Daily Times

BEIJING: The BRICS Summit to be held in China in about 100 days will start another golden decade for the five nations as well as the global economy.

After ten years of development, BRICS has helped unite five single countries to become a shining representative for emerging economies, leading growth in developing countries and contributing to global economic governance.

The past decade was not without challenges for the five nations. Economic slowdown, rising trade protectionism and a volatile international security situation were common problems facing the whole world, but the BRICS countries have shown remarkable resilience with its abundant resources, vast markets, huge growth potential and enhanced cooperation.

Growth is the touchstone of BRICS. The five countries’ share in global GDP increased from about 12 percent to 23 percent in the past decade while contributing to more than half of global growth.

Cooperation in economic and political fields has been a major theme of BRICS development. The BRICS Development Bank is another pioneering innovation that further boosts economic integration among Brazil, Russia, India, China and South Africa.