Information Bulletin of the BRICS Trade Union Forum
Issue 37.2017
2017.09.04 — 2017.09.10
International relations
Foreign policy in the context of BRICS
Egypt and BRICS (Египет и БРИКС) / Egypt, September, 2017
Keywords: BRICS_Egypt, China_Egypt
2017-09-05
2017-09-05
Egypt
Source: weekly.ahram.org.eg
Egypt attended the meetings of the BRICS Summit with other promising emerging countries on the sidelines of the global gathering in China between 3-5 September. It is a key step in connecting with the five-country bloc that includes Brazil, Russia, India, China and South Africa, whose economies have grown remarkably over the past decade. Today, they are responsible for 50 per cent of global growth and their combined GDP is $17 trillion, while the capital of the group's bank in Shanghai is $100 billion and bloc members own 23 per cent of the global economy. Egypt's participation, after positive economic accomplishments in recent years that improved global predictions about the country's economy, must be reflected in investments and trade between Egyptian and BRICS members, as well as the world, in the coming phase.
BRICS countries are also home to 42 per cent of the world's population and seek to achieve economic, political and geopolitical integration among themselves, develop infrastructure and create an effective apparatus for cooperation during economic crises. Also, to find a way to grant and exchange loans with BRICS without economic impacts or instability in any of the member states. They also seek more favourable credit terms for Third World and developing countries, internationalising local currencies and trading amongst themselves using local currencies. China invited five countries, Mexico, Tajikistan, Thailand, Guinea and Egypt to the BRICS Summit for the first time in the bloc's history.
The participation of President Abdel-Fattah Al-Sisi in the dialogue between emerging and advanced markets is akin to participating in a crucial global dialogue at a time when the global community is encouraging Egypt to attract foreign investment. The outlook of the political administration in Egypt includes pivoting economically towards Asia and Africa. Some of the world's largest economies are found in Asia, such as China that today rivals the US as the largest economy in the world.
Egypt-China business and trade circles estimate Egypt's share in the Belt and Road Initiative (BRI) for countries through which the Silk Road passes at $40 billion, since the road is a trade artery connecting Asia, Africa and Europe. Al-Sisi's talks at the BRICS Summit primarily focused on encouraging Chinese companies and other BRICS members to increase cooperation in all fields, while keeping in mind the participation of Chinese companies in many ongoing infrastructure projects in Egypt, including the new administrative capital, as well as key contributions in electricity, energy development and transportation projects. Egyptian-Chinese relations have gained momentum in recent year, crowned by signing the Comprehensive Strategic Partnership Agreement in December 2014, and the Executive Programme to boost relations in the Comprehensive Strategic Partnership between 2016-2021.
BRICS members oppose protectionism and agree on maintaining a multilateral trade order. Protectionism is an economic policy limiting trade between countries by raising tariffs and capping imports, restrictive quotas and other constricting government regulations to slash imports and prevent foreigners from seizing local markets and companies. BRICS encourages other countries to do the same as well as to join the WTO, while urging the organisation to be more committed to less developed countries.
BRICS believes maintaining a multilateral world trade order and opposing protectionism serves the common interests of emerging and developing economies.
Source: weekly.ahram.org.eg
Egypt attended the meetings of the BRICS Summit with other promising emerging countries on the sidelines of the global gathering in China between 3-5 September. It is a key step in connecting with the five-country bloc that includes Brazil, Russia, India, China and South Africa, whose economies have grown remarkably over the past decade. Today, they are responsible for 50 per cent of global growth and their combined GDP is $17 trillion, while the capital of the group's bank in Shanghai is $100 billion and bloc members own 23 per cent of the global economy. Egypt's participation, after positive economic accomplishments in recent years that improved global predictions about the country's economy, must be reflected in investments and trade between Egyptian and BRICS members, as well as the world, in the coming phase.
BRICS countries are also home to 42 per cent of the world's population and seek to achieve economic, political and geopolitical integration among themselves, develop infrastructure and create an effective apparatus for cooperation during economic crises. Also, to find a way to grant and exchange loans with BRICS without economic impacts or instability in any of the member states. They also seek more favourable credit terms for Third World and developing countries, internationalising local currencies and trading amongst themselves using local currencies. China invited five countries, Mexico, Tajikistan, Thailand, Guinea and Egypt to the BRICS Summit for the first time in the bloc's history.
The participation of President Abdel-Fattah Al-Sisi in the dialogue between emerging and advanced markets is akin to participating in a crucial global dialogue at a time when the global community is encouraging Egypt to attract foreign investment. The outlook of the political administration in Egypt includes pivoting economically towards Asia and Africa. Some of the world's largest economies are found in Asia, such as China that today rivals the US as the largest economy in the world.
Egypt-China business and trade circles estimate Egypt's share in the Belt and Road Initiative (BRI) for countries through which the Silk Road passes at $40 billion, since the road is a trade artery connecting Asia, Africa and Europe. Al-Sisi's talks at the BRICS Summit primarily focused on encouraging Chinese companies and other BRICS members to increase cooperation in all fields, while keeping in mind the participation of Chinese companies in many ongoing infrastructure projects in Egypt, including the new administrative capital, as well as key contributions in electricity, energy development and transportation projects. Egyptian-Chinese relations have gained momentum in recent year, crowned by signing the Comprehensive Strategic Partnership Agreement in December 2014, and the Executive Programme to boost relations in the Comprehensive Strategic Partnership between 2016-2021.
BRICS members oppose protectionism and agree on maintaining a multilateral trade order. Protectionism is an economic policy limiting trade between countries by raising tariffs and capping imports, restrictive quotas and other constricting government regulations to slash imports and prevent foreigners from seizing local markets and companies. BRICS encourages other countries to do the same as well as to join the WTO, while urging the organisation to be more committed to less developed countries.
BRICS believes maintaining a multilateral world trade order and opposing protectionism serves the common interests of emerging and developing economies.
BRICS nations stride on for second 'golden decade' of cooperation (Страны БРИКС шагают во второе «золотое десятилетие» сотрудничества) / China, September, 2017
Keywords: Xiamen_summit, expert_opinion
2017-09-07
2017-09-07
China
Author: Rabi Sankar Bosu
Source: www.chinadaily.com.cn
On Sept 5,the emerging-market bloc of BRICS concluded their 9th annual summit hosted by the beautiful city of Xiamen in southeast China's Fujian Province. Running from Sept 3 to 5 under the theme of "BRICS: Stronger Partnership for a Brighter Future," the summit saw the signing of a joint declaration on Sept 4, four cooperation agreements and Memorandums of Understanding (MoUs). Accepting the mantle of the revolving BRICS presidency from India on Jan 1, China hosted the BRICS summit for the second time, after the 2011 summit in Sanya, Hainan.
This year marks the 10th anniversary of the BRICS association, comprised of five major emerging economies — namely Brazil, Russia, India, China and South Africa — with the aim of using its growing economic and political influence to challenge Western hegemony. The BRICS countries are home to more than two-fifths of the world's population with a combined gross domestic product of over US$16 trillion. Through ten years' development, the BRICS countries have become a new force in the world economy. The group upholds people's hope for stronger partnerships within and beyond the five BRICS countries.
Looking to the second "golden decade", the BRICS leaders stressed their resolve to act jointly for development in the Xiamen Declaration.
Enhancing BRICS cooperation
The Xiamen Declaration reviewed achievements made over the past 10 years, recalling increased development and multilateralism fostered by previous summits in Goa in India and Ufa in Russia, especially the fruitful progress of the New Development Bank (NDB) and the initiation of the BRICS Contingent Reserve Arrangement (CRA), institutions that have ensured greater cooperation among BRICS countries.
Leaders of BRICS countries praised the achievements of the BRICS Business Council and the NDB. Officially opened in 2015, the Shanghai-headquartered bank has made headway on many projects, with the recent opening of its African regional center, the continuing work on its headquarters and overall progress in business operations. The council has also entered into an MoU with the NDB.
According to NDB President K.V. Kamath, the bank will expand its loan operations to the private sector next year. The NDB approved loans totaling $1.55 billion last year to seven programs for sustainable development and is expected to offer loans of $2.5 billion this year.
It is worth mentioning that China will offer 500 million yuan ($76.4 million) for a BRICS economic and technology cooperation plan, and another $4 million for projects at the NDB.
National Currencies
According to the declaration, leaders agreed to establish a bond fund in national currencies in order to contribute to capital sustainability in BRICS member states. They have also agreed to increase the use of national currencies, including in direct investment.
"We agree to promote the development of BRICS Local Currency Bond Markets and jointly establish a BRICS Local Currency Bond Fund, as a means of contribution to the capital sustainability of financing in BRICS countries, boosting the development of BRICS domestic and regional bond markets, including by increasing foreign private sector participation, and enhancing financial resilience of BRICS countries," the declaration's text read.
Boosting cooperation in other fields
The five nations also agreed to further boost cooperation in the fields of insurance and reinsurance, taxation reform, customs, and to explore the possibility of setting up a BRICS rating agency based on independent, market-oriented principles.
Sticking to economic cooperation
Addressing the opening ceremony of the BRICS Business Forum on Sept 3, President Xi Jinping said, "Economic cooperation is the foundation of the BRICS mechanism." BRICS countries adopted Xi's views on economic cooperation in the joint declaration. Indeed, the five emerging economies have been the lodestar of world growth amid an increasingly austere economic environment.
Despite being confronted by global uncertainties, partially due to the policies of US President Donald Trump, Britain's divorce from the European Union and the ensuing economic downturn, the five countries have made remarkable progress in the past 10 years. BRICS countries' share in the global economy has increased from 12 percent ten years ago to 23 percent in 2016.
The BRICS leaders vowed to confront challenges to seek common development. Xi said that BRICS countries should work to let their economic cooperation have more substance. He proposed that the BRICS countries should advance structural reforms, innovate growth patterns and build up an open economy.
Opposing protectionism
BRICS countries have proved to have a leading role for global economic growth as well as a higher prestige in the world economy. With this newfound standing, BRICS leaders reaffirmed that they remained committed to an open and inclusive world economy and firmly opposed protectionism.
