized through more projects to facilitate economic development and trade, according to Cui.

Citing a study from the University of Toronto, He Weiwen, an executive council member at the China Society for the WTO, gave credit to BRICS, especially for its fulfillment of its promises made at each summit. The fulfillment percentage was 70 percent for its pledges in 2014, while the pledges made at the BRICS summit in 2016 were 89 percent accomplished.

“While it may be hard to be an international governor, this has proven its achievements in certain areas,” He said, adding that BRICS members could play leading roles in the Belt and Road Initiative.

 

 

From People’s Daily Online,2017-9-1

 

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