Opinion / From the Press

BRICS should not be underestimated

( Updated: 2013-01-17 21:28

To assess the values and roles of the BRICS countries — Brazil, Russia, India, China and South Africa — it is necessary to take a historical, dialectical and developmental view, a People's Daily article says. Excerpts:

The BRICS countries' security affairs and health ministers' conferences in New Delhi provide chance to review the bloc and the world's view of it.

Some voices have recently said BRICS countries cannot maintain their economic growth or cooperation in many fields. Against this backdrop, Chinese representatives at the conferences in New Delhi said the BRICS countries should be confident in their path of development and strengthen cooperation with one another.

BRICS countries have enough reasons to be self-confident. According to the World Bank, their average economic growth in the first decade of this century was more than 8 percent, much higher than the 2.6 percent average growth in developed economies and the global average of 4.1 percent. In 2010, the BRICS countries contributed more than 60 percent of world economic growth.

The difficulties confronting BRICS countries face are evident. But most of the problems arise from the process of development. To solve these problems, BRICS countries must deepen their cooperation to attain more sustainable and balanced development.

These countries have many factors that favor their long-term, stable growth. First, the populations, territorial sizes, markets and natural resources far exceed the total of those of the most-developed seven countries. Second, BRICS countries' economies are all based on real economy with strong potential in domestic demands. Third, the industrialization, urbanization and improvement of laborers' living standards will stimulate robust economic growth in these countries.

BRICS is not only an economic bloc, but also a cooperative mechanism among the collectively rising powers. The appearance of BRICS is a natural result of the development of international situations.

BRICS countries need to strengthen economic interaction, expand their cooperation and strive together for a bigger say in international affairs and global governance issues.

They will contribute more to the world’s peace and stability.

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