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What do you think of BRICS economic cooperation? [Copy link] 中文

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Post time 2017-9-4 13:56:47 |Display all floors
This post was edited by senoritazhao at 2017-9-4 13:57

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President Xi Jinping said Monday that BRICS countries should endeavor to promote practical economic cooperation while addressing the opening of the ninth BRICS summit in the eastern city of Xiamen, which was also attended by leaders of Brazil, Russia, India and South Africa.


The five countries' foreign investment totaled $197 billion in 2016, but only 5.7 percent took place between BRICS members, the president said.

He said the countries should increase cooperation in sectors such as trade and investment, monetary and financial areas, connectivity, sustainable development, innovation and industrial cooperation.

President Xi Jinping also called on BRICS countries to synergize their development strategies to stimulate each member's growth potential.

The five countries should find areas where their respective development policies and priorities converge, and work to build a big market for trade and investment, achieve smooth flow of currency and finance, and realize infrastructure connectivity, Xi said.



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Post time 2017-9-4 13:57:03 |Display all floors
President Xi Jinping also announced in his opening speech that China will set aside 500 million yuan (about $76 million) for economic and technological cooperation and exchanges among BRICS countries.

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Post time 2017-9-4 20:21:04 |Display all floors
I think the people who are attending the summit should think harder about main lessons from the arc of history that their own countries have experienced.

The 18th century was one where science and technology emerged as disciplines in the west which gave them power over other countries. The 19th century saw mass industrialization in the west which gave them economic supremacy through the power to determine prices for commodities from and products therefrom sold back to the lands they colonized. The 20th century was a tumult of transmuting physical colonialism into a west-based default system of world concepts, government types, business models, military extensions, monetary fiat, labor deployment and so on which in turn created a net of policymakers to maintain the status quo.

On this score, it behooves all attendees to ask how they would like to see the 21st century evolve.

Do they want to see the continuation of almost three millennia of western dependencies when the western countries only command 12% of the world population or do they want to see their own peoples of 88% in the east, south and north of this world get a better deal on the world stage and achieve comparable destiny?

Some will decry this question by saying if not for the western markets and technologies, the world would not be as it is today. While one cannot entirely discount their roles, it is important to ask whether this new century should continue a world system where more is earned by people who do much less because they happen to be the first to play a game of their making whose rules they have set to advantage them foremost.

If the answer to that question is to say no to the present status quo of the world, let the first order of the day be to dissolve any remnant suspicion and mistrust among the 88% represented at this very summit so that a new path can be paved where all can cooperate unfettered by counterproductive cageyness about intentions, a negative trait which only serve the west since it impedes progress away from dependencies on them and more towards sustainable mutual support among the group members with view to all finally standing up on their own in much the same way the western countries had done so in the last two hundred years.

Take science, technology and innovation. Russia's military prowess can find many dual-use applications for the common peoples of BRICS which in turn will create new industries for its own economy in the country and so help it achieve its first industrial revolution in its own right. India has developed its jugaad innovation to help uplift its poor which can be quickly adapted for millions other worldwide, and its prowess in computer coding can help create a new wave of globe-wide applications that will enrich societies everywhere.  China has many innovations and a great store of policy wisdom which can accelerate and transform not just lives of millions but also entire economies, cities and societies, whatever their backgrounds.  Brazil has immense potential to galvanize the peoples of the entire Latin America continent so that the south will also have a voice of its own to equal the anglo-saxons and europeans.  Similarly, South Africa as one of the most progressive nations in the African continent can help the other nations engage with the world through the BRIC platform.

Even cultural and social exchanges can gain tempo by creating a BRIC education system enriched by the textbook writing skills amply established in India, China, Russia for science and mathematics and in Brazil, South Africa and other countries for engineering, literature and the arts.

Trade and commerce can also be developed intra-BRIC. The old electronic data interchange for trade can be upgraded and fused into e-marketplaces and enriched with remote call-center services. Latin American states can be helped to develop their indigenous shipping fleets that will move their produce. Eastern Russia can be a new mega-industrial zone that connects to both Korea's and into the new industrial township being built between Beijing and Tianjin.

Even a new financial exchange can be set up that can handhold intra-BRIC trade and commerce through exchange of the respective currencies concerned. Doing so will uplift the currencies of BRIC nations and enhance the health of their monetary systems which wlll stabilize value-adding growth of their industries thereby protecting the livelihoods of the workers, farmers and service providers.

One is mindful western interests have already started to write about the summit. They are saying it's a two-gear system where China and India are much ahead in economic growth but the others are slower. They are saying that the performances of non-western countries are still cyclically dependent on commodities and not on new value-creating activities that can wean them from west dependencies.

If the summit leadership and delegates continue to accept this verdict, then the situation will indeed not improve because the only people who can make the improvements will be themselves; given the protectionist populist sentiments in the west, expect no more any concrete sympathies from the west.

There is a new challenge and it's not just demographics. It's also about people expectations about their livelihoods and the tooling of the young to be on-time relevant for the skills needed for the new industries of this century so that from their point of view, a country is also ageing if it stands still or continues to accept old assumptions unchallenged.

I think China can only do so much to help; maybe it's her socialist upbringing to think of others as well when she has come into some funds, hard-earned enough as those are. The other BRIC members should not feel intimidated by her can-do, gungho, altruistic, pragmatized style.  Put that to having been down for a long time but coming up now on a tried and tested scientific formula for national revival and development. See in it the positive energy all can equally partake and develop on their own for the rest of this one hundred years by growing the global pie together. For those still in doubt, the whole of international cooperation can be bigger than the sum of its parts so that even a smaller starting piece of a growing pie can be bigger than the bigger pieces of a shrinking pie.




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