BRIC, a supposedly an emerging economies big boys club is welcoming a new member. South Africa has been officially invited to the BRIC leaders meeting in China this year, and the informal group may now be called BRICS.
Not sure why South Africa – not Mexico, Indonesia or Turkey for instance, as has been speculated by many lately. But I suspect the reason is simply geography, and the credit should go to Chinese leader Hu Jintao, who see his countries future in greatly untapped Africa.
With South Africa on board, the access to (some) African markets and resources will now be open. The ‘club’ can also claim a truly global coverage: Asia, Europe (or Caucasus?), South America and Africa. Compare this to the G8, Paris Club, and even G20.
With such vast coverage, the BRICS will hopefully be able to represent the voices of their respective continent in the global economic fora and trade negotiation tables.
The real question for me is when will Indonesia be invited to this group and elevated to a more prestigious status in the global arena. When Indonesia?***
Originally published on luqyantamanni.wordpress.com, April 13, 2011: view original.
