China, Mexico etablish strategic dialogue mechanism reports Xinhua News

BEIJING, July 11 (Xinhua) -- China and Mexico announced the establishment of a strategic dialogue mechanism on Friday during talks between Chinese President Hu Jintao and his Mexican counterpart Felipe Calderon Hinojosa.

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Chinese President Hu Jintao (R) shakes hands with Mexican President Felipe Calderon Hinojosa during the welcoming ceremony Hu hosts for him at the Great Hall of the People in Beijing, capital of China, July 11, 2008. (Xinhua Photo)
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During the talks, Hu put forward a four-point proposal to cement Sino-Mexican relations:

--Strengthening political dialogue, maintaining high-level contact, and realizing the action plan from 2006 to 2010 to promote strategic partnership;

--Boosting a win-win economic cooperation. The Chinese government encourages its enterprises to invest in Mexico's infrastructure including ports, roads, and hydroelectric stations, and supports cooperation on mining, telecommunication, agriculture and the fishing industry;

--Pushing personnel exchanges in the fields of culture, education, traditional medicine and social development;

--Promoting multilateral cooperation and consultation on major international affairs so as to safeguard the legal rights of developing countries..................

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China, India, Brazil, South Africa and Mexico meet to discuss increasing "South-South cooperation," among developing countries

Chinese President Hu Jintao put froward four main areas in which developing countries could cooperate and coordinate to promote development of the "global south."

Hu Jintao stated China and the four other developing countries in which he met with have "vast potential for cooperation." He also stressed the "importance of strengthening solidarity and cooperation."

Chinese President Hu Jintao (2nd R) pose for photos with Indian Prime Minister Manmohan Singh (1st R), Mexican President Felipe Calderon (C), Brazilian President Luis Inacio Lula da Silva (2nd L) and South African President Thabo Mvuyelwa Mbeki before their meeting in Sapporo, northern Japan, July 8, 2008. (Xinhua Photo)


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It is clear the influence of the "G-8" is quickly fading. Despite the economic and political influence in which the the world's richest nations still maintain in the world, developing nations have begun their ascent in the World Economy.

China, India, Brazil, Mexico and South Africa together are in their own respect the leaders of their own respective continents... at least in terms of size and economic might.

This recent development is only one example of how emerging markets are increasingly finding strength from one another markets and respective economic growth, as opposed to relying on demand and markets in the developed world.