Sum­mit paves way for new glob­al­iza­tion

China Daily European Weekly - - Cover Story - WANG HUIYAO The au­thor is pres­i­dent of the Cen­ter for China and Glob­al­iza­tion, an in­de­pen­dent think tank based in Bei­jing. The views do not nec­es­sar­ily re­flect those of China Daily.

As BRICS mem­bers move closer to the core of in­ter­na­tional is­sues, they also will be faced with more re­spon­si­bil­i­ties

Dur­ing the re­cently con­cluded BRICS Sum­mit in Xi­a­men, Fu­jian prov­ince, the mem­bers of BRICS and five other de­vel­op­ing coun­tries wit­nessed the process of new glob­al­iza­tion based on the prin­ci­ples of equal­ity and re­cip­ro­cal and mu­tual ben­e­fit.

As Pres­i­dent Xi Jin­ping ex­pressed dur­ing his keynote speech at the ninth BRICS Sum­mit, the emerg­ing-mar­ket and de­vel­op­ing coun­tries should work to­gether to build an open world econ­omy and pro­mote in­clu­sive and ben­e­fi­cial eco­nomic 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.

Both BRICS and the Belt and the Road Ini­tia­tive are pro­mot­ing eco­nomic, po­lit­i­cal, se­cure and cul­tural co­op­er­a­tion within larger ar­eas around the world, seek­ing fairer po­si­tions and de­served rights for the de­vel­op­ing coun­tries and those from emerg­ing mar­kets and pav­ing the way for free trade, new global gover­nance and a new growth ap­proach.

Us­ing the in­ter­na­tional co­op­er­a­tion sys­tem, China is on its way to cre­at­ing a web against the de-glob­al­iza­tion and anti-glob­al­iza­tion trend, es­pe­cially among de­vel­oped economies.

Build­ing up the African Re­gional Cen­ter of the New De­vel­op­ment Bank for the de­vel­op­ment of Africa and launch­ing the Con­tin­gent Re­serve Ar­range­ment for fi­nan­cial sta­bil­ity in the group are two cru­cial steps for the en­hance­ment and de­vel­op­ment of BRICS.

On the ba­sis of eco­nomic strate­gic co­op­er­a­tion, the BRICS Plus ap­proach will im­prove the group’s pop­u­lar­ity in the de­vel­op­ing world.

With re­gard to in­ter­na­tional se­cu­rity and or­der, BRICS coun­tries want to build up more rea­son­able in­ter­na­tional or­der within the frame­work of United Na­tions, and hence the voices of de­vel­op­ing coun­tries and emerg­ing mar­kets could be heard more of­ten.

With the fur­ther de­vel­op­ment of e-com­merce, the co­op­er­a­tion on on­line busi­ness among the BRICS na­tions could be an ef­fec­tive and la­bor-sav­ing ap­proach to over­come the tra­di­tional trade bar­ri­ers they have en­coun­tered. The in­ter­net could link the five mem­bers of a mega mar­ket with more than 3 bil­lion peo­ple, since China now has the lead­ing e-com­merce com­pa­nies and ad­vanced mar­ket and the oth­ers also have built a com­pre­hen­sive cy­ber­net­work and have many in­ter­net users.

The Xi­a­men Sum­mit also high­lights the ex­change of cul­ture among the dif­fer­ent re­gions. As the di­rec­tor of a Chi­nese think tank, the Cen­ter for China and Glob­al­iza­tion, I to­tally un­der­stand the im­por­tance and dif­fi­cul­ties of cul­tural com­mu­ni­ca­tions be­tween dif­fer­ent peo­ples with di­verse lan­guages, habits and cus­toms.

Ed­u­ca­tion is the pre­con­di­tion of de­vel­op­ment, and mea­sures should be taken to at­tract more over­seas stu­dents from among the mem­bers of the group. Thus the stu­dents would play the role of a bridge for the peo­ples of the BRICS mem­bers and trans­fer prac­ti­cal ex­pe­ri­ences back to their home­lands.

Be­sides ed­u­ca­tion, the think tanks from dif­fer­ent fields in the mem­ber coun­tries should play a more im­por­tant role in launch­ing new sys­tems or so­lu­tions, and es­tab­lish­ment of a think tank league should be con­sid­ered in or­der to pro­mote the ad­vance­ment of BRICS.

Fac­ing slug­gish eco­nomic growth and se­cu­rity un­cer­tain­ties, the world needs new so­lu­tions to off­set the ebb. In­stead of re­treat choices like pro­tec­tion­ism, China has cho­sen to be a bea­con of mul­ti­lat­eral trade and an open world econ­omy.

It is in this way that the world should find growth im­pe­tus, and more peo­ple can be­come in­volved in and ben­e­fit from in­ter­na­tional co­op­er­a­tion. BRICS sets a good ex­am­ple and also makes ef­forts to re­al­ize the above tar­gets.

China un­doubt­edly is the linch­pin of the trend, and it should con­tinue to play that role in the fu­ture. We can see that a new era is on its way and the new prin­ci­ples and in­ter­na­tional or­der are tak­ing shape, as the Xi­a­men Sum­mit in­di­cates.

One thing is for sure: BRICS will move closer to the core of the world and have more say on in­ter­na­tional is­sues. The next golden decade for this group not only means more mea­sures for the world, but also more re­spon­si­bil­i­ties for the group’s mem­bers.

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