The Study Of Economic Cooperation Echanism Of The BRICS

BRICS represented the world’s emerging economies, including five countries at present:Brazil, Russia, India, Chinese and South Africa. As the BRICS countries all belong to developing country, there are many interests in common, and gradually established a number of cooperation mechanisms in economy, security and the environment. And the main cooperation mechanism of BRICS is economic cooperation mechanism.BRICS are expanding economic cooperation in recent years which is determined by three factors, including the development of the international pattern, common interests and benign willingness for competition. These three factors are the impetus for the five countries to establish economic cooperation mechanism. The construction of BRICS economic cooperation mechanism has experienced three stages, namely high-level meeting, system construction and system implementation.In2008, the subprime mortgage crisis triggered a global financial crisis. In order to reduce the financial crisis impact over themselves and tolerate political disagreement, territorial disputes and strategic conflict between each other, BRICS gradually establish economic cooperation mechanisms in the form of leaders BBS to expand economic cooperation between each other. Thus the system presents the characteristics of anti-crisis, inclusiveness and the soft constraints. BRICS has established leaders met on a regular basis and economic and trade minister mechanism of regular meetings, BRICS development Banks, BRICS business council, BRICS emergency stockpile of foreign exchange funds and BRICS bank cooperation mechanism and other major economic cooperation mechanism. And they have obtained encouraging achievements of mechanism construction, but there is a lack of standing institutions and the unified mechanism of binding normative documents, long-term stability of the mechanism operation. Finally, the relationship between the members of BRICS and the rest of the world’s economic cooperation is complicated.Members of BRICS states for their own internal security concerns, the plight of external competitive pressures and conflicts of interest between countries caused a difficult in development economic cooperation. China should play an important role in nation-building mechanism for economic cooperation BRIC central, advocating the establishment of mechanisms to resolve conflicts between the permanent establishment and the member states, to expand common interests and economic complementarities between the member states and rationalize internal relations BRIC countries external relations and with developing countries and other developed economies.Although economic cooperation mechanism of BRICS at present still has many problems, but as the internal standing institutions and gradually establish a conflict resolution mechanism, differences between countries will get heal slowly, mechanism will along with the development of the national economic cooperation will gradually improve and play an important role in the world economic stage. BRICS will become a major force to promote new world political and economic order.