"We will continue to firmly oppose protectionism. We recommit to our existing pledge for both standstill and rollback of protectionist measures and we call upon other countries to join us in that commitment," the Xiamen Declaration reads.
It should be noted here that in January, as a keynote speaker at the World Economic Forum in Davos, Switzerland, Xi offered a vigorous defence of globalization, and in July he again called on members of the G-20 nations to champion an open world economy.
Facing challenges together
Besides economic issues, the BRICS nations also expounded their stances on international and regional issues of common concern, focusing on terrorism, the liberation of Mosul and the Israeli-Palestinian conflict.
According to the Xiamen Declaration, BRICS leaders condemned terrorism in all forms and said those "committing, organising or supporting" such acts must be held accountable. There are 17 references to terrorism in the 43-page Xiamen declaration.
"We reaffirm that those responsible for committing, organizing, or supporting terrorist acts must be held accountable," it said.
This is the first time the leaders of the BRICS member states included Lashkar-e-Taiba and Jaish-e-Mohammed with global terror groups Islamic State and al-Qaeda.
Paragraph 48 of the declaration explicitly said, "We...express concern on the security situation in the region and violence caused by the Taliban, ISIL/DAISH, Al-Qaida and its affiliates including Eastern Turkistan Islamic Movement, Islamic Movement of Uzbekistan, the Haqqani Network, Laskar-e-Taiba, Jaish-e-Mohammad, TTP and Hizb-ut-Tahrir."
The BRICS grouping has strongly condemned deadly terrorist acts in Afghanistan and called for an immediate end to violence.
In the declaration, the leaders stressed that the fight against terrorism must be conducted in accordance with international law.
Concern over the Yemen situation
BRICS leaders also expressed their concern over the crisis in Yemen and called on all parties to cease hostilities and engage in UN-supported settlement negotiations.
Settling the Syrian crisis
The BRICS leaders called for reaching a permanent settlement to the Syrian crisis, stressing that a comprehensive political process is the only solution that will allow Syrians to preserve the sovereignty and independence of their country.
Solving the Israel-Palestine conflict
In the Xiamen Declaration, the BRICS leaders expressed their readiness to offer support to solve the Israeli-Palestinian conflict so as to find a fair and permanent solution to the conflict in the Middle East.
"We reiterate the urgent need for a just, lasting and comprehensive solution of the Israeli-Palestinian conflict in order to achieve peace and stability in the Middle East on the basis of relevant United Nations resolutions, the Madrid Principles, the Arab Peace Initiative and previous agreements between the parties through negotiations with a view to creating an independent, viable, territorially contiguous Palestinian State living side by side in peace and security with Israel," the joint declaration read.
Stronger partnership, brighter future
The three-day BRICS jamboree ended on Sept 5, reaching consensus on the international situation, global governance and cooperation among the five countries. Next year, South Africa will host the 10th BRICS summit. Undoubtedly, this year's summit deepens South-South cooperation. The gathering fostered the "BRICS Plus" pattern and built extensive partnerships as Xi pointed out. "The summit adopted the BRICS Leaders Xiamen Declaration which reaffirmed the BRICS spirit of openness, inclusiveness and win-win cooperation, and mapped out a new blueprint for strengthening BRICS partnership and deepening practical cooperation in various areas," he said.
Let us hope the BRICS countries of the jaguar (Brazil), the bear (Russia), the elephant (India), the dragon (China) and the springbok (South Africa) will continue to work together in forging a new partnership that is fair, open, and innovative to benefit the welfare of humankind.
Rabi Sankar Bosu is secretary of New Horizon Radio Listeners' Club in West Bengal, India.
Author: Rabi Sankar Bosu
Source: www.chinadaily.com.cn
On Sept 5,the emerging-market bloc of BRICS concluded their 9th annual summit hosted by the beautiful city of Xiamen in southeast China's Fujian Province. Running from Sept 3 to 5 under the theme of "BRICS: Stronger Partnership for a Brighter Future," the summit saw the signing of a joint declaration on Sept 4, four cooperation agreements and Memorandums of Understanding (MoUs). Accepting the mantle of the revolving BRICS presidency from India on Jan 1, China hosted the BRICS summit for the second time, after the 2011 summit in Sanya, Hainan.
This year marks the 10th anniversary of the BRICS association, comprised of five major emerging economies — namely Brazil, Russia, India, China and South Africa — with the aim of using its growing economic and political influence to challenge Western hegemony. The BRICS countries are home to more than two-fifths of the world's population with a combined gross domestic product of over US$16 trillion. Through ten years' development, the BRICS countries have become a new force in the world economy. The group upholds people's hope for stronger partnerships within and beyond the five BRICS countries.
Looking to the second "golden decade", the BRICS leaders stressed their resolve to act jointly for development in the Xiamen Declaration.
Enhancing BRICS cooperation
The Xiamen Declaration reviewed achievements made over the past 10 years, recalling increased development and multilateralism fostered by previous summits in Goa in India and Ufa in Russia, especially the fruitful progress of the New Development Bank (NDB) and the initiation of the BRICS Contingent Reserve Arrangement (CRA), institutions that have ensured greater cooperation among BRICS countries.
Leaders of BRICS countries praised the achievements of the BRICS Business Council and the NDB. Officially opened in 2015, the Shanghai-headquartered bank has made headway on many projects, with the recent opening of its African regional center, the continuing work on its headquarters and overall progress in business operations. The council has also entered into an MoU with the NDB.
According to NDB President K.V. Kamath, the bank will expand its loan operations to the private sector next year. The NDB approved loans totaling $1.55 billion last year to seven programs for sustainable development and is expected to offer loans of $2.5 billion this year.
It is worth mentioning that China will offer 500 million yuan ($76.4 million) for a BRICS economic and technology cooperation plan, and another $4 million for projects at the NDB.
National Currencies
According to the declaration, leaders agreed to establish a bond fund in national currencies in order to contribute to capital sustainability in BRICS member states. They have also agreed to increase the use of national currencies, including in direct investment.
"We agree to promote the development of BRICS Local Currency Bond Markets and jointly establish a BRICS Local Currency Bond Fund, as a means of contribution to the capital sustainability of financing in BRICS countries, boosting the development of BRICS domestic and regional bond markets, including by increasing foreign private sector participation, and enhancing financial resilience of BRICS countries," the declaration's text read.
Boosting cooperation in other fields
The five nations also agreed to further boost cooperation in the fields of insurance and reinsurance, taxation reform, customs, and to explore the possibility of setting up a BRICS rating agency based on independent, market-oriented principles.
Sticking to economic cooperation
Addressing the opening ceremony of the BRICS Business Forum on Sept 3, President Xi Jinping said, "Economic cooperation is the foundation of the BRICS mechanism." BRICS countries adopted Xi's views on economic cooperation in the joint declaration. Indeed, the five emerging economies have been the lodestar of world growth amid an increasingly austere economic environment.
Despite being confronted by global uncertainties, partially due to the policies of US President Donald Trump, Britain's divorce from the European Union and the ensuing economic downturn, the five countries have made remarkable progress in the past 10 years. BRICS countries' share in the global economy has increased from 12 percent ten years ago to 23 percent in 2016.
The BRICS leaders vowed to confront challenges to seek common development. Xi said that BRICS countries should work to let their economic cooperation have more substance. He proposed that the BRICS countries should advance structural reforms, innovate growth patterns and build up an open economy.
Opposing protectionism
BRICS countries have proved to have a leading role for global economic growth as well as a higher prestige in the world economy. With this newfound standing, BRICS leaders reaffirmed that they remained committed to an open and inclusive world economy and firmly opposed protectionism.
"We will continue to firmly oppose protectionism. We recommit to our existing pledge for both standstill and rollback of protectionist measures and we call upon other countries to join us in that commitment," the Xiamen Declaration reads.
It should be noted here that in January, as a keynote speaker at the World Economic Forum in Davos, Switzerland, Xi offered a vigorous defence of globalization, and in July he again called on members of the G-20 nations to champion an open world economy.
Facing challenges together
Besides economic issues, the BRICS nations also expounded their stances on international and regional issues of common concern, focusing on terrorism, the liberation of Mosul and the Israeli-Palestinian conflict.
According to the Xiamen Declaration, BRICS leaders condemned terrorism in all forms and said those "committing, organising or supporting" such acts must be held accountable. There are 17 references to terrorism in the 43-page Xiamen declaration.
"We reaffirm that those responsible for committing, organizing, or supporting terrorist acts must be held accountable," it said.
This is the first time the leaders of the BRICS member states included Lashkar-e-Taiba and Jaish-e-Mohammed with global terror groups Islamic State and al-Qaeda.
Paragraph 48 of the declaration explicitly said, "We...express concern on the security situation in the region and violence caused by the Taliban, ISIL/DAISH, Al-Qaida and its affiliates including Eastern Turkistan Islamic Movement, Islamic Movement of Uzbekistan, the Haqqani Network, Laskar-e-Taiba, Jaish-e-Mohammad, TTP and Hizb-ut-Tahrir."
The BRICS grouping has strongly condemned deadly terrorist acts in Afghanistan and called for an immediate end to violence.
In the declaration, the leaders stressed that the fight against terrorism must be conducted in accordance with international law.
Concern over the Yemen situation
BRICS leaders also expressed their concern over the crisis in Yemen and called on all parties to cease hostilities and engage in UN-supported settlement negotiations.
Settling the Syrian crisis
The BRICS leaders called for reaching a permanent settlement to the Syrian crisis, stressing that a comprehensive political process is the only solution that will allow Syrians to preserve the sovereignty and independence of their country.
Solving the Israel-Palestine conflict
In the Xiamen Declaration, the BRICS leaders expressed their readiness to offer support to solve the Israeli-Palestinian conflict so as to find a fair and permanent solution to the conflict in the Middle East.
"We reiterate the urgent need for a just, lasting and comprehensive solution of the Israeli-Palestinian conflict in order to achieve peace and stability in the Middle East on the basis of relevant United Nations resolutions, the Madrid Principles, the Arab Peace Initiative and previous agreements between the parties through negotiations with a view to creating an independent, viable, territorially contiguous Palestinian State living side by side in peace and security with Israel," the joint declaration read.
