5 September 2017

Africa: Taking Brics From Economic Pragmatism to Reformed Global Governance

Photo: Govt of South Africa/Flickr
(file photo)

BRICS continues to assert its position as an alternative power to the existing global financing institutions, particularly as a platform for South-South co-operation. As they step up more in global issues, their credibility will be determined not only by their foreign policies but also their domestic stability and the prosperity of each member country. By LUANDA MPUNGOSE.

In the age of Western powers reorganising their priorities in the global arena, along with their diminishing relative economic and political weight, the BRICS' growing influence cannot be denied. The United States under President Donald Trump has drawn somewhat inward, putting "America First". Britain is trying to figure out how it will withdraw from the European Union, and what kind of relationship will be possible. The changing dynamics have seen the rise of BRICS as an alternative, with the grouping exerting its influence not only in economic co-operation but more recently in global governance. Some key developments include the possible expansion of membership, to become "BRICS-Plus".

Brazil, Russia, India and China have already admitted one new member. In 2011, South Africa joined the group of "emerging markets" as a key player on the African continent. BRICS-Plus, a proposal by China to expand the...

More on This

BRICS Operations - China Offers Huge Additional Financial Support

Over 110, 516 billion FFCA is for facilitating economic and trade cooperation. Read more »

See What Everyone is Watching

Copyright © 2017 Daily Maverick. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 800 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.