Home>Top Issues

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.

 

DSC_1362

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.

DSC_1314

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.

 

DSC_1373

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

 

  • India May Water Down China-Championed Asia Trade Pact

    Without India, the RCEP would be finished faster, Sally added. “There’s a good chance it will be concluded. But with India in the deal, it’s likely to be weaker than it otherwise would be.”

  • Wang Huiyao: Ten ways to enhance Sino-US relations

    The relationship between China and the US in the economy and trade as well as people-to-people exchanges is closer than ever, and neither side could stand the cost of cutting these ties. Both countries should recognize that under the Trump administration, they still need to continue with a working relationship that benefits not only themselves, but also the rest of the world.

  • Majority of college students want to start business

    More than 60 percent of Chinese college students said they were interested in starting their own business, according to a survey released in Beijing on Tuesday.

  • Is it time for China to Open its doors to Filipino domestic helpers?

    China’s growing demand for skilled domestic helpers offers the prospect of a new line of exchange between China and the Philippines as the two countries try to mend ties by playing down territorial disputes in the South China Sea.

  • Wang Huiyao: Summit paves way for new globalization

    That’s the new globalization that pioneers global governance and provides a new platform and approach for the growth of the world economy. It will renovate the old pattern, which is dominated by developed countries and only benefits the people there.