Stronger partnership, brighter future
The three-day BRICS jamboree ended on Sept 5, reaching consensus on the international situation, global governance and cooperation among the five countries. Next year, South Africa will host the 10th BRICS summit. Undoubtedly, this year's summit deepens South-South cooperation. The gathering fostered the "BRICS Plus" pattern and built extensive partnerships as Xi pointed out. "The summit adopted the BRICS Leaders Xiamen Declaration which reaffirmed the BRICS spirit of openness, inclusiveness and win-win cooperation, and mapped out a new blueprint for strengthening BRICS partnership and deepening practical cooperation in various areas," he said.
Let us hope the BRICS countries of the jaguar (Brazil), the bear (Russia), the elephant (India), the dragon (China) and the springbok (South Africa) will continue to work together in forging a new partnership that is fair, open, and innovative to benefit the welfare of humankind.
Rabi Sankar Bosu is secretary of New Horizon Radio Listeners' Club in West Bengal, India.
Modi suggests 10 'noble commitments' for global transformation (Моди предлагает 10 «благородных обязательств» для глобальной трансформации) / India, September, 2017
Keywords: Narendra_Modi, Xiamen_Summit
2017-09-05
2017-09-05
India
Source: www.thehindu.com
Prime Minister Narendra Modi on Tuesday again raised the issue of terrorism at a BRICS forum here while suggesting 10 commitments to be made by the five-member bloc for their role in global transformation.
Modi made the remarks at the Dialogue of Emerging Markets and Developing Countries in the course of the 9th BRICS (Brazil, Russia, India, China, South Africa) Summit here a day after thebloc named Pakistan-based terror groupsincluding the Lashkar-e-Taiba and Jaish-e-Mohammad in its joint declaration.
Suggesting the 10 commitments, he said:
* "Creating a safer world by organised and coordinated action on at least three issues: counter-terrorism, cyber security and disaster management." He also said that the bedrock of India's development agenda laid in the notion of "sabka saath, sabka vikaas" (collective effort, inclusive growth). Stating that India has mapped each of the UN's 17 Sustainable Development Goals (SDGs) to its own development programmes and scheme, he said: "Our programmes are geared to accomplish these priority goals in a time-bound manner.
"To cite just one example, our three-pronged approach of providing a bank account to the unbanked, providing a biometric identity to all, and using innovative mobile governance solutions, has enabled direct benefit transfers to almost 360 million people for the first time."
* The Prime Minister called for creating a greener world by taking concerted action on countering climate change, through initiatives such as the India-initiated International Solar Alliance.
* Another suggestion was for creating an enabled world by sharing and deploying suitable technologies to enhance efficiency, economy and effectiveness.
* Reiterating his vision for a digital economic and financial system, Mr. Modi called for creating an inclusive world "by economic mainstreaming of our people including in the banking and financial system".
* "Creating a digital world by bridging the digital divide within and outside our economies.
* "Creating a skilled world by giving future-ready skills to millions of our youth."
* Mr.Modi also called for creating a healthier world by cooperating in research and development to eradicate diseases, and enabling affordable health care for all.
* In creating an equitable world, he said the BRICS nations should provide equality of opportunity to all, particularly through gender equality.
* In terms of a connected world, he suggested enabling of free flow of goods, persons and services.
* He also called for creating a harmonious world "by promoting ideologies, practices, and heritage that are centred on peaceful coexistence and living in harmony with nature".
"Through these agenda points, and action on them, we will be contributing directly to the welfare of the global community in addition to welfare of our own people.
"And in this, India stands ready as a willing and committed partner to enhance cooperation and support each other's national efforts," Mr. Modi added.
Modi, Xi discuss border issue
Prime Minsiter Narendra Modi and Chinese President Xi Jinping on Tuesday discussed their border row, a week after the resolution of thetwo-month-long military stand-off at Doklam.
Source: www.thehindu.com
Prime Minister Narendra Modi on Tuesday again raised the issue of terrorism at a BRICS forum here while suggesting 10 commitments to be made by the five-member bloc for their role in global transformation.
Modi made the remarks at the Dialogue of Emerging Markets and Developing Countries in the course of the 9th BRICS (Brazil, Russia, India, China, South Africa) Summit here a day after thebloc named Pakistan-based terror groupsincluding the Lashkar-e-Taiba and Jaish-e-Mohammad in its joint declaration.
Suggesting the 10 commitments, he said:
* "Creating a safer world by organised and coordinated action on at least three issues: counter-terrorism, cyber security and disaster management." He also said that the bedrock of India's development agenda laid in the notion of "sabka saath, sabka vikaas" (collective effort, inclusive growth). Stating that India has mapped each of the UN's 17 Sustainable Development Goals (SDGs) to its own development programmes and scheme, he said: "Our programmes are geared to accomplish these priority goals in a time-bound manner.
"To cite just one example, our three-pronged approach of providing a bank account to the unbanked, providing a biometric identity to all, and using innovative mobile governance solutions, has enabled direct benefit transfers to almost 360 million people for the first time."
* The Prime Minister called for creating a greener world by taking concerted action on countering climate change, through initiatives such as the India-initiated International Solar Alliance.
* Another suggestion was for creating an enabled world by sharing and deploying suitable technologies to enhance efficiency, economy and effectiveness.
* Reiterating his vision for a digital economic and financial system, Mr. Modi called for creating an inclusive world "by economic mainstreaming of our people including in the banking and financial system".
* "Creating a digital world by bridging the digital divide within and outside our economies.
* "Creating a skilled world by giving future-ready skills to millions of our youth."
* Mr.Modi also called for creating a healthier world by cooperating in research and development to eradicate diseases, and enabling affordable health care for all.
* In creating an equitable world, he said the BRICS nations should provide equality of opportunity to all, particularly through gender equality.
* In terms of a connected world, he suggested enabling of free flow of goods, persons and services.
* He also called for creating a harmonious world "by promoting ideologies, practices, and heritage that are centred on peaceful coexistence and living in harmony with nature".
"Through these agenda points, and action on them, we will be contributing directly to the welfare of the global community in addition to welfare of our own people.
"And in this, India stands ready as a willing and committed partner to enhance cooperation and support each other's national efforts," Mr. Modi added.
Modi, Xi discuss border issue
Prime Minsiter Narendra Modi and Chinese President Xi Jinping on Tuesday discussed their border row, a week after the resolution of thetwo-month-long military stand-off at Doklam.
PM addresses 9th BRICS Business Council Summit in Xiamen (Премьер-министр выступил на 9-ом саммите Бизнес Совета БРИКС в Сямэне) / India, September, 2017
Keywords: Narendra_Modi, BRICS_Business_Council, speech, high_level_meeting
2017-09-04
2017-09-04
India
Source: www.narendramodi.in
Your Excellencies,
President of the New Development Bank
Members of the BRICS Business Council
I am pleased to participate in this meeting with the BRICS Business Council. The work you do in the Business Council plays a vital role in giving practical shape to the vision of BRICS partnership. The partnerships you have forged and the networks you have created are energizing the economic growth stories in each BRICS country. At this meeting last year in Goa, there was a suggestion on closer cooperation between the NDB and BRICS Business Council. I am happy to note that you are entering into an MOU with the NDB.
Excellencies and Friends,
India is changing fast into one of the most open economies in the world today. Foreign Direct Investment inflows are at an all-time high, rising by 40 per cent. India has moved up in the World Bank Index of Ease of Doing Business. Similarly, we have moved up 32 spots in last two years in the Global Competitiveness Index. The Goods and Services Tax that was introduced in July is India's biggest economic reform measure ever. In one stroke, a unified market of 1.3 billion people has been created. Programmes like Digital India, Start Up India and Make in India are changing the economic landscape of the country. They are assisting India turn into a knowledge based, skill supported and technology driven society.
Excellencies and Friends,
I am happy to note that the BRICS Business Council also has matching priorities of trade & investment facilitation, promoting skills development, infrastructure development, SME Development, e-commerce and digital economy. Many productive recommendations have come out of your deliberations. Your work towards establishment of a BRICS Rating Agency, energy cooperation, green finance, and digital economy is particularly noteworthy. Let me conclude by saying that as Governments, we will offer full support to your endeavours. And we also count on the BRICS Business Council to take us closer to our common objective of improving business and investment cooperation.
Source: www.narendramodi.in
Your Excellencies,
President of the New Development Bank
Members of the BRICS Business Council
I am pleased to participate in this meeting with the BRICS Business Council. The work you do in the Business Council plays a vital role in giving practical shape to the vision of BRICS partnership. The partnerships you have forged and the networks you have created are energizing the economic growth stories in each BRICS country. At this meeting last year in Goa, there was a suggestion on closer cooperation between the NDB and BRICS Business Council. I am happy to note that you are entering into an MOU with the NDB.
Excellencies and Friends,
India is changing fast into one of the most open economies in the world today. Foreign Direct Investment inflows are at an all-time high, rising by 40 per cent. India has moved up in the World Bank Index of Ease of Doing Business. Similarly, we have moved up 32 spots in last two years in the Global Competitiveness Index. The Goods and Services Tax that was introduced in July is India's biggest economic reform measure ever. In one stroke, a unified market of 1.3 billion people has been created. Programmes like Digital India, Start Up India and Make in India are changing the economic landscape of the country. They are assisting India turn into a knowledge based, skill supported and technology driven society.
Excellencies and Friends,
I am happy to note that the BRICS Business Council also has matching priorities of trade & investment facilitation, promoting skills development, infrastructure development, SME Development, e-commerce and digital economy. Many productive recommendations have come out of your deliberations. Your work towards establishment of a BRICS Rating Agency, energy cooperation, green finance, and digital economy is particularly noteworthy. Let me conclude by saying that as Governments, we will offer full support to your endeavours. And we also count on the BRICS Business Council to take us closer to our common objective of improving business and investment cooperation.
China's success can provide positive signal (Успех Китая может обеспечить положительный сигнал) / China, September, 2017
Keywords: expert_opinion
2017-09-04
2017-09-04
China
Source: www.chinadaily.com.cn
Economist who coined 'BRIC' acronym stresses importance of common policies with a shared interest
Editor's note: Ahead of the BRICS Summit, China Daily interviewed some experts who gave their views on the role and development of the emerging markets' group.
