BRIC countries can realize rapid post-crisis growth
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The BRIC countries (Brazil, Russia, India and China) are able to realize rapid economic growth after the current financial crisis tides over, said Chinese and Russian experts during a Beijing-Moscow televised conference on Monday.
The emerging economies, represented by the BRIC countries, are playing a stabilizing role amid the ongoing crisis, said Chen Fengying, director of the Institute of World Economy Studies in China's Institute of Contemporary International Relations.
Chen said the BRIC countries, which could contribute much more to the global economic growth this year, may further lead the world economy in a post-crisis era, should they realize the industrial restructuring and the transition of economic growth patterns.
Judging from macroeconomic indicators such as international balances, scales of debt and deficit, the BRIC countries may weather through the financial crisis earlier than the major developed countries, said Lev Frainkman, an expert from Russia's Institute for the Economy in Transition.
These countries also have ample reserve funds to implement their anti-crisis measures, said Frainkman.
The BRIC summit scheduled to be held in mid-June in Yekaterinburg, Russia, has displayed BRIC countries' cooperative willingness to jointly ward off the crisis, said Sergei Alexashenko, director of Macroeconomic Studies at Russia's Higher School of Economics.
BRIC countries may integrate respective resources to seek cooperation in aircraft manufacture and software development, he added.
Li Yongquan, deputy director of the Euro-Asian Social Development Research Institute at China's Development Research of the State Council, said of all the bilateral and multilateral cooperation within the framework of the BRIC countries, he particularly expects a great prospect for China-Russia cooperation.
Li suggested China and Russia further exploit cooperative potentials in four spheres such as technologies, natural resources, human resources and marketing.
(Xinhua News Agency June 2, 2009)
