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BRICS shaping new global order: Expert

BRICS summit,attended by PM Manmohan Singh,showed it is a defining global force.

Written by Agencies | Beijing |
April 18, 2011 6:30:17 pm

The just concluded BRICS summit,which was attended by Prime Minister Manmohan Singh,demonstrated that the five emerging economies are emerging as a defining force to shape the new international political and economic order,a Chinese analyst has observed.

“The Sanya BRICS summit was a milestone,which showed that for the first time in modern history,developing countries,and those five emerging economies in particular,are thinking big and doing big,” Rong Ying a senior research fellow at China Institute of International Studies,an official Chinese think tank said.

Singh along with leaders of Brazil,Russia,China and South Africa attended the summit held at Sanya in China on April 14.

“BRICS also constitutes a new model of global economic cooperation. It has a broad vision for international economic cooperation and interaction,” Rong said.

“It undertakes to work with the UN,G20 and other multilateral cooperative mechanisms by playing a constructive role in addressing the common challenges facing the world,” he wrote in an article titled ‘BRICS best is yet to come’,published in state run China Daily today.

The meeting,which brought together the five fastest growing economies,resulted in a statement elaborating their vision for common development and shared prosperity and put forward many new initiatives for global economic governance,he said.

“International opinion has varied in response to BRICS. Some acclaim it as the advent of a multi-polarity era.

Others are concerned about the challenges it may pose to the West-dominated world “For still others,BRICS is merely an ad hoc group,the countries are not really united,and it is only China that makes it possible,” he said.

“All these views miss the essential truth: BRICS is a manifestation of developing countries rising as a group.

As a major driving force for global economic recovery in the post-crisis era,it is only natural for the BRICS states to seek a bigger say and more representation for themselves and for other developing countries on issues that have a bearing on world peace and development,” he said.

Cooperation among the BRICS countries offers the promise of building a favourable external environment that helps and complements their own development and for developing countries as a whole,he said.

“BRICS is becoming a defining force shaping the new international political and economic order,not only because of the member countries’ impressive growth rates in the past,but also because of their great potential in the decades to come.

They have all formulated long-term development strategies that require a more just and fair international political and economic governance system,” he said.

“But they do not intend to establish a new system to replace the current one,one in which they all have a stake.

What they are looking for is to coordinate efforts to make the emerging international system more balanced,equitable and sustainable,” he said.

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