Economist Jim O'Neill, who created the "BRIC" acronym, said China primarily remains the most important economy in the world, leading the economic growth in the five BRICS countries to contribute more than 20 percent of the world's GDP.
"Even though its growth rates have fallen to around 6.5 to 7 percent, in nominal dollar terms, China is still adding the equivalent of a whole new Switzerland or Turkey every year to the world," O'Neill said in an interview with China Daily ahead of the summit of the group. "Or a new UK economy every three years."
It was the former Goldman Sachs chief economist who coined the term in 2001, grouping together four states - China, Brazil, Russia and India - as potential growth powerhouses of the future. Now the group also includes South Africa.
China's economy continued its steady expansion in the first half of the year, with GDP up by 6.9 percent to about 38.2 trillion yuan ($5.6 trillion), according to the National Bureau of Statistics.
O'Neill said China's development can be an example to other developing countries, especially in the area of attracting foreign direct investment.
"Most of the world's largest companies have played an important role in helping China's development, and it is to the government's credit," he said. "Other BRICS countries should take note."
O'Neill said Brazil's and Russia's emergence from recession is another key contributor to the global economy staying strong in 2017.
The recovery of these two, along with the eurozone, is probably the main reason why growth is stronger than for many years, said O'Neill, who forecasts global GDP growth in the first half of this year close to 4 percent.
He encourages China, Brazil, Russia and India to move beyond symbolism and agree on some common policies with a shared interest.
Although he said the BRICS group is less likely to achieve anything alone in terms of world governance due to the exclusion of the world's most important advanced countries, the former UK Treasury minister sees disease prevention as one potential area in which BRICS countries could take a collective position.
"I strongly encourage the BRICS leaders to be bolder in this area," O'Neill said. "It is surprising to me that they have not gone down this path. But if they did, it would be impressive and send a very large positive signal."
O'Neill, however, concedes it is not easy for the BRICS countries to coordinate between themselves to achieve stronger collective growth without ambitious plans for a free trade zone with no tariffs.
Economist Jim O'Neill says other developing countries should learn from China.
1 Starting in 2006, BRICS has entered a new era where protectionism seems to be wielding an increasingly strong influence in the global economy. What can BRICS do to help make the global economy more open and inclusive?
2 Made up of five emerging economies that contribute more than 20 percent of the world's GDP, what is BRICS' role in helping the global economy recover?
3 What can BRICS contribute to global governance to help make the international order more fair and the developing countries better represented?
4 The theme of the upcoming summit is "BRICS: Stronger Partnership for a Brighter Future". In what fields can BRICS members strengthen their partnership, and how?
5 China is upgrading its economy into an innovation-and-efficiency-driven one. It is also working with other countries to develop the Belt and Road Initiative. What lessons do you think other developing countries can learn from China's development?
Christopher Bovis, professor of international business law, University of Hull, UK
1 Protectionism in international trade must be avoided. BRICS can positively influence the introduction of an international regulatory trade system which could strike a meaningful and workable balance between free trade and national concerns in order to alleviate the dangers of protectionism. The WTO is ready for meaningful reform and, if it is to continue as a fit-for-purpose international trade instrument, it must change in a positive manner to accommodate the dynamics of the world in the 21st century. BRICS can influence the reform of the WTO.
2 The recovery of the global economy requires a collective and coordinated approach to address industrial policies at national and regional levels. BRICS can play an instrumental role in instigating a responsive and responsible political and economic leadership. BRICS can help global recovery by instigating contemporary industrial policies which will aim at creating framework conditions under which improvement of national or regional competitiveness would compensate, where necessary, for market failure. Free trade and the aftermath of globalization generates positive externalities on the economy as a whole, increasing the growth potential and vibrancy of the economic fabric, fostering innovation and training as a result of increased demand for skills.
3 Under the auspices of a responsive and responsible political and economic leadership, BRICS should insist on the need to promote sustainable development. The focus of sustainable development should be the assessment of the traditional trade systems raised by developing countries for preferential treatment and the current concerns that such economies in the global trading environment may be vulnerable to marginalization and the problem of managing discrimination. The role of institutional actors such as the UN, the World Bank and the IMF in promoting economic development in developing countries needs to be reviewed.
4 The BRICS nations can strengthen their partnership by promoting the role of the private sector in catalyzing economic recovery and promoting growth. The private sector includes the finance industry, manufacturing industry and high-tech industry. The private sector can also play a pivotal role in delivering and managing infrastructure, assisting growth and sustainable economic performance.
5 We are currently witnessing the transition of Chinese investment strategy from traditional industries, energy and infrastructure, which have been served through sovereign funds, to services and high value interests which are served primarily through private capital. The modality of such transition is the role of private equity and of institutional investors. This appears to be one of the most prolific trends for the years to come and reveals the private sector influence on investment decisions and outcomes and also offers critical insights to developing countries.
Jon R. Taylor, professor of political science and director, Master of Public Policy and Administration Program, University of St. Thomas, Houston, Texas
1 The BRICS can help the global economy by leading by example, by taking a united stand against protectionism and by backing a multilateral trade system. The need to be aggressive in warning about the dangers of greater protectionism is particularly important in the aftermath of Brexit and the US presidential election. The growth of emerging countries, particularly the growth that we have seen in China, has clearly underscored the importance for growth to be both sustainable and inclusive.
2 The overall economic conditions of the developing world have improved dramatically, as exemplified by the BRICS - particularly China. China's role has been critical in both the global economic recovery and in championing the benefits of economic globalization. The BRICS role in the global economic recovery should aim at a political goal by supporting open markets and a philosophical goal of encouraging and enhancing South-South cooperation.
3 They can follow China's lead by pushing for win-win cooperation policies that are aimed at common development, maintaining open and accessible markets and trade, and policies that are aimed at poverty eradication and inclusive growth. Given that we appear to be at a potentially pivotal moment in the battle against global economic inequality, the BRICS can be champions of mutually beneficial cooperation. Thanks to close cooperation and coordination between China and the other BRICS nations, the BRICS contribute to safeguarding the interests of developing countries as a whole and improving the global governance system. China's "BRICS Plus" proposal shows promise by offering to build mutually beneficial bilateral and multilateral partnerships through dialogue and consensus.
4 Several issues immediately come to mind: income inequality, climate change, energy, trade, e-commerce cooperation, cybersecurity, anti-terrorism, and increasing people-to-people exchanges. What is needed is an emphasis on maintaining economic momentum. While China is doing its part, the other BRICS nations are facing economic and political challenges. They would do well to follow China's lead on economic stabilization and supply-side structural reforms.
5 Developing countries can draw the following from China's development experience: Start small, focus on structural reforms first, invest heavily in a knowledge-based infrastructure, encourage policy and political cohesion, emphasize inclusive development, promote policy experimentation, remove impediments to economic reform and promote financial and market stability.
Rajiv Biswas, Asia-Pacific chief economist, IHS Markit
1 Key examples of how BRICS nations can lead international trade and investment liberalization are China's active role in advancing the Regional Comprehensive Economic Partnership trade negotiations among 16 Asia-Pacific nations, as well as its strategic plan to boost economic cooperation through the Belt and Road Initiative. BRICS nations have also established the New Development Bank in 2014 to finance infrastructure development in developing countries worldwide. BRICS can champion new initiatives to boost South-South trade and investment flows.
2 The five BRICS nations currently account for approximately 23 percent of world GDP, making these nations an important part of the world economy. China, as the world's second-largest economy, has been the key driver for sustained global economic growth since the global financial crisis of 2008-2009, accounting for around 40 percent of the total increase in world GDP since 2009. The BRICS, led by China, have also been a key driver for growth in world trade and investment flows over the past decade.
3 Ever since the end of World War II, global governance has been dominated by the developed countries. However, the world has changed tremendously since 1945, with many former European colonies having become sovereign developing nations, while the world share of GDP contributed by developing countries has approximately doubled within the last two decades. Consequently the old global governance architecture is no longer relevant and the BRICS need to lead the initiative to create a fairer system of global governance by working together to change existing governance structures in international bodies, as well as to create new international standards-setting bodies that have a modern governance structure with much stronger voting rights for developing countries.
4 The BRICS need to further strengthen their joint initiatives for boosting international trade and economic development. The BRICS countries can act as a core group to build policy frameworks and technological cooperation for a wide range of global South-South development initiatives. One of the greatest challenges facing developing countries is global climate change and meeting the Paris climate change agreement commitments.
5 China's economic development since 1978 has been remarkable, lifting it within just one generation from a poor nation based on subsistence agriculture into the world's second-largest economy that has reached upper middle income status and has become an advanced industrial economy. The Belt and Road Initiative is a great strategic vision through which China is helping many developing countries in Asia, Africa and the Middle East to accelerate their economic development through improving infrastructure connectivity. Over the long-term, China's successful experience of rapid economic development will allow it to help other developing countries in many areas of development.
Sikhumbuzo Zondi, research assistant at the Institute for Global Dialogue associated with the University of South Africa
1 In a global economy that is facing uncertainties, BRICS countries, in collaboration with major economies, should enhance macroeconomic policy coordination and work together to avoid negative spillovers to emerging economies. In addition, the BRICS formation should stress the importance of upholding a more inclusive, stable and open world economy through the creation of an enabling environment for the development of emerging markets and developing countries. To achieve this, they need to encourage human resource development and increasing people-to-people relations, so that all countries and peoples can equally share the benefits of globalization.
2 BRICS countries have been responsible for many initiatives to assist global economic recovery by establishing the New Development Bank and the Contingent Reserve Arrangement, amongst others. It has enabled BRICS members to obtain funds for development, provided new financing channels for other developing countries and realized financial exchanges, such as currency swaps among BRICS members that expand the capacity of their economies and currencies to withstand the impact of global economic turbulence.
3 BRICS plays a strategic role as a pacesetter for developing countries. Unity and cooperation among BRICS members enhances the rights of developing countries to have a voice and meaningfully participate in global political and economic decision-making. BRICS has become a vital platform for major developing countries to conduct exchanges and dialogues in the spheres of politics, economics, finance, development and culture. In the process, the BRICS formation has established a framework for an inclusive, multilayered and all-round cooperation. Overall, leaders of BRICS continue to meet regularly to discuss major global issues, so as to expand their international influence and provide strategic foundations for the greater participation of developing countries in global economic governance.
