As geopolitical tensions reshape international alliances, China has called on BRICS nations to reinforce multilateral cooperation during Monday's Virtual BRICS Summit. Chinese President Xi Jinping outlined a vision for enhanced collaboration among emerging economies, emphasizing the bloc's role in advancing a 'more just and equitable global governance system.'
Decade of Development Through Unity
The BRICS New Development Bank (NDB), headquartered in Shanghai, stands as a testament to the group's collective potential. Over 10 years, it has disbursed $40 billion across 100+ infrastructure, clean energy, and digital transformation projects worldwide. President Xi recently toured the NDB facilities, hailing it as a 'pioneering initiative' demonstrating how Global South cooperation can drive systemic reforms in international governance.
Three Pillars for Future Cooperation
At the summit, Xi proposed a trilateral framework for BRICS collaboration:
Championing multilateralism to uphold international fairness
Strengthening solidarity to amplify developing nations' influence
These principles align with China's newly introduced Global Governance Initiative (GGI), which seeks to democratize international relations and counter protectionist trends.
Global South Finds Unified Voice
UN Secretary-General António Guterres endorsed the GGI's multilateral focus, noting its alignment with UN-centered international systems. Brazilian presidential advisor Celso Amorim highlighted the initiative's timeliness: 'As some nations disregard trade rules, BRICS solidarity becomes crucial for defending developing economies.'
Analysts observe that China's push comes as BRICS expands its membership and influence, with the bloc now representing over 40% of global population and 26% of world GDP. The NDB's success in funding sustainable infrastructure projects across Asia, Africa, and Latin America offers tangible proof of South-South cooperation's potential.
