| Annotation |
The article is devoted to the role of the international organization BRICS (an association of Brazil, Russia, India, China and South Africa) in modern foreign policy and foreign economic strategy of China. It is noted that economic globalization is at the crossroads of development paths, the international community should choose openness or isolationism. BRICS is a new international organization aimed at improving the socio-economic development of developing countries and promoting structural reform of the current global economic system, with an emphasis on expanding voting rights in countries with developing economies and other developing countries.
During the study, methods were used to analyze documents (declarations of the BRICS summits, action plans) and a comparative analysis of the scientific literature (articles, collections, monographs and reports) of Russian, Chinese and English-language sources that appeared over the past five years.
The conceptual framework and practical significance of the cooperation between BRICS and China in the field of promoting trade and economic development, ensuring the financial security of China, the BRICS New Development Bank, multilateral diplomacy and pairing the One Belt, One Road Initiative with the BRICS countries are examined.
The author thinks that BRICS has an important place in China’s international strategy. Since China’s participation in the BRICS contributes to the development of trade and economic relations with developing countries, it provides financial activity for China in terms of internationalizing the renminbi and the BRICS New Development Bank, as well as expanding opportunities for sustainable development of the BRICS countries and the world. BRICS has a prominent role in regulating global economic and political processes
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| References |
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