2016年CRI BRICS countries aggree on ungency of structual reform: Chinese financial minister

 

Leading finance officials from Brazil, Russia, India, China and South Africa accompanied their leaders as part of the weekend BRICS summit in Goa.

The meetings come just a month after the much-larger G20 Summit was held in Hangzhou, where the world's major economies - including all the BRICS nations - mapped out plans for dealing¹ with rising uncertianty in the global markets.

Speaking ahead of the meetings, Chinese Finance Minister Lou Jiwei says BRICS members need to follow up on what they've been doing since the G20.

"The BRICS nations are also good partners in the G20 format², at least in terms of financial issues. All the leaders have agreed on structural³ reforms. India is getting along with it. Brazil has found that it's urgent for it to start structural reforms, and its new government is preparing its program. So has South Africa. And Russia is as well, as it depends heavily on energy resources."

Lou Jiwei says all the BRICS countries attending the weekend session in Goa do acknowledge that there is no way out except structural reforms, but say they do believe they can be easily coordinated⁴ among the group.

But at the same time, Lou Jiwei does admit that sort-term solutions are no longer working.

"Among all the economic tools we have, including fiscal⁵ policies, monetary⁶ policies and structural reforms, all BRICS countries are now working under the belief that monetary policy changes are no longer effective. It's time for fiscal policies to take the lead. But what's more important is that financial policy changes should be part of broader structural reforms. Short-term stimulus⁷ is generating fewer and fewer effect on an economy, so we have all agreed that its time to start discussing mid-and-long-term issues."

The BRICS countries represent over one third of the world's population and about one firth of its economy.

For CRI, this is Zhao Jianfu

1 dealing   

n.经商方法，待人态度

参考例句：

• This store has an excellent reputation for fair dealing.该商店因买卖公道而享有极高的声誉。
• His fair dealing earned our confidence.他的诚实的行为获得我们的信任。

2 format   

n.设计，版式；[计算机]格式，DOS命令:格式化(磁盘)，用于空盘或使用过的磁盘建立新空盘来存储数据；v.使格式化，设计，安排

参考例句：

• Please format this floppy disc.请将这张软盘格式化。
• The format of the figure is very tasteful.该图表的格式很雅致。

3 structural   

adj.构造的，组织的，建筑（用）的

参考例句：

• The storm caused no structural damage.风暴没有造成建筑结构方面的破坏。
• The North American continent is made up of three great structural entities.北美大陆是由三个构造单元组成的。

4 coordinated   

adj.协调的

参考例句：

• The sound has to be coordinated with the picture. 声音必须和画面协调一致。
• The numerous existing statutes are complicated and poorly coordinated. 目前繁多的法令既十分复杂又缺乏快调。 来自英汉非文学 - 环境法 - 环境法

5 fiscal   

adj.财政的，会计的，国库的，国库岁入的

参考例句：

• The increase of taxation is an important fiscal policy.增税是一项重要的财政政策。
• The government has two basic strategies of fiscal policy available.政府有两个可行的财政政策基本战略。

6 monetary   

adj.货币的，钱的；通货的；金融的；财政的

参考例句：

• The monetary system of some countries used to be based on gold.过去有些国家的货币制度是金本位制的。
• Education in the wilderness is not a matter of monetary means.荒凉地区的教育不是钱财问题。

7 stimulus   

n.刺激，刺激物，促进因素，引起兴奋的事物

参考例句：

• Regard each failure as a stimulus to further efforts.把每次失利看成对进一步努力的激励。
• Light is a stimulus to growth in plants.光是促进植物生长的一个因素。