It is generally believed that the concept of BRIC was first put forward by Goldman Sachs. In June 2003, Goldman Sachs published a global economic report entitled "BRIC Dream". The report predicts that by 2050, the world economic structure will undergo a drastic reshuffle. The world's six new economies will become China, the United States, India, Japan, Brazil and Russia. The term BRIC was first put forward by Jim O 'Neill of Goldman Sachs in 200 1 year. BRICS quoted the leaders of BRICS countries.
The initials of Brazil, Russian, Indian and China. Because this word is similar to Brick in English, it is called "BRIC". There are great differences in geographical location and production factors among BRIC countries. For example, India is the second most populous country in the world after China, with a competitive population structure and a high consumption rate. In the 20th century, Russia relied on the export of oil and natural gas to rapidly accumulate national capital. However, due to its excessive dependence on the energy industry, its industrial structure experienced the worst economic recession among the BRIC countries in the financial crisis. Brazil, on the other hand, has rich and diverse natural resources, leading industrial technology and scientific level, relatively developed financial market, and its economic development has the characteristics of multi-engines. This difference has led to the division of BRIC countries in the post-crisis era. The data shows that the GDP growth rate of Brazil, Russian, Indian and China in the third quarter of 20 10 reached 6.7%, 2.7%, 8.9% and 9.6% respectively. Except Russia, the economic growth rate of the other three countries is much higher than that of developed economies such as the United States, Europe and Japan in the same period. According to the latest forecast, the BRIC countries' economic growth rate of 20 1 1 is 5%, 4.2%, 9% and 10% respectively. The performance of BRIC stock markets is different this year. By the end of February, 20 10 and 65438+20, the BOVESPA index in Sao Paulo, Brazil fell 1.93%, the RTSI index in Russia rose by 20.42%, the sensitivity index in Mumbai, India rose 13.88%, and the Shanghai Composite Index in China fell12.98. The MSCI BRIC index has increased by 3.46% this year, which is lower than the S&P 500 index's increase of 1 1.84% in the same period. At this meeting, the BRICS cooperation mechanism was initially formed. After discussion, the four countries decided to absorb South Africa to form the BRICS. As it happens, the English initials of South Africa are S, which happens to be the plural of BRICS. It seems that there is providence. Now that the leaders of the five countries have got together for the first time, there is naturally a lot to say. The first problem is undoubtedly the economy. After the financial crisis, the risk warning of the double dip in the world economy has not been lifted, and central banks all over the world are under pressure to raise interest rates. At this moment, the leaders of the five countries can coordinate economic policies and deepen economic and trade cooperation, which is not only beneficial to their respective economic development, but also beneficial to the world economy. Today, the five countries focus on economic issues, and I am afraid they will focus on the economy for a long time in the future. They will have more cooperation, communication and coordination, make a voice in the international arena and occupy more discourse power, but there is still a long way to go to form independent forces. It's no exaggeration to say so. These five countries have 30% of the global territory and 42% of the population. According to the Blue Book of Emerging Economies: Report on the Economic and Social Development of BRICS Countries (20 1 1) published by Social Science Literature Publishing House, the total GDP of BRIC countries (excluding South Africa) will increase from 15% of the world share in 2008 to 2215 years.
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After the introduction
O 'Neill was overjoyed by the hot sale of the BRIC concept, so he launched the so-called "Golden Diamond Eleven Countries" while the iron was hot, including Mexico, Indonesia, Nigeria, South Korea, Vietnam, Turkey, the Philippines, Egypt, Pakistan, Iran and Bangladesh, 1 1 emerging economies. gold brick
Subsequently, HSBC also joined the "Emerging Choir" and proposed that the future global economy will belong to "civet cats", namely Colombia, Indonesia, Vietnam, Egypt, Turkey and South Africa, which have enviable population structure and huge growth potential. Aishia, chief economist of BBVA, introduced the concept of "emerging and growth-oriented economies" to china securities journal, and selected the "shortlist" according to its contribution to global economic growth year by year. Today, in addition to the BRIC countries, the list also includes South Korea, Indonesia, Mexico, Turkey, Egypt and Taiwan Province Province of China. Compared with "Golden Diamond 1 1 country" and "Cimao 6 countries", the leading emerging economies emphasize the dynamic concept based on the absolute value of economic growth and have clear standards. The lively and extraordinary "emerging choir" is interpreting a trend; That is, networking has promoted the process of globalization, reduced the transaction costs of global investors, and changed the learning curve of economic development. Then the crisis era gave emerging economies a broader performance stage, which gradually transformed the "single goose flock" mode that Japan guided the industrial transfer in the Asia-Pacific region in the second half of the last century into a "multi-flowered goose flock". This has also pushed up the MSCI Emerging Markets Index, which measures the stock markets of emerging economies. As of February 20, 65438, its cumulative increase this year has reached 12.28%, which is much higher than the 7.82% increase of MSCI World Index, which measures the stock market performance of developed economies.