4 The BRICS countries should avail themselves of opportunities provided by international economic cooperation in the following areas: trade and investment, manufacturing and minerals processing, energy, agriculture, science, technology and innovation, financial cooperation, people-to-people connectivity, tourism, information and communications technologies.
5 Developing countries can take note of the fact that China's growth over the past 30 years has been driven in large part by the government's market reform policy. In addition, developing countries can learn that China succeeded in achieving the Millennium Development Goal of reducing child mortality, with the world's fastest rate of decline in both maternal and child mortality.
Zhao Huanyu, researcher of Ghent University's Institute for International Studies in Belgium
1 First and foremost, all the BRICS countries must strongly commit to resisting all forms of protectionism and disguised restrictions on trade. Moreover, they must seek a favorable environment for the development of other emerging markets and developing countries - hanging together with them to foster better macroeconomic policy coordination, support a rules-based, transparent, nondiscriminatory, open and inclusive multilateral trading system, implement existing WTO rules and commitments. Also, they must collaborate with advanced economies and the international community to fight poverty, social exclusion and inequality.
2 The key role for BRICS is to increase the supply capacity of global public goods - be a global economy stabilizer, booster, and accelerator. In an era of uncertainty, world peace and stability are prerequisites to a sustainable global economic recovery. Therefore, BRICS must be a "stabilizer" for committing to international law and maintaining the core status of the UN to advance the political solution of hot spot issues. Furthermore, to be a real "booster" is to be a learning and sharing platform - the BRICS Plus model of open economic cooperation.
3 BRICS needs to continue pushing forward reform of the Bretton Woods institutions to increase the voice and representation of developing markets in global economic governance - to urge the IMF to complete the 15th general review of quotas, expand and strengthen the role of special drawing rights and facilitate the World Bank voting share review. It needs to make better use of the New Development Bank and the Contingent Reserve Arrangement.
4 Given the complex, contested and connected world situation, BRICS nations can strengthen their partnership in many fields, including economy, finance, foreign policy, health, education, energy, climate change and agriculture.
5 For robust and sustainable development in the long run, China has been working hard on an innovation-and efficiency-driven economy by 1) pushing forward structural reform and implementing innovation-friendly policies; 2) supporting investment for science, technology, innovation and seeking possibilities of inter-BRICS investment instruments, such as the National Development Banks and other existing financing platforms; 3) supporting cross-border cooperation between science, technology and innovation talent, especially young scientists and young entrepreneurs, and fostering industry-academia-research synergy; 4) promoting exchanges and good practices under the rubric of the Belt and Road Initiative, enhancing mutual understanding, inclusive growth and socioeconomic progress driven by scientific, technological and social innovation for more countries and people.
Source: www.chinadaily.com.cn
Economist who coined 'BRIC' acronym stresses importance of common policies with a shared interest
Editor's note: Ahead of the BRICS Summit, China Daily interviewed some experts who gave their views on the role and development of the emerging markets' group.
Economist Jim O'Neill, who created the "BRIC" acronym, said China primarily remains the most important economy in the world, leading the economic growth in the five BRICS countries to contribute more than 20 percent of the world's GDP.
"Even though its growth rates have fallen to around 6.5 to 7 percent, in nominal dollar terms, China is still adding the equivalent of a whole new Switzerland or Turkey every year to the world," O'Neill said in an interview with China Daily ahead of the summit of the group. "Or a new UK economy every three years."
It was the former Goldman Sachs chief economist who coined the term in 2001, grouping together four states - China, Brazil, Russia and India - as potential growth powerhouses of the future. Now the group also includes South Africa.
China's economy continued its steady expansion in the first half of the year, with GDP up by 6.9 percent to about 38.2 trillion yuan ($5.6 trillion), according to the National Bureau of Statistics.
O'Neill said China's development can be an example to other developing countries, especially in the area of attracting foreign direct investment.
"Most of the world's largest companies have played an important role in helping China's development, and it is to the government's credit," he said. "Other BRICS countries should take note."
O'Neill said Brazil's and Russia's emergence from recession is another key contributor to the global economy staying strong in 2017.
The recovery of these two, along with the eurozone, is probably the main reason why growth is stronger than for many years, said O'Neill, who forecasts global GDP growth in the first half of this year close to 4 percent.
He encourages China, Brazil, Russia and India to move beyond symbolism and agree on some common policies with a shared interest.
Although he said the BRICS group is less likely to achieve anything alone in terms of world governance due to the exclusion of the world's most important advanced countries, the former UK Treasury minister sees disease prevention as one potential area in which BRICS countries could take a collective position.
"I strongly encourage the BRICS leaders to be bolder in this area," O'Neill said. "It is surprising to me that they have not gone down this path. But if they did, it would be impressive and send a very large positive signal."
O'Neill, however, concedes it is not easy for the BRICS countries to coordinate between themselves to achieve stronger collective growth without ambitious plans for a free trade zone with no tariffs.
Economist Jim O'Neill says other developing countries should learn from China.
1 Starting in 2006, BRICS has entered a new era where protectionism seems to be wielding an increasingly strong influence in the global economy. What can BRICS do to help make the global economy more open and inclusive?
2 Made up of five emerging economies that contribute more than 20 percent of the world's GDP, what is BRICS' role in helping the global economy recover?
3 What can BRICS contribute to global governance to help make the international order more fair and the developing countries better represented?
4 The theme of the upcoming summit is "BRICS: Stronger Partnership for a Brighter Future". In what fields can BRICS members strengthen their partnership, and how?
5 China is upgrading its economy into an innovation-and-efficiency-driven one. It is also working with other countries to develop the Belt and Road Initiative. What lessons do you think other developing countries can learn from China's development?
Christopher Bovis, professor of international business law, University of Hull, UK
1 Protectionism in international trade must be avoided. BRICS can positively influence the introduction of an international regulatory trade system which could strike a meaningful and workable balance between free trade and national concerns in order to alleviate the dangers of protectionism. The WTO is ready for meaningful reform and, if it is to continue as a fit-for-purpose international trade instrument, it must change in a positive manner to accommodate the dynamics of the world in the 21st century. BRICS can influence the reform of the WTO.
2 The recovery of the global economy requires a collective and coordinated approach to address industrial policies at national and regional levels. BRICS can play an instrumental role in instigating a responsive and responsible political and economic leadership. BRICS can help global recovery by instigating contemporary industrial policies which will aim at creating framework conditions under which improvement of national or regional competitiveness would compensate, where necessary, for market failure. Free trade and the aftermath of globalization generates positive externalities on the economy as a whole, increasing the growth potential and vibrancy of the economic fabric, fostering innovation and training as a result of increased demand for skills.
3 Under the auspices of a responsive and responsible political and economic leadership, BRICS should insist on the need to promote sustainable development. The focus of sustainable development should be the assessment of the traditional trade systems raised by developing countries for preferential treatment and the current concerns that such economies in the global trading environment may be vulnerable to marginalization and the problem of managing discrimination. The role of institutional actors such as the UN, the World Bank and the IMF in promoting economic development in developing countries needs to be reviewed.
4 The BRICS nations can strengthen their partnership by promoting the role of the private sector in catalyzing economic recovery and promoting growth. The private sector includes the finance industry, manufacturing industry and high-tech industry. The private sector can also play a pivotal role in delivering and managing infrastructure, assisting growth and sustainable economic performance.
5 We are currently witnessing the transition of Chinese investment strategy from traditional industries, energy and infrastructure, which have been served through sovereign funds, to services and high value interests which are served primarily through private capital. The modality of such transition is the role of private equity and of institutional investors. This appears to be one of the most prolific trends for the years to come and reveals the private sector influence on investment decisions and outcomes and also offers critical insights to developing countries.
Jon R. Taylor, professor of political science and director, Master of Public Policy and Administration Program, University of St. Thomas, Houston, Texas
1 The BRICS can help the global economy by leading by example, by taking a united stand against protectionism and by backing a multilateral trade system. The need to be aggressive in warning about the dangers of greater protectionism is particularly important in the aftermath of Brexit and the US presidential election. The growth of emerging countries, particularly the growth that we have seen in China, has clearly underscored the importance for growth to be both sustainable and inclusive.
2 The overall economic conditions of the developing world have improved dramatically, as exemplified by the BRICS - particularly China. China's role has been critical in both the global economic recovery and in championing the benefits of economic globalization. The BRICS role in the global economic recovery should aim at a political goal by supporting open markets and a philosophical goal of encouraging and enhancing South-South cooperation.
3 They can follow China's lead by pushing for win-win cooperation policies that are aimed at common development, maintaining open and accessible markets and trade, and policies that are aimed at poverty eradication and inclusive growth. Given that we appear to be at a potentially pivotal moment in the battle against global economic inequality, the BRICS can be champions of mutually beneficial cooperation. Thanks to close cooperation and coordination between China and the other BRICS nations, the BRICS contribute to safeguarding the interests of developing countries as a whole and improving the global governance system. China's "BRICS Plus" proposal shows promise by offering to build mutually beneficial bilateral and multilateral partnerships through dialogue and consensus.
4 Several issues immediately come to mind: income inequality, climate change, energy, trade, e-commerce cooperation, cybersecurity, anti-terrorism, and increasing people-to-people exchanges. What is needed is an emphasis on maintaining economic momentum. While China is doing its part, the other BRICS nations are facing economic and political challenges. They would do well to follow China's lead on economic stabilization and supply-side structural reforms.
5 Developing countries can draw the following from China's development experience: Start small, focus on structural reforms first, invest heavily in a knowledge-based infrastructure, encourage policy and political cohesion, emphasize inclusive development, promote policy experimentation, remove impediments to economic reform and promote financial and market stability.
Rajiv Biswas, Asia-Pacific chief economist, IHS Markit
1 Key examples of how BRICS nations can lead international trade and investment liberalization are China's active role in advancing the Regional Comprehensive Economic Partnership trade negotiations among 16 Asia-Pacific nations, as well as its strategic plan to boost economic cooperation through the Belt and Road Initiative. BRICS nations have also established the New Development Bank in 2014 to finance infrastructure development in developing countries worldwide. BRICS can champion new initiatives to boost South-South trade and investment flows.
