BRICS Cooperation: Promoting Economic Globalization

  From June 22 to 24, a series of activities of the 14th BRICS Leaders’ Meeting was held in Beijing. Since the establishment of the BRICS cooperation mechanism 16 years ago, the BRICS cooperation has moved forward against the trend, and has continuously made new progress in the “three-wheel drive” of economy, politics and humanities. With actions and achievements, the BRICS countries have contributed to the development of economic globalization in a more inclusive and open direction.
Shaping the new impetus of globalization with pragmatic cooperation

  Pragmatic cooperation is the foundation for the steady and long-term development of BRICS cooperation, and it is also one of the highlights of BRICS cooperation. The all-round and multi-level cooperation framework of the BRICS countries provides practical guarantees for practical cooperation in various fields. Over the past 16 years, the BRICS countries have continuously promoted practical cooperation in dozens of fields such as economy, trade, finance, science and education, culture and health, and used practical actions to achieve the goal of large trade and investment markets, large currency and financial circulation, large infrastructure connectivity, and large cultural exchanges. And pragmatic achievements continue to inject new momentum into economic globalization.
  In terms of economic cooperation, relying on the complementary advantages of each other’s industrial structure and resource endowment, the BRICS countries have continuously improved the level of cooperation in trade, investment, finance and other fields. In order to promote trade and investment liberalization and facilitation, the BRICS countries have formulated policy documents such as the BRICS Economic and Trade Cooperation Action Program, the BRICS Investment Facilitation Cooperation Program, and the BRICS Economic Partnership Strategy 2025. Against the background of the prevalence of protectionism and the huge impact of the new crown epidemic on the world economy, the economic and trade scale of the BRICS countries has continued to expand, reaching new highs. According to data from the General Administration of Customs of China, in 2021, the total value of bilateral trade in goods between China and the BRICS countries will be US$490.42 billion, an increase of 39.2% over the previous year and double that of five years ago. Among them, the trade volume between China and Pakistan was US$164.06 billion, the trade volume between China and Russia was US$146.89 billion, the trade volume between China and India was US$125.66 billion, and the trade volume between China and South Africa was US$54.35 billion, all hitting record highs. In terms of financial cooperation, the new development bank and emergency reserve arrangement established by the BRICS countries have continuously expanded the exchange and settlement of local currencies, providing important support for meeting the investment and financing needs of the BRICS countries and preventing financial risks. As of the first half of 2022, the number of NDB members has increased to 9, and more than 80 loan projects have been approved, with a total loan of more than 30 billion US dollars, which has effectively promoted the economic development of each member.
  In terms of political security, the institutionalization of BRICS cooperation has been continuously improved, and its international influence has continued to expand. The BRICS countries are all major powers in the region. They both rely on each other and compete with each other in terms of politics and economy. There are also contradictions and differences in some fields and issues. In the context of the BRICS cooperation between the United States and the West based on ideology and values, the BRICS strategic partnership has been consolidated and deepened, and political and strategic mutual trust has continued to increase. Relying on mechanisms such as the meeting of foreign ministers, the meeting of high-level representatives on security affairs, and regular consultations between permanent representatives to multilateral institutions, the BRICS countries have coordinated their positions on a series of major regional and international issues, and made a resounding “BRICS voice” on the international stage.
  In terms of people-to-people and cultural exchanges, the BRICS countries continue to explore and build new platforms for exchanges, the people-to-people and cultural exchanges continue to develop in an all-round way, and the public opinion foundation for BRICS cooperation continues to be consolidated. At present, the BRICS countries are stepping up the implementation of the Action Plan for the Implementation of the BRICS Intergovernmental Agreement on Cultural Cooperation (2022-2026) to promote the building of an inclusive and mutual-learning cultural partnership.
Facing the new challenges of globalization with unity and cooperation

