Chinese Foreign Minister Wang Yi underscored the pivotal role of BRICS collaboration in reshaping global governance frameworks during a high-profile meeting in Rio de Janeiro this week. Addressing representatives from Brazil, Russia, India, China, and South Africa, Wang presented a four-pronged roadmap aimed at amplifying the voice of emerging economies on the world stage.
Strengthening Trade Foundations
Wang urged BRICS members to defend the World Trade Organization's multilateral rules, explicitly opposing protectionism. He emphasized revitalizing the WTO’s dispute resolution mechanisms and streamlining cross-border commerce to support equitable growth across the Global South.
Modernizing Financial Architecture
Calling for a 'historic rebalancing,' Wang advocated overhauling IMF quotas and World Bank shareholding structures. These reforms aim to better reflect the economic weight of developing nations while addressing longstanding gaps in decision-making influence.
Accelerating Green Transition
The minister championed intensified BRICS cooperation on renewable energy initiatives and climate financing frameworks. His endorsement of Brazil’s upcoming COP30 hosting role signals a joint push for binding climate commitments from industrialized nations.
Bridging the Digital Divide
Wang proposed establishing unified standards for artificial intelligence governance and invited BRICS partners to Shanghai’s 2025 World AI Conference. This aligns with broader calls to finalize a UN Digital Compact ensuring equitable access to emerging technologies.
