The author is a senior researcher with the Charhar Institute and a researcher with the Institute of West-Asian and African Studies, Chinese Academy of Social Sciences
With the convening of the 10th BRICS Summit in Johannesburg, South Africa, on July 25-27, the world’s gaze was fixed on a cooperation mechanism that consists of emerging markets and developing countries, with members from Asia, Africa, Europe and South America.
The BRICS mechanism came into being at a time when the world was undergoing profound changes. When former Chairman of Goldman Sachs Asset Management Jim O’Neil coined the BRIC acronym (Brazil, Russia, India and China) in 2001, it was only a concept classifying the most potential and attractive emerging markets for multinationals according to their economic indicators, such as population, resources, market potential…
