Research On The Dynamics Of Trade Cooperation Among BRICS Countries Based On China's Perspective

As an important pole of world economic growth,“BRICS” has vast market,population,resources,a good momentum of development.They're not only the world's most important and the most promising emerging countries,but also the most attractive eye.However,in recent years,the economic growth of some member countries of “BRICS” has stalled and trade development has been affected by the problems of trade protectionism and low prices of raw materials.This article starts with “BRICS” cooperation motivation,focuses on analysing the trade development condition between China and other “BRICS” countries,and the empirical model can be used to analyze deeply the trade cooperation between China and other “BRICS” countries.According to the results of impulse response and variance decomposition,China's GDP and CPI are less affected by the trade impact of other “BRICS” countries,and are mainly affected by their own factors.On the contrary,China's GDP has a long-term and significant promotion effect on China's trade with other “BRICS” countries,while CPI has negative effect in the short term.The results have a number of policy implications: China,as leading Asia giant,China should keep developing the economy and keep price stability,which has positive effects on other “BRICS” countries;the “BRICS” should enhance mutual trust,improve cooperation mechanisms,strengthen trade links and address imbalances in economic and trade development;promote economic structural reform and explore endogenous power;promote “BRICS+” cooperation and inject new vitality into “BRICS” development.