Emerging economies - pioneers of global economy
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Emerging economies headed by BRICS countries made outstanding contributions to the worldwide economic recovery and stability, economists and experts said prior to a BRICS summit.
The third meeting of BRICS -- Brazil, Russia, India, China and South Africa -- will be held in Sanya on South China's tropical island of Hainan on Thursday.
Experts told Xinhua that the big emerging economies would continue to play a prominent role in the future.
Impressive performance with stable growth
Although the global financial crisis severely affected the emerging economies, they have taken active measures to expand domestic demand and alleviate external impact, said Hong Pingfan, director of the Global Economic Monitoring Center under UN Department of Economic and Social Affairs.
Hong said that in 2011 the economic growth of emerging countries will continue to take the lead over the world economic growth.
He added that macroeconomic indexes in emerging countries such as gross domestic product, international trade balance, and industrial output had recovered and surpassed the level before the crisis.
Andrey Ostrovsky, deputy director of the Far East Institute at the Russian Academy of Sciences, said emerging economies including BRICS developed steadily in the crisis, which provided chance of cooperation with other countries.
He said every country had its own characteristics in the process of economic growth. China performed well in all fields, while India stood out in light industry.
The recovery of emerging economies was stimulated by domestic demand, said Cyn-Young Park, principal economist of the Office of Regional Economic Integration of the Asian Development Bank.
Park said quite flexible consumption and investments in these nations and fiscal and monetary policies adopted by the governments were the main driving force behind their economic growth.
Head of the Brazil/Indonesia Desk at the OECD Economics Department, Annabelle Mourougane, said Brazil achieved recovery rapidly after the financial crisis because it had carried out economic reforms early.
The economist added that in recent years the Brazilian government had expanded infrastructure construction to boost economic growth. Especially in 2010, the economy of Brazil increased 7.5 percent.
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