2 The five BRICS nations currently account for approximately 23 percent of world GDP, making these nations an important part of the world economy. China, as the world's second-largest economy, has been the key driver for sustained global economic growth since the global financial crisis of 2008-2009, accounting for around 40 percent of the total increase in world GDP since 2009. The BRICS, led by China, have also been a key driver for growth in world trade and investment flows over the past decade.
3 Ever since the end of World War II, global governance has been dominated by the developed countries. However, the world has changed tremendously since 1945, with many former European colonies having become sovereign developing nations, while the world share of GDP contributed by developing countries has approximately doubled within the last two decades. Consequently the old global governance architecture is no longer relevant and the BRICS need to lead the initiative to create a fairer system of global governance by working together to change existing governance structures in international bodies, as well as to create new international standards-setting bodies that have a modern governance structure with much stronger voting rights for developing countries.
4 The BRICS need to further strengthen their joint initiatives for boosting international trade and economic development. The BRICS countries can act as a core group to build policy frameworks and technological cooperation for a wide range of global South-South development initiatives. One of the greatest challenges facing developing countries is global climate change and meeting the Paris climate change agreement commitments.
5 China's economic development since 1978 has been remarkable, lifting it within just one generation from a poor nation based on subsistence agriculture into the world's second-largest economy that has reached upper middle income status and has become an advanced industrial economy. The Belt and Road Initiative is a great strategic vision through which China is helping many developing countries in Asia, Africa and the Middle East to accelerate their economic development through improving infrastructure connectivity. Over the long-term, China's successful experience of rapid economic development will allow it to help other developing countries in many areas of development.
Sikhumbuzo Zondi, research assistant at the Institute for Global Dialogue associated with the University of South Africa
1 In a global economy that is facing uncertainties, BRICS countries, in collaboration with major economies, should enhance macroeconomic policy coordination and work together to avoid negative spillovers to emerging economies. In addition, the BRICS formation should stress the importance of upholding a more inclusive, stable and open world economy through the creation of an enabling environment for the development of emerging markets and developing countries. To achieve this, they need to encourage human resource development and increasing people-to-people relations, so that all countries and peoples can equally share the benefits of globalization.
2 BRICS countries have been responsible for many initiatives to assist global economic recovery by establishing the New Development Bank and the Contingent Reserve Arrangement, amongst others. It has enabled BRICS members to obtain funds for development, provided new financing channels for other developing countries and realized financial exchanges, such as currency swaps among BRICS members that expand the capacity of their economies and currencies to withstand the impact of global economic turbulence.
3 BRICS plays a strategic role as a pacesetter for developing countries. Unity and cooperation among BRICS members enhances the rights of developing countries to have a voice and meaningfully participate in global political and economic decision-making. BRICS has become a vital platform for major developing countries to conduct exchanges and dialogues in the spheres of politics, economics, finance, development and culture. In the process, the BRICS formation has established a framework for an inclusive, multilayered and all-round cooperation. Overall, leaders of BRICS continue to meet regularly to discuss major global issues, so as to expand their international influence and provide strategic foundations for the greater participation of developing countries in global economic governance.
4 The BRICS countries should avail themselves of opportunities provided by international economic cooperation in the following areas: trade and investment, manufacturing and minerals processing, energy, agriculture, science, technology and innovation, financial cooperation, people-to-people connectivity, tourism, information and communications technologies.
5 Developing countries can take note of the fact that China's growth over the past 30 years has been driven in large part by the government's market reform policy. In addition, developing countries can learn that China succeeded in achieving the Millennium Development Goal of reducing child mortality, with the world's fastest rate of decline in both maternal and child mortality.
Zhao Huanyu, researcher of Ghent University's Institute for International Studies in Belgium
1 First and foremost, all the BRICS countries must strongly commit to resisting all forms of protectionism and disguised restrictions on trade. Moreover, they must seek a favorable environment for the development of other emerging markets and developing countries - hanging together with them to foster better macroeconomic policy coordination, support a rules-based, transparent, nondiscriminatory, open and inclusive multilateral trading system, implement existing WTO rules and commitments. Also, they must collaborate with advanced economies and the international community to fight poverty, social exclusion and inequality.
2 The key role for BRICS is to increase the supply capacity of global public goods - be a global economy stabilizer, booster, and accelerator. In an era of uncertainty, world peace and stability are prerequisites to a sustainable global economic recovery. Therefore, BRICS must be a "stabilizer" for committing to international law and maintaining the core status of the UN to advance the political solution of hot spot issues. Furthermore, to be a real "booster" is to be a learning and sharing platform - the BRICS Plus model of open economic cooperation.
3 BRICS needs to continue pushing forward reform of the Bretton Woods institutions to increase the voice and representation of developing markets in global economic governance - to urge the IMF to complete the 15th general review of quotas, expand and strengthen the role of special drawing rights and facilitate the World Bank voting share review. It needs to make better use of the New Development Bank and the Contingent Reserve Arrangement.
4 Given the complex, contested and connected world situation, BRICS nations can strengthen their partnership in many fields, including economy, finance, foreign policy, health, education, energy, climate change and agriculture.
5 For robust and sustainable development in the long run, China has been working hard on an innovation-and efficiency-driven economy by 1) pushing forward structural reform and implementing innovation-friendly policies; 2) supporting investment for science, technology, innovation and seeking possibilities of inter-BRICS investment instruments, such as the National Development Banks and other existing financing platforms; 3) supporting cross-border cooperation between science, technology and innovation talent, especially young scientists and young entrepreneurs, and fostering industry-academia-research synergy; 4) promoting exchanges and good practices under the rubric of the Belt and Road Initiative, enhancing mutual understanding, inclusive growth and socioeconomic progress driven by scientific, technological and social innovation for more countries and people.
Xi Jinping wants Brics to play more active role in global governance (Си Цзиньпин хочет, чтобы БРИКС играл более активную роль в глобальном управлении) / Singapore, September, 2017
Keywords: expert_opinion
2017-09-05
2017-09-05
Singapore
Source: www.straitstimes.com
Chinese President Xi Jinping has said the five Brics countries need to speak with one voice to bring about an international order that is more just and equitable.
Speaking yesterday at the bloc's annual summit, Mr Xi noted that the Brics members' ever closer ties with the rest of the world require that "we five countries play a more active part in global governance".
He conceded that members have not fully tapped the potential of cooperation, and suggested more practical ways to work together.
The bloc gathers five of the world's major emerging economies from four continents - Brazil, Russia, India, China and South Africa.
Mr Xi said: "We need to speak with one voice and jointly present our solutions to issues concerning international peace and development."
He added: "This... will help safeguard our common interests."
He stressed the need to reform the global economic governance, "increase representation and voice of the emerging market and developing countries" and to inject new impetus into efforts to address the North-South development gap, and boost global growth.
The bloc, in its joint declaration yesterday, said it would work towards "enhancement of the voice and representation of Brics countries" as well as emerging markets and developing countries in global economic governance and promoting an "open, inclusive and balanced economic globalisation".
Dr Raja Mohan, director of think-tank Carnegie India, said: "What the Brics does is to lend political legitimacy to China's aspirations for global economic leadership."
But Chinese analyst Wu Baiyi said Brics nations had come together because of a crisis in global governance. "One country can't give voice (to the need for change) alone, it does not have enough clout," he told reporters yesterday.
In what Indian media sees as a victory for its country, the declaration condemned terrorism and Pakistan-based terror groups, including those that have targeted India such as Lashkar-e-Taiba. The Chinese, at last year's summit in Goa, had refused to have this included.
This comes after the Xiamen summit was nearly marred by a stand-off between troops on the China-India border, which was called off just a week before the confab.
Dr Mohan said the stand-off might have helped China take a fresh look at India and its concerns, adding that growing uncertainty in China's ties with the United States may have encouraged Mr Xi and his team to be more accommodating of India.
Mr Rajiv Biswas, Asia-Pacific chief economist of the consultancy IHS Markit, said a key focus of the summit would be whether China and India could rebuild bilateral ties. He said improved ties would drive progress among Brics states.
Mr Xi yesterday noted that Brics cooperation "still has more space" for growth. He said statistics showed that of the US$197 billion (S$267 billion) outbound investment made last year by the bloc's members, only 5.7 per cent took place among the five countries.
He also announced new funding for Brics - 500 million yuan (S$104 million) for an economic and technology cooperation plan, and another US$4 million for its New Development Bank. But these are seen as a far cry from the US$124 billion pledged by China in May for Mr Xi's Belt and Road Initiative (BRI).
Noting the heavy BRI commitments, Mr Biswas said: "China may be taking a more cautious approach for the... summit by keeping new financial commitments relatively low."
Source: www.straitstimes.com
Chinese President Xi Jinping has said the five Brics countries need to speak with one voice to bring about an international order that is more just and equitable.
Speaking yesterday at the bloc's annual summit, Mr Xi noted that the Brics members' ever closer ties with the rest of the world require that "we five countries play a more active part in global governance".
He conceded that members have not fully tapped the potential of cooperation, and suggested more practical ways to work together.
The bloc gathers five of the world's major emerging economies from four continents - Brazil, Russia, India, China and South Africa.
Mr Xi said: "We need to speak with one voice and jointly present our solutions to issues concerning international peace and development."
He added: "This... will help safeguard our common interests."
He stressed the need to reform the global economic governance, "increase representation and voice of the emerging market and developing countries" and to inject new impetus into efforts to address the North-South development gap, and boost global growth.
The bloc, in its joint declaration yesterday, said it would work towards "enhancement of the voice and representation of Brics countries" as well as emerging markets and developing countries in global economic governance and promoting an "open, inclusive and balanced economic globalisation".
Dr Raja Mohan, director of think-tank Carnegie India, said: "What the Brics does is to lend political legitimacy to China's aspirations for global economic leadership."
But Chinese analyst Wu Baiyi said Brics nations had come together because of a crisis in global governance. "One country can't give voice (to the need for change) alone, it does not have enough clout," he told reporters yesterday.
In what Indian media sees as a victory for its country, the declaration condemned terrorism and Pakistan-based terror groups, including those that have targeted India such as Lashkar-e-Taiba. The Chinese, at last year's summit in Goa, had refused to have this included.
