Western Bias Against BRICS Reflects Zero-sum Thinking 08/02/2015 Author: Paul Ebeling <a href="http://www.livetradingnews.com/western-bias-brics-reflects-zero-sum-thinking-95066.htm#.VNbNkzq98XQ">Source</a> Over the past months, the topic on the prospects of the BRICS countries has been vigorously chased by some Western media, which gave a grim picture of the development of BRICS and even predicted the disintegration of the group. The negative opinion reflects the West’s Zero-sum thinking. Such prejudiced and short-sighted judgement has obviously neglected several key issues. Western media have played up the economic difficulties of the BRICS countries, confusing the cycle of growth with the megatrend. Over the past 6 months, commodity prices nosedived, the US Federal Reserve withdrew from QE (quantitative easing), external demand remained sluggish. These factors have brought negative impact on some BRICS countries. But their economic difficulties should not be taken as an excuse by the Western media to turn a blind eye to the facts. Economic growth in developed economies averaged around 4 percent from Ys 2007 to 2013, while the BRICS countries grew 37%. In Y 2014, the economic scale of BRICS largely matched that of the Group of Seven (G-7) most industrial nations, while China alone contributed 27.8% to global GDP. In other words, emerging economies, represented by the BRICS countries: <a href="http://www.miamibikinishop.com/">Brazil</a>, Russia, India, China and South Africa were a major driving force for global economic growth at a time when Western countries fell into recession. The current setback does not mean a reverse of the overall positive trend of growth for these countries, as they are resilient and have enough room for adjustment, with over 40 percent of the world’s population, over 26 percent of its territory and more than 20 percent of the global GDP. Western media also ignored both the internal reforms in the BRICS countries and the complexity of the global economic situation. In face of economic turbulences, the BRICS countries are pushing forward structural reforms to promote growth and reduce dependence on external <a href="http://www.livetradingnews.com/contact-us#.VMlAmS6YGpo">markets</a>. They are also increasing domestic demand, upgrading infrastructure, boosting regional connectivity, and promoting <a href="https://ug214.infusionsoft.com/app/form/99e9f3617a7b1da94335c2839d21b427">trade</a> and financial cooperation. Those efforts of these countries will not only benefit themselves but also Western countries. Western media’s claim that BRICS members lack solidarity due to divergences do not ‘hold water’. In the age of globalization, differences have not impede their cooperation, but on the contrary have become a plus in their Win-Win cooperation as their economies are highly complementary. Facts prove that BRICS and Western countries have also conducted mutually beneficial cooperation. Interactions between the West and the emerging economies are by no means a Zero-sum game and it is unwise to try demonize the group. Since the onset of the financial crisis in Y 2008, major economies, which may differ in ideology, have carried out bailout programs and coordinated macro-policies. The global economic downturn has made it clear that only by rallying together can countries overcome the difficult times. The world has a better future if the West abandons Zero-sum thinking and pursues a Win-Win path with emerging economies. Stay tuned… <a href="https://ug214.infusionsoft.com/app/form/99e9f3617a7b1da94335c2839d21b427">HeffX</a>-LTN Paul Ebeling