Brazilian experts highlight BRICS cooperation and China's role

Brazilian economists and researchers said BRICS has become an increasingly important platform for cooperation among Global South nations, with China playing an active role, in interviews with the People's Daily following the 18th BRICS Summit in New Delhi, India.

File photo: Xinhua

"Since its establishment, BRICS has always been an important platform for cooperation among countries of the Global South," said Paulo Nogueira Batista Jr., former vice president of the New Development Bank and a Brazilian economist.

Batista said the importance of BRICS lies in the fact that several of its members are major countries in terms of population, territory and gross domestic product, which allows BRICS to maintain a degree of independence from the West.

He said BRICS has been committed since its founding to promoting a more just and balanced global governance system, particularly in international finance.

The New Development Bank, headquartered in Shanghai, is the most representative example of such efforts, Batista said. He said the bank should be further strengthened so it can eventually become a truly global institution.

Ana Elisa Saggioro Garcia, a researcher at the BRICS Policy Center at the Pontifical Catholic University of Rio de Janeiro, said BRICS was created out of a shared desire to reform global governance, particularly international financial institutions.

BRICS has since evolved into a platform for political and economic cooperation and has shown resilience despite challenges, she said.

"BRICS is highly attractive to many countries," Garcia said, and its core objective has always been to reform the global governance system, a goal that involves not only global financial institutions but also other mechanisms such as the United Nations Security Council.

"This is a space where countries of the Global South can make their voices heard and gain representation," Garcia said.

Marcos Cordeiro Pires, a professor of political and economic sciences at Sao Paulo State University, said the growing importance of BRICS stems from the rising political and economic weight of the Global South.

He said multilateral institutions have yet to catch up with these changes, while unilateralism by some countries has created new pressures on international relations.

Pires said China has put forward four global initiatives aimed at promoting development, stable international rules, peace and collective security, an open world that respects different civilizations and more inclusive global governance.

"This conceptual framework can serve as a platform for BRICS members to take concrete action for the benefit of their peoples," Pires said.

Batista described China-Brazil cooperation as a model for BRICS.

He said the two countries have grown closer in economic, political and cultural ties, particularly in trade and investment.

Transactions in renminbi and reais have increased, and Brazil became the largest destination for Chinese outbound direct investment in 2025, Batista said.

China will assume BRICS chairmanship next year and host the 19th BRICS Summit.

Garcia said there are specific expectations for China's chairmanship.

China should promote the institutionalization of BRICS, particularly by expanding its membership and establishing negotiation and decision-making mechanisms better adapted to current circumstances, she said.

Another priority was advancing practical cooperation in finance and monetary affairs, including financial transaction infrastructure, digital currencies and the use of local currencies, she said.

Such efforts could reduce the Global South's reliance on the US dollar.

Garcia also called for progress on the BRICS Contingent Reserve Arrangement.

Pires said China possesses substantial production capacity and technological capabilities in areas such as clean energy and artificial intelligence that can be shared with other countries. He said artificial intelligence deserves particular attention as its risks and opportunities remain far from fully understood.

Garcia agreed.

"BRICS countries need to strengthen coordination in order to continuously enhance their capacity for data sovereignty," she said. Brazil and China can play an important role in AI cooperation, including by developing BRICS initiatives tailored to their own circumstances and coordinating their positions through the World Artificial Intelligence Cooperation Organization, of which the two countries are both founding members, she said.