By William Lee
Did you know that China plays an important role for the success of the BRICS countries in their first golden decade of cooperation?
China promotes collaboration
between BRICS members and with the rest of the world.
China and BRICS have become a new platform for cooperation
among developing countries to strengthen mutual growth and benefits..
A permanent member of the UN Security Council, China is also the world’s second largest economy and has played a leading role in promoting BRICS to the world to enhance global development partnership.
Each BRICS country has its own political systems, social values, and cultural traditions – China plays a leading role in aligning its members when dispute arises.
China has contributed 41billion USD to the Contingent Reserve Arrangement (CRA) a protection for its members against global liquidity pressure, China also provide guidance in implementing national manufacturing policy and overcoming obstacles to developing infrastructure to its members.
China is also spearheading the effort to reform the global economic architecture,
eg: pushing for reforms to the International Monetary Fund’s (IMF) weighted voting system.