Transforming BRICS: A new era dawns for the Global South

The five initiatives on BRICS cooperation proposed by China offer pragmatic solutions to overcome the developmental challenges faced by countries in the Global South. These initiatives are set to redefine the cooperative landscape, offering innovative solutions that promise to unlock new potentials for growth and prosperity.

One of the cornerstones of this strategy is the open-source and inclusive AI initiative, which seeks to democratize access to advanced technology. This initiative aims to dismantle the monopoly of existing high-end technologies by providing developing nations with affordable and practical technological tools, thereby empowering these nations to leapfrog into the digital age.

The trade and investment facilitation initiative seeks to streamline cross-border cooperation by eliminating barriers such as tariffs, customs procedures, and restricted investment access.

The digital industry cooperation and intelligent manufacturing initiatives focus on transforming and upgrading the real economy, helping countries in the Global South break free from the constraints of low-end industries.

The science and technology talent development initiative aims to address the severe shortage of technical expertise in the Global South. By laying a solid foundation for talent cultivation, this initiative will ensure that developing countries have the human capital needed to drive innovation and growth.

As we approach the third "golden decade" of BRICS cooperation, these initiatives mark the beginning of a new phase of high-quality development. Unlike the first two decades, which were characterized by expanding scale and deepening cooperation, this new era is defined by transformative leaps in development, security, civilization, and governance.

First, these five initiatives will free countries in the Global South from the constraints of traditional economic frameworks and create new engines of innovation through digital technology, high-end manufacturing, and joint talent development. This will reshape the model of cooperation among emerging economies.

Second, by upholding the principles of common, comprehensive, cooperative, and sustainable security, these initiatives aim to resolve regional differences and lay a solid foundation for global development.

Third, they will foster mutual learning among civilizations, generating positive energy for stable inter-country relations and encouraging frequent and friendly exchanges among people.

Last, under the "greater BRICS" cooperation model, these initiatives will advocate for the common demands of the Global South, promoting a more just and equitable global governance system, upholding the authority of the United Nations, and enhancing the influence of Global South countries on the world stage.

In conclusion, the most significant breakthrough of the third "golden decade" lies in transforming BRICS from a regional trade and economic platform into a formidable force in global governance. By providing pragmatic public goods, these initiatives will strengthen the Global South, promote an inclusive recovery of the world economy, ensure a fair evolution of the international order, and open a new chapter of win-win development for BRICS.

The author is a professor in the School of International Studies at Peking University and executive director of the Institute for Global Cooperation and Understanding at Peking University.