The Beginning of the BRICS Summit Event

2017-09-05 09:30:32 / / Translated by: JC Caballero

The Beginning of the BRICS Summit Event

The nations which are members of the BRICS bloc such as Brazil, Russia, India, China and South Africa gathered on Monday in Xiamen city in the south east of China.

The BRICS bloc appeared a decade ago like an association of big economies of a fast growing to represent much better the developing nations and the way of defying the prevailing world order since the end of the World Second War.

Those nations first reached the agreement to increase the influence about the vote of the emerging markets in the international financial institutions.

The BRICS bloc began its own developing bank and its objective is precisely having a higher participation in the international affairs and even though there are some observers who state that the strength of the group has decreased the rivalry between China and India and the economic difficulties of China, Russia and South Africa.

The speech by the head of state of China

The Beginning of the BRICS Summit Event

The president of China Xi Jinping shared his vision about the cooperation in the BRICS bloc at the opening of the IX summit event that is attended by Brazil, Russia, India, China and South Africa.

Xi Jinping is convinced that the aforementioned bloc will experience the second golden decade. The same will happen if the nations from the emerging markets work together to surpass the challenges of the weak related growing and the threats to the world peace.

The Chinese head of state made these statements as part of the opening-speech ceremony of the BRICS Business Forum.
Before the public, Xi Jinping said that there is a framework of complete and developed cooperation work of the BRICS which has been shaped after ten years. The Brazilian coup-supporter president, Michel Temer and the South African president, Jacob Zuma were present.

The Chinese president denied the statement about the allegedly decrease of the BRICS bloc.

About the BRICS

The Beginning of the BRICS Summit Event

“The BRICS has the 23 % of the world economics and the 50 % of the world related growing contribution. However, the trade with the United States or Europe cannot be compared with the internal trade of the BRICS yet.”Huang Ping, who is the director of the European Studies of the Chinese Academy of Social Sciences, pointed out.

“During 2016, the business trade between China and the United States surpassed the $ 500.00 million dollars, while the trade between China and Russia barely surpasses the $ 69.500 dollars and the same happened to the business relation between China and India which reached the $ 70.700 million dollars. Moreover, the balance of trade between China and the rest of the members is still low.”

“India, which is a neighboring nation of China and the biggest one in the south of Asia, will be a young power one while China will face the population aging. Therefore, India could be benefitted through a wider economics and a higher volume of its foreign trade on that context.” Huang Ping stated.

At present, the developing nations that are part of the BRICS bloc have almost half of the retail sales on the global internet which is a number that will increase in the upcoming years, according to e report carried out by the Alibaba giant electronic trade group.

In 2016, the citizens from those nations, who represent the 40% of the world population and the 28% of the Gross Product, bought on internet at a price that surpassed the $ 876.000 million U.S. dollars (some $ 737.000 million Euro currency) which is the 47 % of the related world number.

The report that was carried out by the Ali Researching Institute also stated that it is expected that number reaches the 59% by the year 2022, taking into account that those five nations have a great potential in relation to the cooperation about the electronic trade.”

By Ana Teresa Badía

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