(Annual report): the rise of the BRICS group alters the global economic system gradually

It helped BRICS group, a relative latecomer to the mass of the five emerging economies: China, Brazil, Russia, India and South Africa, in the formation of a new global economic system and more balanced.
It was dominated by traditional Western economic powers, such as the United States and European countries, which have enjoyed the strongest word in the major international financial organizations such as the International Monetary Fund and World Bank, for a long time on the current economic system.
And , however , that the establishment of the BRICS group and the size of the rapid development over the pace of the gradual shift in the global economic balance of the developed countries to emerging countries, as well as supporting the need to speed up the formation of a new international economic order, and the trend towards a multipolar world to balance against the absolute power of industrialized nations.
Close cooperation between the BRICS group
BRIC appeared for the first time an economic concept in 2001 by Jim O'Neill, a senior economist at Goldman Sachs.
And the holding of the leaders of the BRIC countries: Brazil, Russia, India and China their first summit in June 2009 in Russia.
And reverse the birth of the BRIC, code - named after South Africa joined BRICS her name late last year, the rising power of the major emerging economies in the world in close economic cooperation between them.
In this year, BRICS members have made ​​new progress and remarkable in the promotion of mutual cooperation.
In April, China has acted as host of the summit of Group C in the coastal city of Sanya in the south.
And it issued with a compressed schedule one - day summit Sanya statement continued, in which BRICS countries have agreed to promote the reform of the existing international monetary and financial system and the diversification of international reserve currency, which is currently dominated by the US dollar system.
The summit also came up with action plans three to review existing cooperation and deepen future cooperation between the ACP projects.
In November last year, BRICS leaders met, including Chinese President Hu Jintao, in Cannes , French coastal such as the Group of Twenty summit. Search leaders and strengthening cooperation among BRICS countries and exchanged views on the international economic situation and the European debt crisis.
While the five permanent members of the BRICS have become more integrated and interdependent in economic terms, it is the coordination and cooperation between them step of the block future strategy.
The growing power of the BRICs
According to the International Monetary Fund, estimates indicate that the Group Five cooperative, which constitute nearly a third of the world 's population and represent more than a quarter of the planet 's land mass , will achieve a GDP nominally complex worth US $ 13.6 trillion this year, an estimated 19.5 percent of GDP in the world.
Trade has grown among the BRICS countries , with an average annual rate of 28 per cent from 2001 to 2010 and reached $ 239 billion in 2010, accounted for much more than international trade.
He predicted O'Neill at Goldman Sachs report in 2003 that the international economic structure will be adjusted by 2050, and will exceed BRICS Western countries the most advanced at that time.
At the same time, BRICS become more attractive to international capital is used, which is proving to rising competitive ability.
He said Yuri Musekin, deputy dean of economics and international business institute in Moscow, told (Xinhua) news agency recently that "BRICS attract capital" hot "from other regions, where they can not those financial resources , a niche for investment. The BRICS markets more attractive to companies because of the enjoyment of a cheaper labor force. "
He added that "recent events show that the growth of BRICS affect Western economies even more directly. BRICS and working there through the International Monetary Fund agreements, by increasing the BRICS quotas in the fund."
According to the Reuters summit on investment prospects , which was held last December, it has become BRICS size of the G-7 countries (United States, Japan, Germany, France, Britain, Canada and Italy) by 2027.
The long - term projections show that the BRICS will contribute nearly 50 per cent of the global equity markets by 2050, and will exceed GDP complex than in the United States by 2020, according to figures issued by the summit.
It has taken the BRICS group, in addition to promoting economic cooperation, steps to support the internal political coordination, to increase their profits and their impact on the international scene.
On several occasions, the five countries agreed on a common position on major international issues. For example, the block confirmed in Sanya Declaration of the need for comprehensive reform of the United Nations and the UN Security Council in an effort to improve the representation of the voices and interests of emerging economies. With regard to the Libyan issue, the founding countries in the BRICS abstained on the Security Council to impose a no - fly zone over Libya in March decision.

Tao said Wen Zhao, a senior researcher at the Center for US - China relations in the famous Tsinghua University, in his article "The most important impact of emerging nations such as BRICS members on international politics is their participation in international efforts for good governance." Transforming the old economic model.
The Seven industrial nations contribute two decades ago , more than 70 per cent of international economic output, but now accounts for 50 per cent.
The developed countries should now be facing the truth is that the economic and global political landscape has changed, and that the traditional economic system opens the way for a new system fairer and more balanced and reasonable.
BRICS group has taken gradually institutionalized through the organization of annual summits and enlargement and deepening cooperation. And it has evolved from just an economic concept of a multilateral mechanism for cooperation can not ignore its power.
The Goldman Sachs report showed in 2009 that since the beginning of the global financial crisis in 2007, it became 45 per cent of global growth comes from the BRICS.
According to IMF estimates that economic growth in emerging countries, apart from the impact of the global financial crisis, reached 7.1 per cent last year and is expected to reach 6.4 per cent this year.
Tao said at Tsinghua University , said the driving growth of emerging markets and the active force has played, particularly in the BRICS "a very important role in the global economy pull out what would have been a deep recession."
At the same time, it was not for the European debt crisis and Totertha growing in the current year a severe impact on the BRICS countries.
BRICS economies and enjoy an active driving force for growth, some experts predict it will surpass even the economic strength of developed countries in the end.

With the rise of the BRICS, it will convert the current international economic order dominated by the authority of the Western powers is uncertain to develop more reasonable.
Said Mariano Torza, a professor at Torcuato Di Tella University in Buenos Aires, told (Xinhua) news agency that "within the past 10 to the next 15 years , would BRICS restructuring of international economic and diplomatic relations, and in that period would be difficult to bounce strength back again. "
Induces the increased cooperation between the BRICS and Western economies
In the face dim prospects for an economic recovery is slow, should the developed countries and emerging economies, especially the BRICS, should cooperate more closely and resolved their differences, and achieve win - win results.
Analysts said there is a need, however, to work hard to promote intensive cooperation.
A Russian expert Musekin The BRICS and the developed countries grow , each in separate from the other way, " and did not find a date dedicated to coordinating policies on a daily basis a practical tool."
"The only forum for anything from coordination meetings is the Group of Twenty."
On the other hand, it is worth noting here that the cooperation does not mean merely urged dynamic emerging economies to assume more responsibility from one side, such as buying more sovereign debt European and American.
To overcome the current crisis, should the heavily indebted Western countries to increase investment and trade ties with the BRICS.
A call to the United States and the European Union to get rid of protectionist measures, opening her arms to investment from BRICS and export of more advanced technology to countries that group.