Foreign media have recently spoken highly of a summit grouping leaders of BRICS countries – China, Brazil, Russia, India and South Africa, saying it has revealed the bloc’s solidarity and increasing influence.

The summit clearly showed that the philosophy of "harmony" and "scientific development" was spreading worldwide, Brazilian daily Folha de Sao Paulo said in an article on Saturday. < The summit promoted the more balanced development of the world, World Journal, the biggest Chinese-language newspaper in the United States said Friday. With the influence spreading worldwide, the summit will further boost the status of the developing countries in the world arena, it said.
 
Wall Street Journal on Thursday called the meeting "a platform" to boost the group’s profile, saying "it is likely to produce positive rhetoric about cooperation among the five emerging economies."

In an article, Canadian newspaper Globe and Mail hailed the economic achievements of the BRIC countries. "Economically, the BRIC group is already a success.

The BRIC economies have grown so dramatically in the past few years," it said, adding China overtook Japan last year to rank behind only the United States in economic size.

French daily Les Echos highlighted BRICS countries’ aspiration to build a more multilateral international financial system while noting that they appealed to limit the financial speculative behavior and establish a stable currency reserve system.

Russian Newspaper Rossiiskaya Zazeta said the bloc is broadening the scope of its cooperation each year, with the focus of the summit shifting from merely economic concerns to hot issues on international politics.

Another Russian daily Nezavisimaya Gazeta said the group was dissatisfied with the hegemony of the Western countries including the United States in the international financial institutions and hoped to have greater say in tackling with the international economic issues.

The leaders of the BRICS countries wrapped up a one-day summit in Sanya, China’s southern Hainan province, on Thursday with repeated calls for reforming the global monetary and financial system and more promises of cooperation among themselves.

Chinese President Hu Jintao called for inclusive development in Asia on Friday as he attended the opening ceremony of the 2011 annual meeting of the Boao Forum for Asia (BFA).

As the second decade of the 21st century dawns upon us, Asia is at a new starting point in its development, President Hu said as he delivered a keynote speech at the forum’s opening ceremony in China’s southern town of Boao. – Xinhua

Sanya, China’s southernmost city in Hainan province, is said to be a place where five of the major rivers in the region converge before flowing into the ocean. On Thursday, five emerging economies in the world also met here to help create a new world order.

The leaders of China, Brazil, Russia, India and South Africa wrapped up a one-day summit with repeated calls for reforming the global monetary and financial system and more promises of cooperation among themselves, but uncertainties lingered over how the so-called BRICS mechanism could fit in a fast-changing world.

Leaders of the world’s five major emerging economies took a concrete step towards closer trade and economic ties at the just-concluded BRICS summit.

At the previous two summits held in Yekaterinburg and Brasilia respectively, BRIC leaders spoke loud about enhanced cooperation.

Brazil, Russia, India, China and South Africa (BRICS) together have a population of more than 3 billion – or about 43 percent of the world total. The BRICS economies account for 18 percent of the world’s economic aggregate, 15 percent of foreign trade volume, and attract 53 percent of the foreign capital. By 2015, BRICS’ total GDP will increase to 23 percent of the world total, and by 2020 to 31 percent.

The five countries’ combined population will peak at 44 percent of the world total by 2015 but is expected to fall to 37.1 percent by 2030. Their continuous GDP growth and falling population (after 2015) are bound to increase their per capita income and improve the living standards of their peoples.

 
 
Editorial Message  
This site contains materials from other clearly stated media sources for the purpose of discussion stimulation and content enrichment among our members only. 
Whatsonsanya.com does not necessarily endorse their views or the accuracy of their content. For copyright infringement issues please contact editor@whatsonsanya.com