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

By Alec Hogg

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

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