The author introduces an approach for a consensual economic policy for a group of rapidly developing countries as a response to contemporary global economic challenges. This article reconsiders the problems of international economic integration in the period of deglobalization. The author puts forward the hypothetical model of a debt market of BRICS-bonds. The paper discusses approaches to servicing government debt and budget deficits in the BRICS based on the shared framework of financial and economic institutions. The author formulates the possibilities of a shared economic policy in the BRICS that could help overcome the consequences of the crisis caused by COVID-19. The author proposes a unique budget deficit optimization approach for the BRICS. The article evaluates the options for automatic and state-run budget deficit services and identifies the optimal level of taxation and the average weighted tax rate for the BRICS. The author investigates the potential of the BRICS to use financial resources of the shared debt market based on the gradualist approach for a consensual economic policy.

中文翻译：

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金砖国家的债务市场模型

作者介绍了一种针对快速发展中的国家达成共识性经济政策的方法，以应对当代全球经济挑战。本文重新考虑了全球化时代的国际经济一体化问题。作者提出了金砖四国债券市场的假设模型。本文讨论了基于金融和经济机构共享框架的金砖国家为政府债务和预算赤字提供服务的方法。作者提出了金砖国家采取共同经济政策的可能性，可以帮助克服由COVID-19造成的危机的后果。作者为金砖国家提出了一种独特的预算赤字优化方法。本文评估了自动和国有预算赤字服务的选项，并确定了金砖国家的最佳税收水平和平均加权税率。作者研究了金砖五国在基于共识经济政策的渐进方法的基础上，利用共享债务市场的金融资源的潜力。