Emerging economies seek more balanced international system and share a vision for fairer global governance and common growth

The recently concluded BRICS summit in Sanya, Hainan province, has once again highlighted the importance of emerging economies in the transformation of the international political and economic order.

The meeting, which brought together the five fastest growing economies, resulted in a statement elaborating their vision for common development and shared prosperity and put forward many new initiatives for global economic governance. With the participation of South Africa, the largest economy in Africa, the summit also added new geopolitical significance.