As a flagship project of BRICS cooperation, the New Development Bank, since its foundation ten years ago, has always been endeavoring to establishing an open development platform, providing effective financial toolbox, and guarding the economic development of BRICS countries. Beginning from 2021, the Bank has gradually involved new members including Bangladesh, Egypt, UEA and Uruguay, unceasingly moving forward towards a global multilateral development bank. Observed from a broader vision, the mechanism of BRICS cooperation also keeps expanding, extending the participation of emerging markets and developing countries into global decision-making. The number of BRICS members has reached 10, which also symbolizes an official start point of the era of Greater BRICS cooperation. Data shows that so far, the BRICS has its population already occupied nearly a half of the global population and its GDP accounting for more than 30% of the global total, becoming a vital strength to reinforce international peace and development.

Concerning the topics related, the associate professor Tianjiao JIANG, deputy director of the BRICS Research Center of FDDI, was invited to the Focus Dialogue program on Dragon TV to offer comments and interpretations. According to Professor Jiang, President Xi's inspection of the New Development Bank has released a signal of China firmly supporting the New Development Bank and the international multilateral order. As a financial pillar for BRICS, the bank is of great significance, providing financial support to various countries, reducing reliance on the US dollar, enhancing risk resistance capabilities, and also in the future, safeguarding development rights and interests. The expansion of the BRICS cooperation mechanism and the enhancement of its influence are necessary for the adjustment of international power and the rise of Global South. Its appeal stems from its economic scale, resource endowment and open cooperation model. The expansion also shows the reflections of countries on the order of the US and the West. In the future, BRICS will escort the multilateral trading system, force the reform of international financial institutions and promote the discourse power of Global South. The confusion caused by the US side originates from hegemonic thinking, misjudgment of economic structure and political short-sightedness. Its improper practices will paralyte the WTO mechanism, impact the global economy, shift costs and push parts of the developing countries into crisis.

Full text in Chinese available at:

https://fddi.fudan.edu.cn/1c/d7/c18965a728279/page.htm