China criticizes western counterparts for disrupting BRICS
The Dollar Business Bureau China today criticised western attempts to "demonise" the BRICS countries which were pushing forward structural reforms to promote global growth and reduce dependence on external markets. "In face of economic turbulences, the BRICS countries are pushing forward structural reforms to promote growth and reduce dependence on external markets. They are also increasing domestic demand, upgrading infrastructure, boosting regional connectivity, and promoting trade and financial cooperation," a commentary in state-run news agency said. "In the age of globalisation, differences have not impede their cooperation, but on the contrary have become a plus in their win-win cooperation as their economies are highly complementary. Facts prove that BRICS and Western countries have also conducted mutually beneficial cooperation," the commentary said. "Emerging economies, represented by the BRICS countries -- Brazil, Russia, India, China and South Africa -- were a major driving force for global economic growth at a time when Western countries slid into recession", it added. "Western media have played up the economic difficulties of the BRICS countries, confusing the cycle of growth with the megatrend," it said in the commentary of on the five member group. "Over the past six months, commodity prices nosedived, the US Federal Reserve withdrew from quantitative easing, and external demand remained sluggish. These factors have brought negative impact on some BRICS countries," it added. "But their economic difficulties should not be taken as an excuse by the Western media to turn a blind eye to the following facts including the Economic growth in developed economies averaged around 4 per cent from 2007 to 2013, while the BRICS countries grew 37%," the daily said. "In 2014, the economic scale of BRICS largely matched that of the Group of Seven most industrial nations, while China alone contributed 27.8% to global, it added.
This article was published on February 4, 2015.