Global Economic Landscape: The Rising Prominence of BRICS Countries
Promoting Cooperation among Developing Countries and Emerging Markets
Geneva, Oct 25 (Bernama-Xinhua) – The BRICS mechanism has played a key role in promoting cooperation among developing countries and emerging markets against the backdrop of global geopolitical turmoil, said a United Nations (UN) senior economist, Xinhua reported.
An Important Force in the World Economic Landscape
The BRICS countries have become an important force in the world economic landscape, and their development experience is worth learning for the Global South countries, said Liang Guoyong, a senior economist with the United Nations Conference on Trade and Development, in a written interview with Xinhua. He added that their cooperation in various fields has continued to deepen, with economic and trade exchanges between BRICS countries and other developing countries expanding as well.
Beyond Regional Boundaries: A Core Mechanism for Cooperation
The cooperation mechanism among the BRICS countries has transcended specific regions and become a core mechanism for cooperation among emerging economies, playing a positive role in building a more inclusive global economic and trade system, according to Liang.
New Areas for Cooperation: The Future of BRICS
In the future, cooperation among the BRICS countries in new areas such as digital economy, artificial intelligence, cross-border payments, and logistics will enable the mechanism to play a greater role in promoting international economic and trade cooperation, Liang said. He believes that the appeal of the BRICS mechanism lies in the expanding influence of its members in the global political and economic system, which offers an effective way for members to strengthen economic and trade exchanges and promote economic development.
The Importance of International Cooperation
Liang expressed his belief that under the current situation, it is necessary to give full play to the international cooperation mechanisms at all levels, especially BRICS, to promote economic and trade cooperation among developing countries and enlarge the development pie. He emphasized that South-South cooperation has become the main driving force for developing countries to strengthen cooperation in areas such as trade, investment, and infrastructure construction, with the BRICS countries, including China, playing an important role in this.
China: A Key Player in Global Economic Development
The expert noted that China has become the world’s largest trading country, the largest exporter, and the second-largest importer in goods trade, with its growing imports providing an important driving force for the economic growth of other developing countries. As one of the world’s largest foreign investors, China has also provided important support for the industrialisation and economic diversification of low-income countries.
A Look Ahead: China’s Role in Global Economic Development
Looking ahead, the economist said China will continue to play an important role in promoting the globalisation process, stimulating world economic growth, and facilitating the implementation of the United Nations 2030 Agenda for Sustainable Development.
Conclusion
In conclusion, the BRICS mechanism has become a vital platform for cooperation among developing countries and emerging markets, promoting global economic development and stability. As the world continues to face challenges, the BRICS mechanism is expected to play an increasingly important role in promoting international economic and trade cooperation, and China will remain a key player in driving this process forward.
Frequently Asked Questions
Q: What is the role of the BRICS mechanism in the global economic landscape?
A: The BRICS mechanism plays a key role in promoting cooperation among developing countries and emerging markets, building a more inclusive global economic and trade system.
Q: What are the key areas for cooperation among BRICS countries in the future?
A: The key areas include digital economy, artificial intelligence, cross-border payments, and logistics, enabling the mechanism to play a greater role in promoting international economic and trade cooperation.
Q: What is China’s role in the global economic development process?
A: China will continue to play an important role in promoting the globalisation process, stimulating world economic growth, and facilitating the implementation of the United Nations 2030 Agenda for Sustainable Development.