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Professor Wang Guo An
Zhejiang Gongshang University
E-mail:[email protected]
B+R+I+C+South Africa=BRICS
How BRICS came into being由来
BRICS’ development发展
BRICS’ characteristics and influence特点与影
BRICS’ challenges and future挑战与未来
2001年美国高盛公司首次提出“金砖四国” 概念,囊
Goldman Sachs美国高盛has argued that, since the four BRIC countries are
developing rapidly, by 2050 their combined economies could eclipse the
combined economies of the current richest countries of the world. These
four countries, combined, currently account for more than a quarter of the
world's land area and more than 40% of the world's population.
BRICS is a grouping acronym that refers to member countries Brazil,
Russia, India, China and South Africa. Founded as BRIC, it is typically
rendered as “the BRICS” or “the BRICS countries” or alternatively as the
“Big Five”. They are called emerging markets or economies.
The acronym (originally "BRIC") was coined by an economist Jim O'Neill in
a 2001 paper entitled "Building Better Global Economic BRICS". The
acronym has come into widespread use as a symbol of the shift in global
economic power away from the developed G7 economies (France, Germany,
Italy, Japan, UK, USA and Canada) towards the developing world. On April
13, 2011 the "S" was formally added to BRIC to form BRICS after the
admission of South Africa into the union.
Why did BRIC emerge?
The 1998 Asian Financial Crisis undermined the
authority of the International Monetary Fund, and the
Iraq War diminished US influence in the UN. In
addition, the failure of the Doha round of talks
revealed problems in the governance of world trade.
Meanwhile developing countries have been emerging
and growing in stature as these issues developed,
and they have begun to question the old rules
established by the developed countries. These were
the circumstances under which the BRIC emerged.
Essentially, the five countries of BRICS have a
common aim and purpose – to band together to
redefine the international rules, working together
with the developed countries of course.
In June 2009, four leaders held their first meeting for
the first time in Russia. 2009年6月四国领导人首次在俄
In April 2010, the second "BRIC“ summit was held in
Brazil. 2010年4月第二次“金砖四国”峰会在巴西召开。
BRICS’ Development
In November 2010, South Africa applied to join in the
BRICS during the Group 20 summit. 2010年11月二十国
On December 2010, South Africa has been accepted
as a member of the "BRIC” countries and "BRIC”was
renamed as "BRICS" .2010年12月中国作为“金砖国家”
South Africa received a formal invitation to join from China in 2010. Combined
GDP of the nations accounted for 18 percent of the world's total in 2010. South
Africa attended the summit as a member for the first time in 2011 in Sanya, Hainan
province, China. The group was renamed BRICS to reflect the now-five-nation
On April 14, 2011, President Hu Jintao met with
Brazilian President Dilma Rousseff, Russian President
Dmitry Medvedev, Indian Prime Minister Manmohan
Singh and South African President Jacob Zuma. The
third formal meeting of BRICS included South Africa
for the first time.
Broad Vision and Shared Prosperity
展望未来 共享繁荣
The BRICS Summit, the third of its kind, was held on April
14 in Sanya, a coastal city of China's Hainan Province. The
summit focused on global financial reforms, the
international economic and financial situation, multipolarity of global systems, development issues and cooperation among the member countries.
BRICS Leaders Meeting
Sanya, Hainan, China, 14 April 2011
Host country
Host leader
June 16,
June 16,
Luiz Inácio
Lula da Silva
April 14,
Hu Jintao
New Delhi
In 2010, BRICS’ GDP accounted for 18 percent of global
GDP; their average growth rate was nearly 7 percent,
over 2 percentage points higher than average world
growth. Foreign investment in BRICS countries
accounted for 53 percent of the world's total. Their
voting power at the International Monetary Fund (IMF)
was increased. Many see them as the leaders of the
world economic recovery and the growth engine of the
world, and expect them to play an ever more important
role in the G20.
BRICS’ four topics in Sanya
Reform of the international economic system
The current situation in Libya and the Middle
East and BRICS' common stance on how to
deal with such political crises.
How to deal with climate change and natural
disasters caused by climate change.
Map out a new development plan for BRICS.
BRICS’ characteristics and influence
At present, the five BRICS countries account
for nearly 30 per cent of the world's land area,
42 per cent of the global population, and 15
per cent of the world total trade volume. The
trade among these five countries experienced
a rapid growth at 28 per cent annually from
the year 2001 to 2010 and reached the
amount of US$ 230 billion.
BRICS’ characteristics and influence
The BRICS economies account for 18 percent
of the world's economic aggregate and attract
53 percent of the foreign capital. By 2015,
BRICS' total GDP will increase to 23 percent
of the world total, by 2020 to 31 percent. by
2030 to 47 percent.
