European countries should seize strategic opportunities, Italian experts: The Rise of the BRICS BRICS | Issues | Countries
Ma Linjiao, President of the Italian New Silk Road Promotion Association and Expert on Chinese Issues
The upcoming BRICS summit in 2023 has attracted attention from various countries, according to international online reports. Ma Linjiao, President of the Italian Association for the Promotion of the New Silk Road and an expert on China, recently stated in an interview with reporters that in recent years, emerging economies, especially the BRICS countries, have flourished and become an important driving force for world economic development, while the G7 is gradually declining. In this situation, the top priority for European countries is to break free from the trap of politicizing economic and trade issues and establishing exclusive "small circles", and to cooperate with emerging economies.
Since its establishment, the proportion of the total economic output of the BRICS countries in the world economy has been continuously increasing. If calculated based on purchasing power parity adjusted gross domestic product, the contribution rate of the G7 to world economic growth in 1992 reached 45.8%, while the contribution rate of the BRICS countries was only 16.45%; 30 years later, the contribution rate of the BRICS countries increased to 31.67%, while the contribution rate of the G7 countries decreased to 30.31%. Ma Linjiao cited a report previously released by the International Monetary Fund, which pointed out that the share of the BRICS countries in the global economy will reach $56 trillion in 2023, exceeding the $52 trillion of the G7; By 2028, this proportion will reach one-third. Ma Linjiao believes, "This marks that the economic development of emerging countries far exceeds that of developed capitalist countries."
As the economic strength of the BRICS countries continues to strengthen, their political influence has also greatly increased. After the outbreak of the Russia-Ukraine conflict, the United States and the European Union imposed unilateral sanctions on Russia. Developing countries around the world lost trust in European and American countries and saw the harm of relying on a unipolar order. More and more countries are interested in joining the BRICS. Ma Linjiao said, "The increase in political influence of BRICS countries will make the world order more diverse and balanced."
How should European countries cope with these changes? Malinjiao believes that Europe should seize this important opportunity. He bluntly pointed out that European countries cannot continue to make mistakes, burying their heads in the sand like ostriches, but should step out of the trap of politicizing economic and trade issues. "European countries need to engage in dialogue with all countries, especially emerging countries that promote global economic growth, and develop strategies to achieve sustained economic growth." Taking Italy as an example, Malinjiao stressed that since the signing of the "the Belt and Road" memorandum of understanding between China and Italy in 2019, Italy's exports to China have continued to rise, surpassing other European countries that traditionally have strong trade relations with China. Meanwhile, this has not affected Italy's exports to the United States. This proves that we can cooperate with all countries without following the United States and falling into the trap of establishing exclusive 'small circles' or' geopolitical groups'.
