In an era of economic and financialglobalization,finance plays an increasingly vital role in thedriver of economy and society.International financialcooperation promotes national economic development andmakes countrie...In an era of economic and financialglobalization,finance plays an increasingly vital role in thedriver of economy and society.International financialcooperation promotes national economic development andmakes countries engage in global economic cooperation andgovernance.Because of falling commodity prices,weakdemand for manufactured goods,volatility in developedmarkets and a tightened quantitative easing policy in the U.S.,emerging countries are in a precarious financial state astrade decreases and growth slows.All countries now have topose the common challenge of stabilizing financial markets,regaining global growth momentum and improvinginternational financial and economic governance.Expandingfinancial cooperation may be a way to address these issues.This paper analyzes the significance of financial cooperationto facilitate the common development of BRICS nations.Itexamines the background,the characteristics,the maincontents and the challenges faced by the cooperative modeland the way forward as well.The goal is elaborate onexisting research while providing policy references for allemerging economies to guide them in the process of buildingfinancial partnerships.展开更多
文摘In an era of economic and financialglobalization,finance plays an increasingly vital role in thedriver of economy and society.International financialcooperation promotes national economic development andmakes countries engage in global economic cooperation andgovernance.Because of falling commodity prices,weakdemand for manufactured goods,volatility in developedmarkets and a tightened quantitative easing policy in the U.S.,emerging countries are in a precarious financial state astrade decreases and growth slows.All countries now have topose the common challenge of stabilizing financial markets,regaining global growth momentum and improvinginternational financial and economic governance.Expandingfinancial cooperation may be a way to address these issues.This paper analyzes the significance of financial cooperationto facilitate the common development of BRICS nations.Itexamines the background,the characteristics,the maincontents and the challenges faced by the cooperative modeland the way forward as well.The goal is elaborate onexisting research while providing policy references for allemerging economies to guide them in the process of buildingfinancial partnerships.
