Why being the appendage in BRICS isn’t such a good thing after all

by Alec Hogg

Russian President Vladimir Putin (L),  Indian Prime Minister Narendra Modi (3rd L), Brazil's President Dilma Rousseff (C), Chinese President Xi Jinping (4th R) and South African President Jacob Zuma (2nd R) walk after the welcoming ceremony during the BRICS Summit in Ufa, Russia, July 9, 2015. Ufa is hosting the BRICS and the Shanghai Cooperation Organization (SCO) summits from July 9-10. REUTERS/Sergei Karpukhin
Russian President Vladimir Putin (L), Indian Prime Minister Narendra Modi (3rd L), Brazil’s President Dilma Rousseff (C), Chinese President Xi Jinping (4th R) and South African President Jacob Zuma (2nd R) walk after the welcoming ceremony during the BRICS Summit in Ufa, Russia, July 9, 2015. REUTERS/Sergei Karpukhin

Accepting China’s invitation to become the appendage in BRICS might not have been such a great idea after all.

Yesterday five South Africans were arrested while on holiday in China. They are accused of watching “terrorist propaganda” in their hotel room. That they are relatives of Vodacom CEO Shameel Joosub suggests their faith – Muslim – had something to do with it. Surely the citizens of an “equal” partner in BRICS would expect better treatment?

We got the news yesterday that heavily subsidised Chinese steelmakers ratcheted up exports a staggering 28% into a soggy market during the first half of 2015. That adds credence to ArcelorMittal CEO Paul O’Flaherty’s assertion that SA’s duty free idealism is allowing more ruthless global competitors to kill industry here.

Simon Evenette, University of St Gallen’s Professor of International Trade, wrote us the best piece I’ve seen on the subject. Go have a read – it’s on Biznews. Then ask yourself whether being a member of BRICS is really such a good thing for SA.


From Biznews community member Ian Jayes

You make a very good point. We used to have a thriving textile industry which is now all but dead. We used to have clothing industry centred mainly in the Cape that was world-class and exported top-quality clothing around the world, that too is now all but dead. The irony is that when we had sanctions and blocked Rands, there was industrial development in every sphere and industries like SASOL were established. Protecting one’s local industry may not be such a bad idea.

From Biznews community member Anthony Worthington

BRIC’s  is just another way for Zuma to screw up this country. China and Russia are after the minerals in this country. Just changing the subject a tad. This present leader of the DA, where does he come from? A year ago he was never heard of, and then suddenly he is leading the DA. Does he have any affiliations with the ANC? What is his back ground? The ANC wants to hold on to power in South Africa at whatever cost, It is nice being on the gravy train! Is he perhaps not an ANC ploy to get total control of South Africa. The EFF have made all the ground they are going to make, so they need another avenue. This guy is too cut and dried!


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