Between 2000 and 2010, BRICS' GDP grew by
an incredible 92.7 percent.
BRICS’ characteristics and influence
BRICS aim at
 promotion of the peace and development
of the world.
 improvement of the developing countries’
 enhancing the communication between
developed and developing countries .
BRICS’ characteristics and influence
BRICS in common
the fastest growing economies nowadays in the world
with tremendous potential.
are in the similar stage of development and face the
same historical task of developing their economies and
improving the well-being of their people.
are also facing the similar challenges or problems in
restructuring the economy, maintaining a healthy and
sustainable growth and in achieving an inclusive,
equitable and green development.
enjoy highly complementary advantages and solid
foundation for extensive cooperation to promote
common development based on equality and mutual
BRICS’ characteristics and influence
BRICS mechanism
 open
 transparent
 Inclusive
 has provided a platform for BRICS members
to express their views, coordinate their
stances and take joint action in forming the
new international political and economic order.
BRICS’ characteristics and influence
BRICS, a multi-level cooperative framework the
Leaders Summit as its highest form, assisted
by meetings of
 Senior Security Representatives,
 Foreign Ministers,
 Finance Ministers, Governors of Central Banks
 Think Tanks,
 business circles and
 financial institutions.
Cruzior 巴西币
Ruble 卢布
Rupee 卢比
RMB 人民币
BRICS’ characteristics and influence
IMPORT: Their import and service demands, at over
$2 trillion, accounts for 13.5 percent of global
imports. This represents a 277 percent growth in
Capitalization: the market capitalization of BRIC
companies grew from $1.2 trillion to $6.4 trillion
between 2000 and 2010, a massive 641 percent
Population: The five countries' combined population
will peak at 44 percent of the world total by 2015
These countries have large numbers of highly
qualified professionals and technicians.
BRICS’ characteristics and influence
BRICS’ characteristics and influence
Build global balance to the world
Cooperate with developed countries
Benefit the members
A coordination platform for emerging
economies and a bridge between developing
and developed countries.
BRICS’ characteristics and influence
but currently neither has a permanent
secretariat nor serves as a formal
international organization.
a fledgling organization to take shape.
still in its infancy, entailing strengthened
dialogue and communications among
member countries
BRICS’ characteristics and influence
will deepen South-South cooperation, change the
game rules of international finance and trade, and
give developing countries more rights to speak.
will restructure the global pattern of economy, trade
and diplomacy.
Will improve international circumstances for emerging
economies, to some extent create a more healthy
and beneficial international atmosphere, and display
a fresh picture of emerging economies.
BRICS’ characteristics and influence
It’s expected to help set up a more just and reasonable
international political and economical order !
The political landscapes:
The influence the BRICS nations have on world politics is their
participation in global efforts for good governance.
The economic landscapes:
BRICS members have played an irreplaceable role in the
handling of global financial and economic issues.
BRICS’ characteristics and influence
Their cooperation can result in a truly win-win situation.
The BRICS economies import a huge amount of
equipment from developed countries to meet their
urbanization and industrialization demands.
Their combined demand and the developed
countries' capital and technological superiority can
drive global economic growth, and help the
developed economies to recover from the global
economic crisis.
BRICS’ characteristics and influence
The expanding market in the five BRICS countries will
boost trade between its members, and increase the
exports of countries in Africa, Latin America and
Southeast Asia.
Growing ODI (overseas direct investment) boosts
regional cooperation.
The principle: seeking common ground while shelving
BRICS benefits the members
Seeking common ground while
shelving differences
BRICS’ characteristics and influence
BRICS’ challenges and future
BRICS’ challenges and future
They have to deal with domestic problems and have to
 take measures to narrow the large income gap
 improve their social security systems
 increase the pace of industrialization
 take steps to control inflation
stem the flow of hot money into their economies.
BRICS’ challenges and future
BRICS is currently a loosely connected
economic forum.
There have been frictions in the relationships
of the five countries. China has border
disputes with India, trade disputes with Brazil.
Enlargement of BRICS will be slow
BRICS, now covering Eurasia, South America and Africa,
has gained adequate representativeness.
a larger membership was likely to hold up the consensusbuilding process,
a hasty enlargement was likely to impede its decisionmaking ability, the priority now is to strengthen the
cohesion of the current five members.
Though the mechanism is open and welcomes those with
considerable economic strength, population size, regional
representativeness and international influence when the
time is ripe.
Suggestions for BRICS
Increase their coordination in the framework
of large international meetings such as the
G20 and the UN General Assembly.
Build a dispute and crisis management
mechanism to cope with possible
international frictions.
Slowly enlarge BRICS.
杭州 浙江工商大学 王国安教授
E-mail:[email protected]