  In recent years, protectionism, populism, and unilateralism have prevailed in the world. Some countries adhere to the old thinking of the Cold War and zero-sum game, and are keen to politicize, instrument, and weaponize international economic cooperation. The world situation has become more and more serious. Intricate and turbulent. Under the impact of the new crown epidemic, global development is facing more severe challenges. Under the unfavorable international environment, the BRICS countries face various global challenges, continue to make efforts to maintain universal security, promote common development and improve global governance, and continue to promote economic globalization.
  In terms of security, today’s various traditional and non-traditional security threats are intertwined, and the world is facing new challenges to peace and security. In order to pursue the so-called “absolute security” and “exclusive security”, some countries do not hesitate to harm the security interests of other countries. The BRICS countries advocate a new concept of common, comprehensive, cooperative and sustainable security, which has effectively safeguarded world peace and stability.
  In terms of development, all countries in the world have insufficient development momentum and the problem of global development imbalance has become increasingly prominent. As representatives of emerging markets and developing countries in the world, the BRICS countries have always placed development at a prominent position in policy coordination, and have continuously promoted countries’ efforts in poverty reduction, food security, epidemic prevention and vaccines, development financing, climate change and green development, industrialization , digital economy, connectivity and other fields. At the BRICS leaders’ meeting in Beijing, the BRICS countries reached many new consensuses on uniting to fight the epidemic, promoting economic recovery, and accelerating the implementation of the 2030 Agenda for Sustainable Development, and strived to achieve a strong and sustainable post-epidemic era. , balanced and inclusive economic recovery, and balanced and comprehensive promotion of work in the three major fields of economy, society and environment, injecting new impetus into achieving global sustainable development and building a more equitable and balanced global development partnership.
  In terms of global governance, it is increasingly difficult for the existing global governance system, rules and capabilities to effectively respond to the increasingly prominent global challenges. In response to global problems, some countries are keen to form exclusive “small gangs” and “small circles”, resulting in an increasing global governance deficit. In order to reform and improve the global governance system, enhance the voice of developing countries and effectively safeguard the interests of developing countries, the BRICS countries firmly safeguard the international system with the United Nations at the core and the international order based on international law, and continue to promote more inclusive global governance. , representation and participation.
Grasp the new opportunities of globalization with innovative development

  At present, although the process of economic globalization has encountered obstacles, it has not been able to stop the pace of a new round of industrial revolution. The new industrial revolution not only promotes the transformation and upgrading of traditional production methods, but also spawns new business forms, new models and new industries, thus giving birth to new opportunities for globalization. In this context, the BRICS countries have introduced new technological innovation development strategies, accelerated the transformation of traditional industries to digitalization, intelligence and low-carbonization, and strengthened the alignment of strategies, plans and policies in the new industrial field. Relying on BRICS mechanisms such as the BRICS Industrial Competence Center, the BRICS New Industrial Revolution Partnership Innovation Base, and the BRICS Start-up Enterprise Activities, the BRICS countries continue to deepen innovation cooperation, jointly address the challenges of the new industrial revolution, and continue to promote inclusiveness. , sustainable industrialization has created a broad space for its own development and global common development.
  The BRICS New Industrial Revolution Partnership was initiated by President Xi Jinping at the 10th BRICS Leaders’ Meeting in 2018. Since its launch in December 2020, the BRICS New Industrial Revolution Partnership Innovation Base has built eight new industrial revolution enabling platforms, released more than 100 demonstration projects, and signed 40 cooperation projects. At the same time, the BRICS New Industrial Revolution Partnership Forum has become a platform for BRICS innovation strategy alignment and policy communication, and will continue to explore new ways for BRICS countries to seize opportunities for industrial reform and give full play to their complementary advantages in industries. In addition, the BRICS Manufacturing Innovation Achievement Industrialization Service Center, Information Technology Standards and Intellectual Property Service Center and other institutions will also be officially launched, which will accelerate the transformation and implementation of BRICS cooperation results.
  Thanks to the development and cooperation of digital technology, the digital economy of the BRICS countries has developed rapidly, and the “digital BRICS” has become more dynamic. In terms of digital infrastructure construction, the BRICS countries continue to expand digital infrastructure investment, and cooperate to promote 5G network construction, application promotion, technology development and security assurance. In terms of the development of digital industrialization, the BRICS countries have strengthened the supporting role of information technology in epidemic prevention and control and economic recovery, increased support for the big data industry and the Internet of Things industry, and promoted the development of artificial intelligence. In terms of industrial digital transformation, the BRICS countries promote the in-depth integration and development of the digital economy and the real economy, focusing on the development of digital agriculture, digital cultural industry, “Internet + healthcare”, “Internet + tourism” and other fields. In terms of digital governance, the BRICS countries have achieved practical results in promoting digital public security joint prevention and control, standardized management of digital government affairs, intelligent upgrade of urban facilities, and digital market competition. In terms of international digital cooperation, the BRICS countries make full use of multilateral platforms such as the G20 to strengthen information exchange and experience sharing among members in cloud computing, big data, e-commerce, platform economy and other fields, and continuously improve the BRICS countries in digital The right to speak and rule-making in the economic field. The BRICS leaders meeting in Beijing reached the “BRICS Digital Economy Partnership Framework”, which will start a new process of BRICS digital economic cooperation and play an important leading role in the development of global trade and investment in the digital age.

