BRICS has to take up more challenges

Brazil, Russia, India, China and South Africa (BRICS) together have a population of more than 3 billion - or about 43 percent of the world total. The BRICS economies account for 18 percent of the world's economic aggregate, 15 percent of foreign trade volume, and attract 53 percent of the foreign capital. By 2015, BRICS' total GDP will increase to 23 percent of the world total, and by 2020 to 31 percent.

The five countries' combined population will peak at 44 percent of the world total by 2015 but is expected to fall to 37.1 percent by 2030. Their continuous GDP growth and falling population (after 2015) are bound to increase their per capita income and improve the living standards of their peoples.

The leaders of the five countries will meet at the BRICS summit in Sanya, Hainan province, on April 14 to discuss global developments, financing and cooperation. But apart from the points on the Sanya summit agenda, the leaders have to deal with five domestic problems.