Prof. Peng Zhiwei: BRICS Countries invigorate the World Economy


In the morning of August 28th, the State Council Information Office held a press conference to allow the experts from the Ministry of Commerce and China Center for International Economic Exchanges to introduce the BRICS mechanism and comment the hot issues. According to their introduction, in recent years, BRICS economies have grown continuously in the world economy. BRICS dialogue has not only promoted the economic and trade development of these countries but also played a significant role in releasing the potential of new economies, reinvigorating the world economy. National and international analysts believe that the meeting of the leaders of the BRICS would further unite the consensus of mutual benefits and win-win development, deepening the international economic and technological cooperation and infusing a positive energy into the global economic recovery.

Peng Zhiwei, Associate Professor at Nankai University’s Department of International Economy and Trade, pointed out that, even though the global economic recovery has been fragile and unbalanced, BRICS economies’ performance was outstanding. With trade protectionism on the rise, BRICS countries’ cooperation and promotion of the institutionalization of the economic cooperation mechanism will explore the potential for economic growth, promote the optimal configuration of the elements on a larger scale, and infuse energy into the world economy. 

Prof. Peng said, “Every meeting will become an important dialogue for mutual development and will continuously improve and enhance the BRICS mechanism. In the future, BRICS countries should further strengthen mutual trust, and actively expand trade, investments, and cooperation. Only in this way, BRICS will play an exemplary role and create a positive spillover effect.”

Source: People’s Daily Overseas Edition

Source of Photo:

Translated by Shi Yuchen

Proofread by Letizia Vallini

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