As the golden season of autumn arrives, the 8th BRICS Summit will be held in Goa, India. Xi Jinping, the President of the People’s Republic of China, has arrived in Goa and will attend the summit in person. The summit is preceded by the informal meeting of leaders from the 5 BRICS nations in Hangzhou, where the G20 Summit was held in last month. In Hangzhou, the BRICS nations contributed a lot to the comprehensive plan of global economic growth, and the summit in Goa will give top priority to the cooperation of emerging markets and developing economies. By taking part in the two summits consecutively, President Xi demonstrates the significance of China in boosting world economy and optimizing global governance. The people in India, from all walks of life, are looking forward to the substantial fruits to be achieved in the Goa summit with China as the driving force, and to a step forward for the BRICS nations with regard to their cooperation mechanism.
The G20 Summit in Hangzhou followed the umbrella topic of “building an innovative, energetic, interactive and tolerant world economy”. The BRICS Summit in Goa will take the theme of “finding an effective, tolerant and common solution”. “Judging by the themes of the two summits, the 8th BRICS Summit in Goa serves as a continuance of the G20 Summit in Hangzhou,” said Ayi Lili, a research fellow at IDSA (Institute for Defence Studies and Analyses) in India, in a recent interview with People’s Daily. All 5 BRICS nations are members of the G20 Group, and the primary topics of both summits are devoted to the construction an inclusive world economy. The two summits are preceded by the monumental event of “Brexit”, and will surely boost the world’s confidence in the growth of world economy.
The G20 Summit in Hangzhou attempted to transform the crisis countermeasures of the G20 mechanism to a long-term governance mechanism, consolidating the position of G20 as the primary platform for global economic governance. By doing that, the G20 Group makes great contributions to the correct path of global economic characterized as strong, sustainable, balanced and inclusive. In the informal meeting of all 5 BRICS nations in Hangzhou, President Xi Jinping suggested that the BRICS nations optimize the mechanism of global government with joint efforts, actively promote the structural reform in the governance of the International Monetary Fund and the World Bank, and expand the representativeness and the right to speak for the emerging markets and developing economies.
“From the G20 Summit in Hangzhou to the 8th BRICS Summit in Goa, the BRICS nations are taking even faster paces in their participation of global governance,” said Varun Sahni, Vice
Chancellor of Goa University, to the reporter of People’s Daily, “the large group of developing economies are eager to find a better platform on which they can make their own voices heard. The two summits give very high priority to inclusiveness and development. The inclusiveness, for me, is represented not only by the number of participants, but also by the diversity and representativeness. It is fair to say that the BRICS nations are building a broader platform of international communications for a great number of developing economies.”
Walking out of the Goa International Airport, people were immediately impressed by the large-volume posters in celebration of the Goa Summit. On one of the posters are the paramount leaders of the 5 BRICS nations who attend the summit, and the background is the landmark architectures of the 5 nations. “Welcome!” The safety inspectors at the news center greeted every guest with simple but warm Chinese words, and the reporters from all over the world were immediately touched by the warmth of Goa. The safety inspectors kindly warned the reporters to put their passports in their own bags so that they won’t be stolen. In recent few days, we are submerged in the care and consideration in New Delhi and Goa, and are convinced that the local residents are truly caring and preserving the cooperation of the BRICS nations.
We are ready to celebrate the 10th anniversary of the founding of the BRICS mechanism. In the past 10 years, the BRICS nations are keeping on expanding the scope of cooperation, and have already achieved substantial achievements. The 5 BRICS nations generally maintain a fast and strong momentum of economic growth, contributing to 50% of the global economic growth. In 2015, the economic aggregates of 5 BRICS nations amounted to 17 trillion U.S. dollars, accounting for 23% of the global economy. As President Xi Jinping recently stressed in the informal meeting of leaders from 5 BRICS nations in Hangzhou: the BRICS nations are seen as
the alpha dogs among the emerging markets and developing economies worldwide, and they also serve as crucial members of the G20 Group.
“As the Chinese proverb says, ‘true blue will never stain’. The BRICS nations will surely sparkle with even greater splendor after a strenuous path amid twists and turns, and will make significant contributions to the recovery and growth of world economy,” said Makshna, a research fellow of ICRIER (Indian Council for Research on International Economic Relations), in a recent interview with People’s Daily, “the temporary difficulties at the current stage cannot halt the paces of the BRICS nations, and the gold content of BRICS won’t fall. I believe that the forthcoming BRICS Summit in Goa will surely boost the confidence of the international community.”
Varun Sahni is impressed by the cooperation of the BRICS nations in the last decade. “I still remember the day when the idea of the New Development Bank of BRICS was brought out for the first time, and the day when the first loan of the bank was approved. The world could not help marveling at the efficiency of the BRICS mechanism. We are convinced that the prospect of the BRICS nations is bright so long as they find the common appeal points,” Varun Sahni said, “China has been playing a vital role in strengthening the cooperation of the BRICS nations. China proposes the ideas of development of sharing and inclusiveness, which are consistent with the practical need of most developing economies. The successes China has achieved in social development in last 3 decades attest the fact that China’s experiences of reform and opening-up.”
China will resume the rotating presidency of the BRICS nations and host the 9th BRICS Summit in next year. Now the preparatory works are already on the way. China expects to make
good use of the summit tomorrow and to contribute more “Chinese plan” and “Chinese wisdom” to the progress of BRICS cooperation. By maintaining the current momentum of cooperation, and consolidating the foundations with other BRICS members, China is looking forward to even more glorious decade on the road ahead.
“I expect a lot from China’s role as the rotating presidency, with which China will contribute more ideas and actions to the cooperation of BRICS nations, and bring the cooperation level one step forward,” said Mr. Onkar Singh Kanwar, Chairman of the BRICS Business Council, to the reporter of People’s Daily, “China is playing a crucial role of promoting the economic cooperation of the BRICS nations, and it is of vital significance for the partners of BRICS that President Xi attends the summit in Goa in person.”
It is already an irreversible trend that the BRICS cooperation goes deeper, and people do expect even deeper and stronger cooperation of the BRICS nations. Gao Xing, Director of the BRICS Institute in India, said in a recent interview with People’s Daily that it is not hard to imagine that BRICS cooperation will embrace brand new development opportunities in the next year, as the BRICS Summit will be held in China again.