Discussion on BRICS Summit: Can the bloc maintain relevance?

The 2016 BRICS summit was held over the weekend in the western Indian state of Goa. China is next to chair and host the event. The summit gathers the leaders of the major developing economies: Brazil, Russia, India, China and South Africa. The bloc has done a lot since its creation to boost the profile of developing countries in the international financial system. But as the economies of the five member states start to feel the effects of global sluggish growth, many question whether the group can maintain relevance. Professor Fu Jun from Peking University and Mohan Guruswamy from India’s Center for Policy Alternatives discuss how BRICS could develop in the future. CCTVNEWS also speak to the inventor of the term “BRICS,” British economist Jim O’Neil.

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