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Being the representative of the developing economies, the development of the “BRICS” countries exhibits the contrast found in the era of contemporary influence of international powers. The same phenomenon is also found in One Belt and

One Road initiative which promotes international co-operation and contains similar element of change and reform. Unlike traditional economic cooperation arrangement, the BRICS which includes Brazil, Russia, India, China and the late comer South Africa is a new international cooperation model. Among these five countries, the political system is different, the economic development differs and the geographical location is dispersed. Housing around 40% people of the world, the BRICS mechanism is on the way to perfect itself to become an international alliance. These five countries being the important source of the global economic recovery in the post- financial crisis era, are also seen as representatives of the emerging countries and each of them has its own characteristics. The formation of the alliance is a change to the traditional model of economic cooperation dominated by developed countries.