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Economists: BRICS important entity

Reporter: Zhu Dan 丨 CCTV.com

07-16-2014 17:11 BJT

Full coverage: China's Economic Data

CCTV Zhu Dan sat down with several economists from global banks to get their perspectives this year's BRICS summit.

BRICS countries make up over 40 percent of the world’s population, but economic growth is running into speed bumps, cautioned recently by the IMF. And the worry is spreading. Some analysts say while global GDP growth is on the rise, BRICS countries’ economic prospects continue to disappoint. But this view is not echoed by other experts, who think that despite slower growth, the BRICS remain a dynamic force.

"As the biggest emerging markets, they will still be quite important...In the last few years, the BRICS contributed close to half of global growth that’s in terms of how much contribution these countries are contributing. So they’re very important entities," Cui Li, Senior China Economist, Goldman Sachs said.

"China now is the second largest economy, and India is a quite sizable economy...BRICS to some extent could help counterbalance G3 in the future," Liu Ligang, Chief Economist, Greater China, ANZ Banking Group said.

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