The 2008 international financial crisis set the stage for the questioning of former global economic governance. It can be said that the 2008 international crisis worked like a catalyst of change in the international system since BRICS countries were originally acknowledged as future world class power.

 

From March 24th to 25th, experts and scholars from the think tanks of China, Brazil, Russian, India and South Africa attended BRICS Think-Tanks Symposium in Beijing. Participating in for the first time, South Africa presented the Third Conference, thereby receiving warm welcome from the representatives of other four countries. As the organizational units of the host country, Chinese Ministry of Foreign Affairs, the International Liaison Department of the Central Committee of the CPC, Chinese Contemporary World Research Center made speeches of welcome respectively to representatives from each country in the conference. 

 

The experts and scholars are all political or economic consultants of the governments and leaders. With the theme of “

Development·Cooperation·Sharing”, they conducted discussion on the following four topics for the purpose of making preparatory work for the Third Conference of leaders from “BRICS” to be held in Sanya City, Hainan Province of China in the midmonth of April this year. 

 

Topic 1: Challenges and opportunities – Environment and Backgound for the Development of BRICS Countries

 

Topic 2: Changes and Responsibilities: Agenda and Items for BRICS Countries in Advancing Global Economic Governance

 

Topic 3: Unity and Cooperation ---- Practical Cooperation and Institutional Building of BRICS Countries

 

Topic 4: Exchange and Mutual Trust --- Cooperation among Think Tanks of BRICS Countries

 

Being an invited media, Joy Communications has carried out in-depth dialogues with experts and scholars from each country.

 

What investment and trade opportunities could the economic environment, trade condition and dominant resource of each BRICS member bring to us?  It is to be illustrated in the following chart.

 

1. Prominent economic strength of BRICS in the world

 

Table 1:

 

 

Table 2: IMF’s growth rate forecast of main economies in the world (Percentage) 2011.1.25

 

II. Composition of import and export trade in BRICS

 

Table 3:

 

Table 4:

 

Table 5:

 

III.   Resource superiority of BRICS

 

Table 6:

 

Epilogue: Goldman Sachs Group Inc. predicted: “BRICS” would lead the world economy in 2050.