Influence of emerging economies on the rise, says Chongyang Institute’s Wang Wen
Trade between BRICS partners Russia and China has reached record levels despite Western sanctions, Wang Wen, executive dean of the Chongyang Institute for Financial Studies (RDCY), told RT on the sidelines of the Eastern Economic Forum in Vladivostok. He pointed out that now is the best time to strengthen economic cooperation.
Wang also said more economies want to join BRICS, including Saudi Arabia, Iran and Afghanistan. “So I think that means a new model of civilization for emerging economies like China and Argentina because they want to rise up peacefully. These countries will bring more cooperation and trade to the world… I think we are in the new era of civilization.
The expert pointed out that “Without the West, the world still works and is doing very well”, especially in terms of cooperation between Russia and China.
“In fact, today the West is in decline, it can no longer dominate the world” Wang said, adding that at the same time “The rest of the world, including China, Russia, Brazil or other emerging countries have different values and thoughts, so they are meeting in Vladivostok to discuss the future, which is very important.”
For more stories on economics and finance, visit RT’s business section