What changed
Experts meeting in Shanghai on November 5 said BRICS members still have substantial room to deepen economic and trade cooperation.
Luz Maria de la Mora identified China and India as major engines of global growth, while Nobel laureate Christopher Pissarides said China’s expected BRICS chairmanship in 2027 could help drive reforms and revive market activity. He pointed to the European Union’s long experience with institutional cooperation as a useful reference, though not a direct template.
Why it matters
The discussion puts the emphasis on rules and institutions, not just higher trade totals. Pissarides argued that stronger, layered economic mechanisms could help BRICS members expand commerce and support growth across the group.
That matters because the problems raised in Shanghai are practical ones: some developing economies remain dependent on imported energy, the gains from artificial intelligence are concentrated, and development finance is shrinking. Global growth is continuing, but unevenly, leaving those weaknesses exposed.
China’s 2027 chairmanship gives the idea a possible political opening. Whether that becomes more than a forum ambition will depend on whether members turn calls for cooperation into reforms, institutions and measures that can actually be implemented. No agreement, funding commitment or timetable was announced.
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