Bright BRICS for a Bright Fu­ture

China Pictorial (English) - - Contents - Text by Li Xia

The three-day 2017 BRICS Sum­mit con­cluded in Xi­a­men, in China’s south­east­ern prov­ince of Fu­jian on Septem­ber 5, with great suc­cess. The breath­tak­ing scenery of the coastal city of Xi­a­men, as well as per­fect prepa­ra­tions and or­ga­ni­za­tion, deeply im­pressed the par­tic­i­pants. At the open­ing cer­e­mony of the BRICS Busi­ness Fo­rum, Chi­nese Pres­i­dent Xi Jin­ping de­liv­ered a key­note speech ti­tled Work­ing To­gether to Usher in the Sec­ond “Golden Decade” of BRICS Co­op­er­a­tion, which de- scribed a path to a bright fu­ture for the emerg­ing mar­ket and de­vel­op­ing coun­tries by work­ing to­gether to pro­mote world de­vel­op­ment.

Since the 1980s, the trend of glob­al­iza­tion has pro­vided his­toric op­por­tu­ni­ties for the emerg­ing mar­ket and de­vel­op­ing coun­tries. The birth of BRICS was a re­sult of this trend. Over the decade since its in­cep­tion, BRICS has made re­mark­able con­tri­bu­tions to the global econ­omy and played a vi­tal role in in­ter­na­tional af­fairs. As Pres­i­dent Xi said in his speech, “In the past ten years, our [BRICS coun­tries’] com­bined GDP has grown by 179 per­cent, trade by 94 per­cent and ur­ban pop­u­la­tion by 28 per­cent. All this has con­trib­uted sig­nif­i­cantly to sta­bi­liz­ing the global econ­omy and re­turn­ing it to growth, and it has de­liv­ered tan­gi­ble ben­e­fits to more than three bil­lion peo­ple.”

The 2008 global fi­nan­cial cri­sis fu­eled doubt and pes­simism about the strength and fu­ture of BRICS coun­tries. Some ar­gued BRICS had lost its luster. Such takes proved short­sight-

ed and were poor judg­ments of world struc­ture and the po­ten­tial of BRICS co­op­er­a­tion. The Xi­a­men Sum­mit of­fered a good op­por­tu­nity to demon­strate the great strength and po­ten­tial of BRICS co­op­er­a­tion to the world. As Pres­i­dent Xi de­clared, “Due to com­plex in­ter­nal and ex­ter­nal en­vi­ron­ments, we BRICS coun­tries have en­coun­tered head­winds of vary­ing in­ten­sity. But the growth po­ten­tial and trends in our coun­tries re­main un­changed, and we are fully con­fi­dent about the fu­ture.”

This con­fi­dence is rooted in the spirit of open­ness, in­clu­sive­ness and win-win co­op­er­a­tion that BRICS coun­tries have main­tained amid co­op­er­a­tion across a wide range of ar­eas at mul­ti­ple lev­els. The group has launched a num­ber of co­op­er­a­tion projects aligned with the five coun­tries’ de­vel­op­ment strate­gies that meet the in­ter­ests of their peo­ple, such as the New De­vel­op­ment Bank and the Con­tin­gent Re­serve Ar­range­ment. This con­fi­dence is also in­spired by BRICS coun­tries’ ac­tive pro­mo­tion of the re­form of global eco­nomic gov­er­nance to in­crease the rep­re­sen­ta­tion and say of the emerg­ing mar­ket and de­vel­op­ing coun­tries, which is play­ing an im­por­tant role in build­ing new in­ter­na­tional re­la­tions.

Such con­fi­dence, as well as BRICS’ fruit­ful achieve­ments over the past decade, made the Xi­a­men Sum­mit par­tic­u­larly im­por­tant. At the gath­er­ing themed “Stronger Part­ner­ship for a Brighter Fu­ture,” lead­ers of the five BRICS coun­tries con­ducted in-depth ex­change and reached con­sen­sus on a wide range of top­ics in­clud­ing in­ter­na­tional sit­u­a­tions, global gov­er­nance and BRICS co­op­er­a­tion. They also passed the BRICS Lead­ers Xi­a­men Dec­la­ra­tion by sum­ma­riz­ing suc­cess­ful ex­pe­ri­ences of BRICS co­op­er­a­tion in the past decade. The Sum­mit also re­it­er­ated the BRICS spirit of open­ness, in­clu­sive­ness and mu­tu­ally ben­e­fi­cial co­op­er­a­tion, drew a new blue­print for BRICS coun­tries to strengthen their part­ner­ships, deep­ened prag­matic co­op­er­a­tion in mul­ti­ple fields, and painted a bright fu­ture for co­op­er­a­tion among the emerg­ing mar­ket and de­vel­op­ing coun­tries.

Pres­i­dent Xi de­clared in his speech: “We should pro­mote the con­struc­tion of an open global econ­omy, ad­vance trade and in­vest­ment lib­er­al­iza­tion and fa­cil­i­ta­tion, jointly build new global value chains, and re­bal­ance eco­nomic glob­al­iza­tion. Do­ing so will ben­e­fit peo­ple around the world.” This state­ment drew con­sid­er­able at­ten­tion from for­eign me­dia and be­came a hot topic dur­ing the Xi­a­men Sum­mit.

The 2017 BRICS Sum­mit has fu­eled ex­pec­ta­tions for fu­ture BRICS co­op­er­a­tion. In a his­toric pe­riod that fea­tures ex­ten­sive de­vel­op­ment, huge changes and sharp ad­just­ments, a large num­ber of emerg­ing mar­ket and de­vel­op­ing coun­tries have come of age just in time to boost the slug­gish world econ­omy, adapt to the trends of po­lit­i­cal multi-po­lar­iza­tion, eco­nomic glob­al­iza­tion and cul­tural di­ver­si­fi­ca­tion, and build a new global or­der that meets the needs of the time.

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