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27 Sep, 2011

BRICS could give crucial aid to debt-laden Europe – People’s Daily Online

The BRICS countries started cooperation amid doubts and concerns from the West and have established a sound consultation and cooperation mechanism among Brazil, Russia, India, China and South Africa. Westerners used to think that BRICS was just an unconventional term coined by Goldman Sachs.

Certain Westerners must find it hard to believe that the BRICS countries have become powerful enough to help developed countries. The BRICS consultation and cooperation mechanism meets the growing needs for economic policy coordination and is a necessary outcome of increasing globalization.

via BRICS could give crucial aid to debt-laden Europe – People’s Daily Online.