BEIJING Cheap Air Max 90 Shoes , Feb. 15 (Xinhua) -- Despite the current difficulties of BRICS economies, their economic fundamentals remain unchanged and better cooperation will help them tackle global challenges, said Chinese Vice Finance Minister Zhu Guangyao.

In an article in Monday's "Economic Daily," Zhu acknowledged that downward pressure on the global economy and fluctuating capital flows are negatively affecting the bloc of Brazil, Russia Cheap Air Max Shoes , India, China and South Africa.

However, these nations will not lose their appeal, Zhu pointed out, citing a string of factors including economic scale and cooperation within the bloc.

"Emerging economies Cheap Nike Air Max 2018 Womens , especially BRICS, represent the upward power on the global stage," he wrote.

BRICS accounts for over 20 percent of the global economy, and the share is expected to reach 25 percent by 2020, he noted. The bloc is also home to over 40 percent of the world's people.

As a consumer and supplier Cheap Nike Air Max 90 Womens , the bloc will continue its positive role and make bigger contribution to global growth, Zhu said.

In addition, better economic, financial, cultural and political cooperation will promote the integrated development of the countries Cheap Nike Air Max Womens , he added.

For China, economic reform and opening-up will ensure healthy and sustainable growth goals for the 2016-2020 period, Zhu said.

China's economy grew by 6.9 percent year on year in 2015, its lowest annual expansion in a quarter of a century.

The World Bank last month cut its global growth forecast for 2016 to 2.9 percent, 0.4 percentage points lower than its forecast in June 2015.

In 2016 Cheap Air Max 2018 Womens , the global growth, the emerging market growth in particular, will depend on continued momentum in high income countries, the stabilization of commodity prices, and China's gradual transition toward a more consumption and services-based growth model Cheap Air Max 90 Womens , the bank noted.

Related:

Interview: China's economy on track in terms of GDP growth: BRICs creator

LONDON, Jan. 26 (Xinhua) -- British Treasury's commercial secretary Jim O'Neill has expressed his optimism about China's economic growth despite the world's second largest economy slowed to a 25-year low of 6.9 percent in 2015.

China is definitely still on track in terms of its real GDP growth, said O'Neill, who is known for the creation of BRICs acronym, which refers to emerging economies of Brazil Cheap Air Max Womens , Russia, India and China. The grouping came to be known as BRICS after the inclusion of South Africa in 2010.？

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The 45-year-old UEFA executive told the Le Matin Dimanche weekly that there would be no deals among the candidates.

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