This comes after the Xiamen summit was nearly marred by a stand-off between troops on the China-India border, which was called off just a week before the confab.
Dr Mohan said the stand-off might have helped China take a fresh look at India and its concerns, adding that growing uncertainty in China's ties with the United States may have encouraged Mr Xi and his team to be more accommodating of India.
Mr Rajiv Biswas, Asia-Pacific chief economist of the consultancy IHS Markit, said a key focus of the summit would be whether China and India could rebuild bilateral ties. He said improved ties would drive progress among Brics states.
Mr Xi yesterday noted that Brics cooperation "still has more space" for growth. He said statistics showed that of the US$197 billion (S$267 billion) outbound investment made last year by the bloc's members, only 5.7 per cent took place among the five countries.
He also announced new funding for Brics - 500 million yuan (S$104 million) for an economic and technology cooperation plan, and another US$4 million for its New Development Bank. But these are seen as a far cry from the US$124 billion pledged by China in May for Mr Xi's Belt and Road Initiative (BRI).
Noting the heavy BRI commitments, Mr Biswas said: "China may be taking a more cautious approach for the... summit by keeping new financial commitments relatively low."
Xi's speech positive, comprehensive, says observers (Речь Си положительная и всеобъемлющая, говорят наблюдатели) / China, September, 2017
Keywords: expert_opinion, Xiamen_summit
2017-09-04
2017-09-04
China
Author: Chen Liubing, Andrew Moody and Zhong Xi
Source: www.chinadaily.com.cn
President Xi Jinping's remarks at the ninth BRICS summit on Monday earned warm praise from experts, international delegates and media.
"BRICS cooperation meets common demands of our five nations for development and conforms to the historical trends," Xi said, underscoring their common pursuit of partnership and prosperous development despite their different national conditions.
"These have made it possible for us to transcend differences and disagreements and realize mutual benefits and win-win outcomes," he said.
Here is a collection of comments from attendees.
Kerry Brown, professor of Chinese studies and director of the Lau Institute at King's College
Kerry Brown is professor of Chinese studies and director of the Lau Institute at King's College, London. [Photo Nick J.B. Moore/For China Daily]
"It was originally just a collection of countries that made an appealing acronym. Now that China has shown renewed interest, there is the chance of involving other countries," said Kerry Brown, professor of Chinese studies and director of the Lau Institute at King's College, London.
Brown, the author of a new book on China, China's World, also said BRICS was now a grouping that could lead the reform of global financial architecture, away from just the Washington-based Bretton Woods system of the International Monetary System that has prevailed since the end of World War II. President Xi Jinping called for a more "just and equitable" international order in his address.
"It (BRICS) is part of a diversification of the international financial infrastructure and has given people the opportunity to think about how other partners beyond the traditional ones can play a role. So from that point of view, it is a very useful idea," Brown said.
Naina Lal Kidwai, a former president of the Federation of Indian Chambers of Commerce and Industry
Naina Lal Kidwai, one of five BRICS business council members attending the summit from India, welcomed President Xi Jinping's support for green development and achieving the United Nations 2030 Sustainable Development Goals.
She said one of the priorities has to be building sustainable infrastructure that does not repeat the mistakes of developed countries and avoids destroying the environment.
"Two thirds of the infrastructure now needed is going to be in the global south, not just in the BRICS countries but other emerging markets as well. India alone needs $1 trillion of investment in the next five years," she said.
"There is an opportunity to build the right spaces for ourselves and not replicate what the rest of the world did and not see all the congestion and the pollution we have seen in the past."
Kidwai, also previously group general manager of HSBC Bank in India, has a particular focus on developing green financing models that will lead to higher environmental standards.
"The rules and regulations for this are still very much a work in progress within the BRICS countries but we seem to be pushing on an open door," she said.
"We must move toward a system where the actual certification of a project being green is not merely constrained to something that is obviously renewable but needs to include projects that are energy efficient and benefit the environment in other ways," she said.
Shchepin Konstantin, Russia, China Radio International
We are very happy to learn that China is going to spend 500 million yuan in promoting trade, technical investment, and cooperation between the BRICS countries, which is indeed very important.
We need to talk about cooperation among the BRICS nations as there's a huge potential. President Xi said BRICS countries only invested 5.7 percent in each other in 2016, which is a small amount. When we talk about China-Russia investment cooperation, the momentum is positive. Investments from China into Russia are moving forward at a fast pace. I know President Xi is going to deliver several speeches during the summit and he has already sent a lot of positive signals, not only to the BRICS countries, but also to the world.
Atul Aneja, Associate Editor, The Hindu (India's national newspaper)
I think President Xi gave the future direction of the BRICS in all these fields. It is a very comprehensive speech in discovering the economic side, the security side, etc. He also decided to set up a fund of $4 million for the New Development Bank (NDB).
I think the most important thing he is saying is that it is time for emerging economies to take the lead of globalization. Emerging markets and developing countries will be involved in economic globalization, which is different from the past, which is more inclusive. It is for everyone and not only to benefit a small group of elites. This is a good message from him.
Ikaneng Archibald Tshepo, a reporter from South African Broadcasting Corporation
"It was a great speech. President Xi emphasized the importance of economic cooperation. The world economy is not doing very well currently, and we hope to have a closer economic relationship with China and India. Next year South Africa is going to hold the BRICS Summit, and we hope it will be as successful as this one," said Ikaneng Archibald Tshepo, a reporter from South African Broadcasting Corporation.
Author: Chen Liubing, Andrew Moody and Zhong Xi
Source: www.chinadaily.com.cn
President Xi Jinping's remarks at the ninth BRICS summit on Monday earned warm praise from experts, international delegates and media.
"BRICS cooperation meets common demands of our five nations for development and conforms to the historical trends," Xi said, underscoring their common pursuit of partnership and prosperous development despite their different national conditions.
"These have made it possible for us to transcend differences and disagreements and realize mutual benefits and win-win outcomes," he said.
Here is a collection of comments from attendees.
Kerry Brown, professor of Chinese studies and director of the Lau Institute at King's College
Kerry Brown is professor of Chinese studies and director of the Lau Institute at King's College, London. [Photo Nick J.B. Moore/For China Daily]
"It was originally just a collection of countries that made an appealing acronym. Now that China has shown renewed interest, there is the chance of involving other countries," said Kerry Brown, professor of Chinese studies and director of the Lau Institute at King's College, London.
Brown, the author of a new book on China, China's World, also said BRICS was now a grouping that could lead the reform of global financial architecture, away from just the Washington-based Bretton Woods system of the International Monetary System that has prevailed since the end of World War II. President Xi Jinping called for a more "just and equitable" international order in his address.
"It (BRICS) is part of a diversification of the international financial infrastructure and has given people the opportunity to think about how other partners beyond the traditional ones can play a role. So from that point of view, it is a very useful idea," Brown said.
Naina Lal Kidwai, a former president of the Federation of Indian Chambers of Commerce and Industry
Naina Lal Kidwai, one of five BRICS business council members attending the summit from India, welcomed President Xi Jinping's support for green development and achieving the United Nations 2030 Sustainable Development Goals.
She said one of the priorities has to be building sustainable infrastructure that does not repeat the mistakes of developed countries and avoids destroying the environment.
"Two thirds of the infrastructure now needed is going to be in the global south, not just in the BRICS countries but other emerging markets as well. India alone needs $1 trillion of investment in the next five years," she said.
"There is an opportunity to build the right spaces for ourselves and not replicate what the rest of the world did and not see all the congestion and the pollution we have seen in the past."
Kidwai, also previously group general manager of HSBC Bank in India, has a particular focus on developing green financing models that will lead to higher environmental standards.
"The rules and regulations for this are still very much a work in progress within the BRICS countries but we seem to be pushing on an open door," she said.
"We must move toward a system where the actual certification of a project being green is not merely constrained to something that is obviously renewable but needs to include projects that are energy efficient and benefit the environment in other ways," she said.
Shchepin Konstantin, Russia, China Radio International
We are very happy to learn that China is going to spend 500 million yuan in promoting trade, technical investment, and cooperation between the BRICS countries, which is indeed very important.
We need to talk about cooperation among the BRICS nations as there's a huge potential. President Xi said BRICS countries only invested 5.7 percent in each other in 2016, which is a small amount. When we talk about China-Russia investment cooperation, the momentum is positive. Investments from China into Russia are moving forward at a fast pace. I know President Xi is going to deliver several speeches during the summit and he has already sent a lot of positive signals, not only to the BRICS countries, but also to the world.
Atul Aneja, Associate Editor, The Hindu (India's national newspaper)
I think President Xi gave the future direction of the BRICS in all these fields. It is a very comprehensive speech in discovering the economic side, the security side, etc. He also decided to set up a fund of $4 million for the New Development Bank (NDB).
I think the most important thing he is saying is that it is time for emerging economies to take the lead of globalization. Emerging markets and developing countries will be involved in economic globalization, which is different from the past, which is more inclusive. It is for everyone and not only to benefit a small group of elites. This is a good message from him.
Ikaneng Archibald Tshepo, a reporter from South African Broadcasting Corporation
"It was a great speech. President Xi emphasized the importance of economic cooperation. The world economy is not doing very well currently, and we hope to have a closer economic relationship with China and India. Next year South Africa is going to hold the BRICS Summit, and we hope it will be as successful as this one," said Ikaneng Archibald Tshepo, a reporter from South African Broadcasting Corporation.
Xi: China supports South Africa's hosting BRICS Summit in 2018 (Си: Китай поддерживает проведение в 2018 году саммита стран БРИКС в Южной Африке) / South Africa, September, 2017
Keywords: China_SA, Xiamen_summit, Johannesburg_summit
2017-09-04
2017-09-04
South Africa
Source: www.chinadaily.com.cn
As South Africa will take over the presidency of BRICS next year, China will coordinate closely with South Africa, President Xi Jinping told his South African counterpart Jacob Zuma on Monday.
The two leaders met on the sidelines of the BRICS Summit in Xiamen of Fujian province. They will also attend a dialogue between emerging market countries and developing countries.
