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1 [40 MARKS] ANALYSIS | Kenneth Creamer: In a changing world, BRICS must remain true to its mission The global environment in which BRICS operates
1 [40 MARKS] ANALYSIS | Kenneth Creamer: In a changing world, BRICS must remain true to its mission The global environment in which BRICS operates is challenging. An important compass for BRICS in navigating through these ever-changing waters is for the body to remain true to its original mission and to work to transform the world economic order into one that is fairer and more inclusive. When I teach my students about the powerful impact that economic growth can have in transforming people's lives, and when I talk to them about the policy discipline that governments need to adopt in order to achieve and sustain high rates of economic growth over a long period, I inevitably include in my lectures reference to the role of the great Chinese leader, Deng Xiaoping. Deng's policies helped to accelerate the rate of economic growth in China in the 1980s and 1990s to well above the world and OECD growth rate average. This period of rapid economic growth completely changed China and, in many ways, helped to create the world as we know it today. Deng is reminding us to be pragmatic and to allow both the state and the market to play
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