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Golden BRICS

2014-09-27 21:12:16BySONGGUOHUA&GE
CHINA TODAY 2014年7期

By+SONG+GUOHUA+&+GE+JINGJING

THE BRICS countries have transformed since the turn of the 21st century from a group of emerging markets to a substantive cooperative mechanism of developing economies with growing global influence.

Brazil is host of the first Summit of the second cycle of BRICS Summits– the Sixth BRICS Summit – in mid-July. The event denotes the maturity of this cooperative mechanism.

Expectations among the five participating countries signify the groups remarkable progress as regards pragmatic cooperation. Since 2013, when the Durban Summit decided to establish the BRICS Development Bank, the program has steadily progressed with support from all member countries. Preparatory work has been completed, so paving the way for the Brazil summit which will consolidate the BRICS mechanism and strengthen BRICS international development and cooperation.

Conception to Operation

Goldman Sachs first raised the “BRIC”economic and investment concept – the acronym comprising the initial letters of the four countries Brazil, Russia, India, and China, all with bright economic prospects – in 2001. In the ensuing years, foreign ministers and heads of the BRIC countries met at the UN and other international conferences. In 2008, for example, leaders of the BRIC group participated in the dialogue between the G8 and developing countries, with the aim of jointly addressing the financial crisis.

At the G20 London Summit in April 2009, the four BRIC countries issued a joint statement, thereby making their debut in the international political arena. On June 16, 2009, leaders of the four countries held their first official meeting in Yekaterinburg, marking initiation of the BRIC cooperative mechanism. Since then, the BRIC group gradually developed from a virtual economy-oriented concept to an official inter-governmental cooperative mechanism.

In December 2010, South Africa became a member of the organization. BRIC thus became BRICS. The accession of South Africa enabled the BRICS group to act as a key strategic platform for dialogues and cooperation between major emerging economies, and for global governance.

BRICS experienced five years of development from the first summit in 2009 to the Durban Summit in 2013. The BRICS mechanism is now an institutional framework with summit conferences at the core. Its support comes from foreign ministers ministerial conferences, high-ranking security affairs representatives and specific officials, and help from so-called track II diplomacy such as think tank conferences.

It is foreseeable that the “post-financial crisis” era will see greater participation by BRICS, as an emerging force in world society, in global governance and the balanced, rational development of international political, economic and financial systems.

Unity and Cooperation

At the outset there were concerns that BRICS, as a loosely connected“club,” would find it difficult to progress pragmatically. After five years of joint development and operation, however, the BRICS countries have proven both strong and cooperative, having achieved many hard-won successes.

There are striking differences in the social culture, historical tradition and ideology of BRICS countries. Owing to the confines of the existing unequal international political and economic order, however, they have a common interest in changing the current pattern of global governance. This constitutes the ideological foundation for their cooperation. The BRICS group must meanwhile rely on unity and cooperation to play a bigger role in international affairs. From this perspective, launching the BRICS mechanism is a wise choice.

The five countries acceptance to different degrees in the international division of labor strengthens the bond between them. It lays a material foundation for cooperation, and is a main reason why the BRICS group has developed so rapidly. Local resources and distribution of industries gives each BRICS country comparative advantages, so making possible, through trade and economics, wide cooperation and a coordinative rise. The growth in recent years of domestic trade within the five countries implies a bright future for their multilateral economic cooperation.

Taken as a whole, the concept of BRICS countries working together is a mutually beneficial, win-win choice. In spite of different social situations, the five countries are at similar stages of development. They face the same tough tasks of promoting economic growth, social stability and peoples livelihood. During this process all must as well meet the challenges and problems of restructuring and environmental protection. Their cooperation provides a precious platform for exchanging experience and tackling development problems. The BRICS group thus has both a solid material foundation for wide-ranging cooperation and a pragmatic and strategic demand for common development. Strengthened cooperation, therefore, is to their common benefit.

Inherent Characteristics

The first cycle of BRICS summits successfully concluded in Durban in 2013. The BRICS group is gradually becoming a “functional cooperative mechanism”that promotes a fairer and more just international order. In a nutshell, BRICS is composed of the three features of pragmatism, openness and win-win cooperation.

Pragmatic cooperation is the shared mission of BRICS countries. Since the first summit, the group has issued several declarations and joint communiqués, and signed cooperative documents on economy and trade, finance, investment, and science and technology. During the Durban Summit in 2013, heads of the five countries reached consensus on deepening financial cooperation. They decided to fund the BRICS Development Bank and contingency reserve pool with an initial contribution of US $10 billion, and also declared their intention to establish the BRICS business council and think tank council.

In general, from the first summit to todays regular ministerial conferences and functional and professional cooperative discussions (including conferences of high-ranking security representatives, foreign ministers, ambassadors to permanent multilateral organizations, directors of national statistics, financial ministers, central bank governors, and think tanks), the BRICS cooperation has grown from virtual to pragmatic, with wider fields and more practical connotations. BRICS cooperation also promises to be more concrete.

Openness is the common strategy of BRICS countries. In essence, the BRICS group is not a global but a regional cooperation organization. However, different from the traditional mode that is geared to geography, the five countries cooperate across geographical boundaries. They have thus created a new transnational cooperation mode. The BRICS mechanism has become an example of cooperation among different regions, institutions, modes and civilizations.

BRICS countries have always maintained an open, non-competitive attitude towards one another that has promoted their cooperation in depth and range. Under the strategic consensus that cooperation alone promotes development, the BRICS group deals with expansion issues through an open approach towards mutual complementarity, strategic cooperation and opportunities. At the 2011 Sanya Summit, BRIC accepted South Africa as representative of the African continent. The decision reflects the open attitude of an organization that is more concerned about strategic cooperation than the economic scale of its member countries.

Finally, win-win development is the goal of all member countries. Under the theme “unity, cooperation and win-win,”the BRICS group has held five summits in Yekaterinburg, Brasilia, Sanya, New Delhi, and Durban. The rapid development of their cooperation has inevitably raised concerns among Western countries. But the BRICS group is a force composed of emerging economies and developing countries. It therefore plays a key role in promoting world economic recovery and pushing the international order in a fairer, more just direction. BRICS cooperation features openness, transparency, mutual benefit, and win-win. Its goal is effective intercommunication rather than confrontation, or ganging up on any third party. BRICS countries moreover concentrate on economic, financial and development issues that are common concerns of all countries. From this perspective, therefore, the BRICS group will not cause tension. On the contrary, it will promote economic growth and world peace, in line with the common interests of the international community.

The BRICS countries, as representatives of the worlds emerging economies, command similar levels of development stage and interest appeal. They have a solid foundation for strengthened cooperation. The five countries shared goal is that of a more balanced world economy and a more democratic international relationship. Against the backdrop of unprecedented state interdependence, the BRICS group will overcome geographical, political and economic differences and constraints through upholding the principle of seeking common denominators while preserving differences, mutual benefit and win-win. They will thus realize more stable and inclusive development amid world economic restructuring, and indeed become glistening BRICS.

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