Create a new model of globalization with openness and inclusiveness

  Openness and inclusiveness are a distinctive feature of BRICS cooperation and a magic weapon for the continuous development and growth of the BRICS mechanism. After 16 years of development, BRICS cooperation has gone far beyond the scope of cooperation between members and has become an irreplaceable platform for South-South cooperation. The achievements of BRICS development and cooperation have also benefited more countries and regions.
  First, advocate and continue to promote “BRICS+” cooperation, and continuously expand the circle of friends for BRICS cooperation. As early as the 2013 meeting in Durban, South Africa, leaders of BRICS countries held a dialogue meeting with leaders of 15 African countries, realizing the connection between BRICS cooperation and African development. During the Fortaleza meeting in Brazil in 2014, the leaders of the BRICS countries held a dialogue with the leaders of Latin American countries; during the Ufa meeting in Russia in 2015, the leaders of the BRICS countries held a dialogue with the member and observer countries of the Shanghai Cooperation Organization, the Eurasian economy Leaders of the alliance and invited countries held a dialogue meeting; during the 2016 Goa meeting in India, the leaders of the BRICS countries held a dialogue meeting with the leaders of the member states of the “Bay of Bengal Multi-Sector Economic and Technological Cooperation Initiative”; during the 2017 Xiamen meeting, Xi Jinping The chairman formally proposed the “BRICS+” cooperation concept and presided over the dialogue between emerging market countries and developing countries; during the 2022 Beijing meeting, BRICS leaders held a global meeting with leaders of 13 emerging market countries and developing countries. The development of high-level dialogue meetings will further expand the scope of “BRICS+” to the world.
  Second, promote the expansion of the New Development Bank to provide stronger support for global development. In 2021, the New Development Bank officially accepted four new members: Bangladesh, Egypt, the United Arab Emirates and Uruguay. By expanding its staff and capital and encouraging private sector participation, the NDB will gradually become a global development finance institution and play a leading role in tackling climate change, supporting sustainable development and promoting infrastructure development.
  Finally, restart the process of BRICS membership expansion and continuously enhance the representativeness and influence of BRICS cooperation. Under the active promotion of China, South Africa officially joined the BRICS cooperation mechanism in 2011, realizing the first expansion of the BRICS members. At the Beijing meeting in 2022, the leaders of the BRICS countries reached a consensus on promoting the BRICS membership expansion process, and will clarify the guiding principles, standards and procedures for the membership expansion process. At present, many countries have expressed their willingness to join the BRICS cooperation mechanism, which means that the BRICS cooperation will have a linkage and convergence effect on a larger scale, forming a trend that promotes economic globalization to become more open, inclusive and inclusive. , balance and win-win direction of the development of a powerful force.

Comments Off on BRICS Cooperation: Promoting Economic Globalization
error: Content is protected !!