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by Xinhua Qu Quote Junya
BEIJING, July 25 (Xinhua) – With the 10th BRICS summit set to take place in South Africa on Wednesday, the bloc of emerging-market economies is opening a new chapter in their all After their successful meeting in 1965, the leaders of Brazil, Russia, India, China and South Africa will join hands in the development of the world. [19659002FurtherbuildingontheachievementsoftheBRICSsummitinXiamenChina
WORTHWHILE COOPERATION
Over the past 10 years, the BRICS countries have been working in a large area of the world. nge and promote sustainable development
The New Development Bank, the bloc's financial arm, offers a glimpse. Since its launch in July 2015, the Shanghai-headquartered bank has approved 21 projects worth US $ 5.1 trillion
This year, the bank will be opening its Americas regional office in Sao Paulo, Brazil; its Johannesburg-based African center began operations in 2017. This latest move will further expand and facilitate the bank's financial services, making it a major player in South-South cooperation.
The bank focuses on infrastructure and sustainable development.
With similar business decisions, the bank has helped BRICS to honor its commitment to the climate change and the 2030 Agenda for
Over the years, the BRICS have increased people-to-people, including through museum exhibitions, film festivals and educational programs, in order to boost
The organization has also established mechanisms for various types of consultation in the United Kingdom and the United States.
BETTER GOVERNANCE
BRICS has shown how countries of the South can actually wo rk productively together, said Yazini April, a researcher at South Africa's Human Sciences Research Council.
"The BRICS has set up a new internship for emerging economies which is what we need in," April said.
That echoes sentiments by Reginah Mhaule, South Africa's deputy international relations and cooperation minister.
"These countries are joined together by a strong desire to change the world system with the purpose of reflecting the diversity of the world power, economies, culture and the societies in general, "she said at a BRICS workshop in June.
" We can agree that it is a force to be reckoned with the international arena and has contributed to an increased dispersal of global political and economic power, "Mhaule
Furthermore, BRICS has grown into a significant force of international justice and fairness.
For example, their members have helped increase the representation of developing countries in the International Monetary Fund and the World Bank in recent years, making the block – representing about 40 percent of the global population and a quarter of the world economy – an accelerator in reforming the global economic governance system
Robert Lawrence Kuhn, chairman of the Kuhn Foundation and a longtime China expert, once commented: "Properly maintained, BRICS can facilitate the emergence of the largest developing countries in global governance. century. "
In the opinion of Richard Levin, Head of South Africa's National School of Government, the BRICS could enhance global governance by reducing poverty, one of the priorities of the UN sustainable development agenda.
" It is one of the most important instruments to tackle poverty. The BRICS wants to play a role in transforming global governance for the sake of transformation but for the sake of the people, "he said.
TACKLE NEW CHALLENGES
At a meeting in June in Pretoria, South Africa, BRICS foreign ministers made an appeal to multilateralism and a rules-based international order.
In a joint statement, they "reaffirmed the centrality" of the United Nations, the World Trade Organization (WTO) and International Law., Also known as Global Decision-Making, Global Economic Governance, and Global Law (19659002) Meanwhile, the foreign ministers pledged support for "an open and inclusive world economy enabling countries and nations to share the benefits of globalization"
In particular, the BRICS members voiced their opposition to "the new wave of protectionism and the systematic impact of unilateral measures that are incompatible with WTO rules," and they highlighted the role of the WTO in enhancing security and predictability in international trade. 19659002] CONFRONTING UNILATERALISM
At the beginning of a second decade of BRICS cooperation, just as Chinese President Xi Jinping
China, seeking common growth amidst new challenges, has developed a new growth strategy, and has expanded its macroeconomic policies. BRICS cultural and people-to-people exchanges to beef up the foundation for the bloc's solidarity and coordination.
Chen Fengying, a senior researcher on the global economy at the China Institutes of Contemporar y International relations, said that strengthening people-to-people and think-tanks will help the BRICS countries
On security cooperation, apart from fighting terrorism and extremism, it is suggested that BRICS countries extend their cooperation to cover the sectors of the internet, energy and finance.
Noting that the problem of imbalanced development is still undermining global growth, in a range of areas such as financing, e-commerce, intellectual property rights protection and investment facilitation.
"This is exactly where such a platform as BRICS can play a better role," she said. "And by developing itself well, it can take the lead in South-South cooperation so as to benefit more countries."
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