BRICS' best is yet to come
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The recently concluded BRICS summit in Sanya, Hainan province, has once again highlighted the importance of emerging economies in the transformation of the international political and economic order.
The meeting, which brought together the five fastest growing economies, resulted in a statement elaborating their vision for common development and shared prosperity and put forward many new initiatives for global economic governance. With the participation of South Africa, the largest economy in Africa, the summit also added new geopolitical significance.
International opinion has varied in response to BRICS. Some acclaim it as the advent of a multi-polarity era and say this forward-looking group will have far-reaching consequences, not just for the five countries themselves, but also for the peaceful and orderly transition to a more just and democratic world.
Others are concerned about the challenges it may pose to the West-dominated world and argue that as a non-Western grouping, BRICS may push for its own agenda at the expense of the West.
For still others, BRICS is merely an ad hoc group, the countries are not really united, and it is only China that makes it possible. They argue that BRICS mainly serves China's interests as it seeks to change the West-dominated global system through multilateral diplomacy.
All these views miss the essential truth: BRICS is a manifestation of developing countries rising as a group. As a major driving force for global economic recovery in the post-crisis era, it is only natural for the BRICS states to seek a bigger say and more representation for themselves and for other developing countries on issues that have a bearing on world peace and development. Coordination and cooperation among the BRICS countries offers the promise of building a favorable external environment that helps and complements their own development and for developing countries as a whole.