The deterioration of BRIC countries
China, Russia, India and Pakistan unanimously agreed to accept South Africa as a full member to join the BRICS cooperation mechanism. Perhaps more emerging economies will join the cooperation mechanism in the future. 20 10 is undoubtedly lucky for South Africa. In the middle of the year, the "vuvuzela" World Cup made fans around the world remember this vibrant African country; At the end of the year, another gift marked South Africa as "the fifth BRICS country". On February 28th, 65438, China's Foreign Ministry spokeswoman Jiang Yu confirmed at a regular press conference that China, as the rotating chairman of the BRICS cooperation mechanism, agreed that Russia, India and Brazil would accept South Africa as a full member. Jiang Yu said that China president Hu Jintao had written to South African President Zuma, inviting him to attend the third official meeting of BRICS leaders in China early next year. Eight years after the concept was put forward, in June 2009, the leaders of the four countries met for the first time in Yekaterinburg, Russia, and the BRIC countries evolved into an economic cooperation mechanism. 20 10 in April, the second BRICS summit was held in Brazil, and the cooperation between the four countries went further. With the gradual formation of the BRICS cooperation mechanism, the BRIC countries, as representatives of emerging economies in the world, are increasingly influential internationally. According to the International Economic Outlook released by the International Monetary Fund in June 20 10, the total GDP of BRIC countries will increase from 15% of the world share in 2008 to 22% in 20 15. By then, the total economic output of the four countries will surpass that of the United States, and the GDP of the four countries will also increase. It is precisely because of the great development potential of the BRICS cooperation mechanism that South Africa, as the largest economy in southern Africa, has always wanted to join the mechanism. Since the beginning of this year, the South African government has actively promoted, and South African President Zuma has been lobbying the BRIC countries since the beginning of this year. From April to August this year, he visited Brazil, India, Russian Federation and China. Zuma said that cooperation with these emerging market countries will bring opportunities for South Africa's economic growth. South Africa's Business Daily believes that South Africa, as the most influential African country in the world, can better represent the interests of African countries and seek greater international cooperation space for African economic development by joining the BRICS cooperation mechanism. Some experts question whether South Africa meets the standards of BRICS countries. BRIC countries are based on their rapid economic growth and relatively large population. According to the data of the World Bank in 2009, the economic scale of South Africa ranks 3 1 in the world, which is less than a quarter of that of Russia, the smallest economy in BRIC countries. However, some analysts said that in view of South Africa's important position in Africa, inviting South Africa to join the EU will be a win-win move for the cooperation mechanism between South Africa and BRICS countries. Africa is now one of the fastest growing regions in the world, and this year's economic growth is expected to reach 5%. O 'Neill, who first put forward the concept of BRIC, recently wrote in the Financial Times that there are currently more than 40 countries on the African continent, none of which can be compared with BRIC. But if these 40 countries are regarded as a whole, the growth potential of the African continent's economic scale can be comparable to that of the BRIC countries. South Africa is the largest economy and one of the most influential countries in Africa, and its GDP accounts for about one third of the total economic output of sub-Saharan African countries, which has played an important leading role in regional economic development. Data show that South Africa is the largest energy producer and consumer in Africa, and also the largest producer of gold, platinum and palladium, and its position in the world market cannot be ignored. In addition, enterprises related to South Africa play an important role in Africa's finance, electricity, telecommunications, construction, agriculture and other industries. It is also the representative of Africa in many important international organizations. It was once the only African member of the 8+5 dialogue among leaders of developing countries, and now it is the only African member of the G-20. It is precisely because South Africa is the representative of the African continent in many aspects that its accession will further expand the international influence of the BRICS cooperation mechanism and will become the gateway for BRICS countries to enter Africa. Some analysts pointed out that many South African companies have branches in southern African countries, which are geographically close and have the same customs. Their advantages in investing in these relatively underdeveloped countries are fast information and low transaction costs. If the investment and trade of the four countries can transit through South Africa, the rate of return will be significantly improved. In addition, economic cooperation will also promote the political cooperation between BRIC countries and African countries, thus enhancing the voice of emerging market countries in dealing with international issues. "BRIC" is about to become history, and a more broadly representative "BRIC" will be on the international stage. With the maturity of BRICS cooperation mechanism, more emerging economies may join in the future, and BRICS countries with greatly increased "weight" will play a more important role in international political and economic affairs.
