The BRICS Mechanism: Growing in Maturity
As a result of flexibility in accordance with the changing international situation, the BRICS mechanism has been adjusting its own role, avoiding the inherent mode of conservatism, generalized functions and low efficiency commonly seen in other multilateral arrangements. It has broken free from the traditional narrow framework as a representative of the major emerging economies only, and is now taking a broader view to incorporate the interests of all developing countries. The BRICS group, deeply engaged in global governance, is committed to continuous institutional reform and transformation from a short-term risk response mechanism to one of long-term cooperation for global governance. In the coming “golden decade,” the BRICS should become even more innovative, drawing on wider sources of wisdom to provide unique solutions and substantially strengthening partnerships, to increase further its authority and influence in international affairs and position itself as an exemplary multilateral cooperation mechanism for the new century.
Steady Development of the BRICS Mechanism
Since the start of the BRICS countries’ dialogue and cooperation, there has been regular adaptation to changes in the global economic environment. In particular, the BRICS has made great efforts in two major areas of mechanism building. Wang Youming is Senior Research Fellow and Director of the Department for Developing Countries Studies, China Institute of International Studies (CIIS).