On the afternoon of August 29, Liu Zhiqin, a senior fellow with the Chongyang Institute for Financial Studies at Renmin University of China (RDCY), was invited to attend a forum held by Sputnik news agency of Russia, discussing the future development of BRICS and other topics with Yaroslav Lissovolik, expert with the Russian International Affairs Council, and He Wenping, research fellow at the Institute of West Asian and African Studies, Chinese Academy of Social Sciences.
Liu Zhiqin attends a forum held by Sputnik news agency.
Liu Zhiqin noted that China should pay a great deal of attention to its cooperation with Russia within the BRICS mechanism. Cooperation between China and Russia is of the greatest significance not only to trade between the two countries, but also fundamental to the future of the other BRICS member nations. If China and Russia fail to foster unity and cohesiveness, it could result in the BRICS bloc eventually falling apart.
He said that BRICS nations have been facing new problems recently. For example, sanctions on Russia by the West have continued to restrict its development, while at the same time Brazil`s economy remains in the doldrums. Some Western countries doubt whether the BRICS bloc can survive this crisis. At this critical moment, unity between Russia and China is a matter of paramount importance. It is increasingly clear that BRICS members and related countries should enhance their levels of cooperation and voice their objections to blind sanctions.
As for BRICS countries, differences of opinion on aspects relating to economic, trade and judicial structures harm cooperation. How to deal with these differences and find common ground will be crucial to the development of member countries and to the bloc as a whole, he said.
For the prosperity of the global economy, it is suggested that a RACE mechanism, which includes Russia, America, China and Europe, should be established. The four economies are the leading powers in the global economy, and their enhanced cooperation could mean a lot to the world, he added.