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Ignore group at your own risk: Expert

By Li Xing (China Daily)
Updated: 2009-06-16 09:14

More challenges

Ambassador Rao said the dialogue among the BRIC countries is "based on mutual trust and respect, common interests and coincidence or similarity of approaches toward the pressing problems of global development".

"BRIC countries have a strong commitment to multilateral diplomacy in dealing with common challenges for international security," she said.

Besides the global financial crisis, she said the four countries can also deal with other "challenges, such as such as climate change, energy security, food security, international financial structures, global development agenda, UN reform, terrorism and non-proliferation, more effectively".

Although BRIC's growth has won the world's respect, many believe their development any further would exceed " the ability of the global economy to supply".

Rao responded: "I do not think anyone can seriously question the right of developing countries to pursue eradication of poverty and raising living standards of their people."

"Let us not forget that when a poor Indian reduces his consumption, he dies of starvation, while when a poor Westerner reduces his consumption, all he loses is a potbelly," Prof Nalapt said.

Swaran Singh said endorsing BRIC's strengths and accepting them as vital global decision makers was "no longer a matter of choice for conventionally great economic powers".

"They can today afford to ignore BRIC but only at their own peril. Increasing recognition of BRIC is evidence that great economic powers understand this change as also BRIC's usefulness for global peace and prosperity."