Both countries should strengthen their coordination among international and regional groupings such as the BRICS, the Group of 20, the United Nations and the African Union, Xi said.
Zuma said he appreciates China's excellent preparations for the BRICS Summit this year, and South Africa is ready for mutual support with China to ensure the success of each other's hosting the BRICS Summit.
Speaking on bilateral ties, Xi noted that in recent years, the bilateral comprehensive strategic partnership has maintained a strong momentum of development and the relationship is in its best shape of all time.
China is ready to strengthen coordination and cooperation with South Africa, constantly enrich the connotation of the comprehensive strategic partnership with more cooperation outcomes, and achieve common development and progress, Xi said.
Currently, China and South Africa have made positive progress in all respects of their friendly cooperation, and their pragmatic cooperation has been carried out smoothly, Xi said.
In the next stage, China is willing to work with South Africa to jointly fulfill the Belt and Road Initiative and the outcome of the Johannesburg summit of the Forum on China-Africa cooperation, deepen bilateral cooperation in various fields, and bring their ties to a higher level, Xi said.
The two sides should continue their reciprocal understanding of, and support for, each other's core interests and major concerns, and foster their high-level political mutual trust, Xi said.
The two countries should advance their cooperation in areas such as marine economy and production capacity, and reinforce cooperation in areas including culture, science and technology, health, tourism, youth, women and media.
As next year marks the 20th anniversary of the establishment of diplomatic relations between China and South Africa, both countries should make their cultural exchanges and celebrations a success, Xi said.
Zuma said the bilateral cooperation mechanism has been fruitful, and the two sides have achieved positive outcomes in exchanges and cooperation regarding economy and trade, investment, infrastructure and culture.
South Africa and China have maintained close communication and coordination in multilateral affairs, Zuma noted.
On Africa, Xi said China supports Africa's efforts to strengthen the building of its independent peacekeeping capability.
No matter how the international situation changes, China's commitment to achieving win-win cooperation and common development with Africa is unwavering, and China's support for the cause of peace and development in Africa is unwavering, Xi said.
China is willing to work with African countries on the further implementation of the Belt and Road Initiative, Xi said.
Source: www.chinadaily.com.cn
As South Africa will take over the presidency of BRICS next year, China will coordinate closely with South Africa, President Xi Jinping told his South African counterpart Jacob Zuma on Monday.
The two leaders met on the sidelines of the BRICS Summit in Xiamen of Fujian province. They will also attend a dialogue between emerging market countries and developing countries.
Both countries should strengthen their coordination among international and regional groupings such as the BRICS, the Group of 20, the United Nations and the African Union, Xi said.
Zuma said he appreciates China's excellent preparations for the BRICS Summit this year, and South Africa is ready for mutual support with China to ensure the success of each other's hosting the BRICS Summit.
Speaking on bilateral ties, Xi noted that in recent years, the bilateral comprehensive strategic partnership has maintained a strong momentum of development and the relationship is in its best shape of all time.
China is ready to strengthen coordination and cooperation with South Africa, constantly enrich the connotation of the comprehensive strategic partnership with more cooperation outcomes, and achieve common development and progress, Xi said.
Currently, China and South Africa have made positive progress in all respects of their friendly cooperation, and their pragmatic cooperation has been carried out smoothly, Xi said.
In the next stage, China is willing to work with South Africa to jointly fulfill the Belt and Road Initiative and the outcome of the Johannesburg summit of the Forum on China-Africa cooperation, deepen bilateral cooperation in various fields, and bring their ties to a higher level, Xi said.
The two sides should continue their reciprocal understanding of, and support for, each other's core interests and major concerns, and foster their high-level political mutual trust, Xi said.
The two countries should advance their cooperation in areas such as marine economy and production capacity, and reinforce cooperation in areas including culture, science and technology, health, tourism, youth, women and media.
As next year marks the 20th anniversary of the establishment of diplomatic relations between China and South Africa, both countries should make their cultural exchanges and celebrations a success, Xi said.
Zuma said the bilateral cooperation mechanism has been fruitful, and the two sides have achieved positive outcomes in exchanges and cooperation regarding economy and trade, investment, infrastructure and culture.
South Africa and China have maintained close communication and coordination in multilateral affairs, Zuma noted.
On Africa, Xi said China supports Africa's efforts to strengthen the building of its independent peacekeeping capability.
No matter how the international situation changes, China's commitment to achieving win-win cooperation and common development with Africa is unwavering, and China's support for the cause of peace and development in Africa is unwavering, Xi said.
China is willing to work with African countries on the further implementation of the Belt and Road Initiative, Xi said.
Xi, Putin agree to enhance strategic coordination, appropriately deal with DPRK nuclear test (Си и Путин согласны укреплять стратегическую координацию, надлежащим образом заниматься ядерным испытанием КНДР) / China, September, 2017
Keywords: Russia_China, high_level_meeting, Xiamen_summit, Vladimir_Putin, Xi_Jinping
2017-09-04
2017-09-04
China
Source: www.chinadaily.com.cn
XIAMEN - Chinese President Xi Jinping met with his Russian counterpart Vladimir Putin on Sunday, calling for enhancing mutual support and strategic coordination.
The two leaders also agreed to appropriately deal with the latest nuclear test conducted by the Democratic People's Republic of Korea (DPRK).
Putin is in the Southeastern Chinese coastal city of Xiamen, Fujian province, to attend the ninth BRICS summit and the Dialogue of Emerging Market and Developing Countries scheduled for Sept 3-5.
The two sides should consolidate the high-level mutual political trust, firmly strengthen mutual support and enhance strategic coordination, Xi said.
The role of bilateral cooperation mechanisms should be well played to advance projects in key areas including energy, aerospace and aviation, as well as nuclear power.
He urged advancing the integration of the Belt and Road Initiative with the Eurasian Economic Union.
Mutual understanding and friendship between the two peoples should be promoted through closer people-to-people and cultural exchanges and those at local levels, he said.
Xi also called on enhancing military cooperation as well as coordination on multilateral arenas.
China is willing to join hands with Russia to raise the bilateral relations to a higher level, promoting respective development and jointly safeguarding regional and world peace and stability, he said.
On BRICS cooperation, Xi said it is in line with the interests of the BRICS countries and the expectation of international community, especially the emerging market and developing countries, to enhance the group's cooperation and enable the BRICS countries to play a more important role in international affairs.
The BRICS countries should consolidate solidarity and cooperation to send out positive signals to the world, chart the course and define the priorities for cooperation based on the overall situation, strengthen coordination to enhance international influence, and improve mechanisms of BRICS cooperation, said Xi.
China is willing to work with Russia and other BRICS countries to achieve fruitful results at the Xiamen summit and implement the outcomes effectively so that the BRICS can usher in a second "golden decade" of cooperation.
Source: www.chinadaily.com.cn
XIAMEN - Chinese President Xi Jinping met with his Russian counterpart Vladimir Putin on Sunday, calling for enhancing mutual support and strategic coordination.
The two leaders also agreed to appropriately deal with the latest nuclear test conducted by the Democratic People's Republic of Korea (DPRK).
Putin is in the Southeastern Chinese coastal city of Xiamen, Fujian province, to attend the ninth BRICS summit and the Dialogue of Emerging Market and Developing Countries scheduled for Sept 3-5.
The two sides should consolidate the high-level mutual political trust, firmly strengthen mutual support and enhance strategic coordination, Xi said.
The role of bilateral cooperation mechanisms should be well played to advance projects in key areas including energy, aerospace and aviation, as well as nuclear power.
He urged advancing the integration of the Belt and Road Initiative with the Eurasian Economic Union.
Mutual understanding and friendship between the two peoples should be promoted through closer people-to-people and cultural exchanges and those at local levels, he said.
Xi also called on enhancing military cooperation as well as coordination on multilateral arenas.
China is willing to join hands with Russia to raise the bilateral relations to a higher level, promoting respective development and jointly safeguarding regional and world peace and stability, he said.
On BRICS cooperation, Xi said it is in line with the interests of the BRICS countries and the expectation of international community, especially the emerging market and developing countries, to enhance the group's cooperation and enable the BRICS countries to play a more important role in international affairs.
The BRICS countries should consolidate solidarity and cooperation to send out positive signals to the world, chart the course and define the priorities for cooperation based on the overall situation, strengthen coordination to enhance international influence, and improve mechanisms of BRICS cooperation, said Xi.
China is willing to work with Russia and other BRICS countries to achieve fruitful results at the Xiamen summit and implement the outcomes effectively so that the BRICS can usher in a second "golden decade" of cooperation.
Xi Jinping: BRICS countries end domination of the West (Си Цзиньпин: Страны БРИКС прекращают господство Запада) / Russia, September, 2017
Keywords: China_BRICS, BRICS_world, Xi_Jinping, expert_opinion
2017-09-04
2017-09-04
Russia
Author: Said Gafurov
Source: www.pravdareport.com
Chinese leader Xi Jinping delivered a landmark speech within the scope of the BRICS business forum, in which he challenged the dominance of the West in global economy. Judging from his speech, China intends to build a new global chain of values with partners by re-balancing economic globalisation.
According to Xi Jinping, Western powers have been ruling the world order for too long, but this page has been turned and it is developing countries that come to the forefront. The growth rate of developed economies this year will make up 2% and 1.9% next year, a report from the July IMF World Economic Outlook said. Similar indicators for emerging markets and developing countries make up 4.6% and 4.8% respectively. As we can see, the latter will be developing twice as fast - this trend has been observed for several consecutive years and many approach it as a normal phenomenon.
Author: Said Gafurov
Source: www.pravdareport.com
Chinese leader Xi Jinping delivered a landmark speech within the scope of the BRICS business forum, in which he challenged the dominance of the West in global economy. Judging from his speech, China intends to build a new global chain of values with partners by re-balancing economic globalisation.
According to Xi Jinping, Western powers have been ruling the world order for too long, but this page has been turned and it is developing countries that come to the forefront. The growth rate of developed economies this year will make up 2% and 1.9% next year, a report from the July IMF World Economic Outlook said. Similar indicators for emerging markets and developing countries make up 4.6% and 4.8% respectively. As we can see, the latter will be developing twice as fast - this trend has been observed for several consecutive years and many approach it as a normal phenomenon.