The 5th Brazil, Russia, India, China and South Africa (BRICS) Summit held in Durban kicks off today and there is a sense of anticipation in the air. The thought of the major emerging economies binding together to create a superpower that could possibly provide more astute investment and growth than the U.S. and European Union (EU) is indeed exciting. The theme for this year’s conference centers around “Africa and the BRICS”. With 16 of Africa’s leaders attending the conference, it is imperative to ask ourselves at this point, just how much of say does the African representative, South Africa, have within the BRICS (other than hosting the conference). In the not so recent past, it would be inconceivable to see Brazil, Russia, India, China and South Africa working together and now they are in the pursuit of a common agenda working in unison to shape the political, economic and social landscape.
It is first important to note how the BRICS are viewed and interact on a global stage. As mentioned earlier, the BRICS are the largest emerging economies. They are involved in global forums including the G20, G77 and United Nations. The BRICS however, are different from these groups as they do not possess any institutional structures as compared to the European Union, for example. South Africa’s inclusion within the BRICS has widely been criticized because it has been seen as being too small and lacks the potential of the other emerging economies within the BRICS. But South Africa is the gateway into Africa with the investment potential and endless possibilities for the other members in the BRICS present.
Durban’s Albert Luthuli International Convention Centre hosts the Brazil, Russia, India, China and South Africa (BRICS) Summit on 26-27th of March. (Photos adapted from the official BRICS5 website).
South Africa being a part of this political grouping that has the potential to break away from the western states can only be seen as a positive if the BRICS emerge as an outright superpower. The trade between South Africa and China has caused concern amongst economists as the need for local manufacturing has decreased appreciably. Further, the loans of $20 billion from China to Africa could be potentially dangerous to further relations. Jacob Zuma has stated explicitly that Africa needs investments and China has been willing to answer this call. There will definitely be discussions around SA’s trading partners and how these can be nurtured especially within the BRICS economies. The power of the BRICS cannot be understated: The population of the BRICS constitute 40% of the world population and contributes a fifth of the global GDP and approximately 17% of world trade. South Africa’s involvement surrounded by such political company would definitely mean that there is a possibility for increased economic growth. It is logical to believe that this would be an imperative outcome for South Africa with economists predicting Nigeria set to take over as the largest economy within Africa. BRICS, is primarily an economic forum, however there is a need to take environmental and social issues into account, and it is set to be an interesting few days to see if any of these issues are covered and how outcomes are achieved balancing domestic policy with the collaboration of the BRICS. This summit will surely depict the future interactions of South Africa and Africa within the BRICS and determine whether they are included within the BRICS inner circle.
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