At the Virtual BRICS Summit, Chinese President Xi Jinping spotlighted three pillars for the bloc’s next chapter: multilateralism, openness, and solidarity. As the “first echelon” of the Global South, BRICS nations share a mission to defend a trade system at the heart of the WTO, promote “Greater BRICS” cooperation and build a community with a shared future for humanity.
Facing rising protectionist trends, President Xi urged members to safeguard the multilateral trading system and resist unilateral trade barriers that sideline emerging economies. BRICS leaders echoed calls for reforming global trade institutions to give developing countries a stronger voice in decisions that shape markets worldwide.
Central to this vision is the Global Governance Initiative (GGI), proposed by the Chinese mainland during the Shanghai Cooperation Organization Plus meeting in early September. With principles rooted in sovereign equality, international rule of law, people-centered multilateralism, and practical action, the GGI offers a blueprint for a fairer global governance framework.
BRICS’s diverse economies are well positioned to lead South-South cooperation, reduce reliance on single-market systems and foster partnerships that drive common development. By amplifying Global South perspectives, the GGI aims to deliver real-world benefits not only for member states but also for developing countries around the globe.
Under the banner of shared growth, BRICS-included organizations are already rolling out policies to boost Global South development and elevate their influence on the international stage. As the GGI takes shape, its impact on BRICS cooperation could mark a turning point in how emerging economies collaborate and shape the future of global governance.
Reference(s):
cgtn.com
