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In the report, contributors review and summarize the overall economic situation in the BRICS countries since 2014 and to analyze and forecast the future economic development trend of BRICS countries in 2015. The book tries to offer a thorough and detailed discussion of the background, significance, substance, method, problem and the cooperation mechanism construction of financial cooperation and try to make constructive suggestions for BRICS countries in the field of economic development and financial cooperation with the preliminary discussion results.

The main content of this book is divided into three parts: general report, five country reports and 11 sub-reports. The general report “Financial Cooperation with the BRICS Common Development” on the basis of the analyzing the interaction between finance and economic growth provides evidence that the financial development, services and the cooperation have great significance for economic growth, foreign trade and international investment in BRICS countries. With a detailed analysis of the prerequisites and condition for developing financial cooperation among BRICS countries, this article reviews the overall trend, the major direction and the basic achievement of financial cooperation among BRICS countries in recent years. With a focus on analyzing the issue of governance mechanism construction and the factors determining the future success of the New Development Bank governance platform in common, the general report regards that this platform reflects the determination, the cooperative quality and cooperative efficiency of the BRICS countries, and it is also mentioned in the report that to operate this platform successfully, all BRICS countries need to build consensus, overcome difficulties and continue exploration. It is also necessary to work together to promote financial reform, to make financial markets prosperous and active, to coordinate BRICS’ policies, and bring about a change in the order of international financial institutions and international financial mechanisms.

“Review and Prospects of Brazilian Economic Development” reviews the Brazil economic “stagflation” and summarizes the measures taken by the Brazilian government to deal with the economic downturn, such as raising interest rates, fiscal retrenchment and expanding the infrastructure construction in 2014. In the article, it is forecasted that in 2015, the Brazilian economy may further decline, and the “stagflation” trend will continue. However, because of investment regression and a better growth outlook, Brazil’s prospects in 2016 are better. “Review and Prospects of Russian Economic Development” reviews the economic performance of Russia in 2014. The report gives internal and external factors to explain the noticeable decline while analyzing the economic development difficulties and challenges faced in 2015 and beyond. “Review and Prospects of Indian Economic Development” not only reviews the rapid economic growth of India in 2015 and some of the positive factors of the “Indian profit” but also analyzes the problems and prospects for the economic development of India.

General speaking, the book responds to the demands of the times and offers a full and in-depth discussion of the major issues of financial cooperation that the BRICS countries will face in the. Due to constant changes in the current internal and external environment, the BRICS countries urgently need to broaden the areas of cooperation and deepen pragmatic cooperation. Financial cooperation has a special role. The book examines the multiple perspectives, offering a detailed analysis of the financial cooperation among BRICS countries at various levels, especially the construction and operation of the New Development Bank. The bank is not only a model of policy and operation for the BRIC countries themselves but also can enrich and improve transformation theory, financial theory and international cooperation theory. The book has reference value to theoretical researchers, the governments of BRICS countries and other emerging countries as well as those engaged in the fields of finance, economy, trade, investment and other fields.