BRICS must write the rules of a new wave of globalisation: Fuzhou Initiative

A major brainstorming exercise involving political parties, think tanks and civil society organisations of the Brazil-Russia-India-China-South Africa (BRICS) grouping have counseled emerging economies to lead a new wave of globalisation, and step up the fight against international terrorism.

The two-day conference organised by the Communist Party of China (CPC) proposed recommendations for the September summit of the BRICS in Xiamen, a coastal city in southeastern China. It advised that a coalition of emerging economies and developing countries should frontline the combat against climate change — a proposal that is aimed to fill the leadership vacuum following the withdrawal of the United States from the Paris climate accord.

The Fuzhou conference focused on re-writing the rules of global economic governance led by a coalition of BRICS and developing countries. It also urged the emerging economies to promote sustainable globalisation, and build coalitions to counter climate change.

The Fuzhou Initiative released at the end of the conference, pointed out that on account of the “setbacks and global challenges,” experienced by globalisation, the BRICS and developing countries must “stand firm to preserve and foster an open world economy, champion multilateral trade regime and facilitate healthy development of economic globalisation”.

It added: “Emerging markets and developing countries, BRICS countries included, should serve as the participants, advocates and pace-setters in driving the transformation of the global economic governance system anchored on respect of international law, negotiated solution of conflicts and struggle against poverty and inequality.”

The BRICS should also work towards “a more equitable and reasonable international order,” widely seen during the meeting as recognition of a “multipolar world,” whose rules are no longer defined by great powers emerging after the second world war.

The Fuzhou initiative recommended that Intelligence sharing and a cyber-security focus among BRICS should be integrated as part of a collective counter-terrorism strategy. “In countering terrorism, BRICS countries should enhance sharing of intelligence and experience as well as capacity building. BRICS countries should also increase cooperation in cyber security and promote the development of Internet

technologies and the governance of cyberspace globally”. Non–traditional security threats including narcotics, piracy and organised crime, must also be on the BRICS security radar.

The Fuzhou Initiative backed collaboration between BRICS and the Global South to combat “corruption and building a clean government”.

Besides, the participants of the conference called for fostering a BRICS collective identity, based on “mutual learning among civilizations” backed by extensive people –to-people contacts and uninterrupted cultural exchanges.

The document recommended a grassroots outreach through BRICS NGOs, by making full use of digital technology. “We suggest the civil society organisations, on the basis of intensified contact and communications to make full use of new technologies and build network for interaction, communication, dialogue and cooperation.”

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Printable version | Sep 13, 2022 2:52:54 am |