Cause of change
Although this move was first proposed by Russia and made after full consultations among the four countries, South Africa was invited to join the BRIC countries for geopolitical reasons rather than economic relations. Although South Africa is the largest economy on the African continent (at the same time, China is also South Africa's largest trading partner), its economy is still very small. In 2009, South Africa's total population was 49.32 million, and its GDP was 288.848 billion US dollars, an increase of 4.6% compared with 276.274 billion US dollars in 2008. The South African government predicts that the GDP growth rate of South Africa will reach 3% in 20 10, including the contribution of the World Cup in South Africa to economic growth of 0.5%. Gordan, the finance minister of South Africa, recently predicted that the GDP growth rate of South Africa from 20 1 1 to 20 13 would be 3.5%, 4. 1% and 4.4% respectively. South Africa's economic scale is far less than 30% of Russia, the smallest of the BRIC countries, and its economic growth rate is not as good as the average level of ASEAN. On the other hand, in terms of per capita GDP, South Africa has reached $5,857 in 2009, far exceeding the average level of emerging economies and entering the ranks of more developed countries. Therefore, inviting South Africa to join the BRICS countries should not be considered from the perspective of economic development level.
Change forecast
[5] According to the original intention of Jim O 'Neill, who first invented the term "BRIC", Indonesia is more qualified than South Africa to be invited to join the BRICS in terms of population size and economic development speed. Regardless of population size, economic scale or economic growth rate, Indonesia is the largest economy in ASEAN; Indonesia has far surpassed South Africa. More importantly, BRIC countries have attracted global attention because they are the "leaders" of emerging economies. Judging from the stage of national economic development, Indonesia belongs to an emerging economy, while South Africa is already a relatively developed country. Major countries
China
The symbol of BRICS countries
China is the most dynamic economic region in the world, attracting the most foreign investment and becoming the production base of the largest enterprise group in the world. China has 654.380+03 billion residents, which is the most populous country in the world. Abundant, cheap and reliable labor force has promoted China's economic prosperity. In addition to the unparalleled price advantage, the quality of employed people is also constantly improving. However, there is also a crisis hidden under the engine of world economic growth. Although the Bank of China has set loan restrictions, the hidden danger of overheating has not been eliminated; The huge income scissors difference between urban and rural areas and individuals also makes the development unbalanced and endangers social stability; Environmental pollution is becoming more and more serious. China stock market lacks independent and effective supervision mechanism; A series of problems, such as insufficient raw materials and energy, have created bottlenecks for China's economy.
Brazil
The gross national product of Brazil is the highest in Latin America. In addition to the traditional agricultural economy, production and service industries are also booming, and they have natural advantages in raw material resources. Brazil has the highest reserves of iron, copper, nickel, manganese and bauxite in the world. In addition, emerging industries such as communications and finance are also on the rise. Cardoso, the former president of Brazil and leader of the Workers' Party, formulated a set of economic development strategies, which laid the foundation for the later economic revitalization. This reformed policy was later carried forward by the current President Lula, and its core contents are: introducing a flexible exchange rate system; Reform the medical and pension systems; Streamline the system of government officials. However, some critics believe that Xiao He's defeat, Xiao He's defeat, and the constant corruption and bribery within the Workers' Party have shaken the ruling foundation of the current government to a great extent. Is the economic take-off on the fertile soil of South America sustainable? The risks behind the opportunities are also enormous. Therefore, long-term investors based on the Brazilian market need strong nerves and enough patience.
India
India is the most populous democracy in the world.
[6] More than 6,000 listed companies have also made their stock market unprecedented. In the past 20 years, India's economy has grown steadily at an average annual rate of 5.6%. Behind the economic front is a high-quality employment army. According to preliminary statistics, in the eyes of about 23 million university graduates in India, western enterprises are becoming more and more attractive. One quarter of the largest 1000 companies in the United States use software developed in India. Indian pharmaceutical industry also occupies an important position in the global market. 40% of the world's "generic drugs" (drugs whose patent period has expired) are produced in India. This industry has driven disposable personal income to rise rapidly with a double-digit growth rate. At the same time, a number of middle classes have emerged in Indian society that pay attention to enjoyment and are willing to spend. In addition, some large-scale infrastructure projects, such as the 6000-kilometer-long expressway network and the booming export trade, have also provided powerful successors for economic development. Of course, the Indian economy also has weaknesses that cannot be ignored, such as imperfect infrastructure, high fiscal deficit, and excessive dependence on energy and raw materials. Politically, changes in social ethics and tensions in Kashmir may lead to economic turmoil.
Russia
The Russian economy, which experienced the 1998 financial crisis, is like a phoenix reborn from the ashes. Recently, international Russian President Dmitry Medvedev arrived at Sanya Phoenix International Airport.
In the credit rating, it was rated as investment grade by Standard & Poor's, a well-known securities research institution. The rise in oil and gas prices has undoubtedly put wings on the Russian economy. The exploitation and production of these two industrial veins control one-fifth of the national output today, creating 50% of the export trade output value and 40% of the national income. In addition, Russia is the largest producer of palladium, platinum and titanium. Similar to the situation in Brazil, the biggest threat to the Russian economy is also hidden in politics. Although Putin's government has successfully increased the gross national product by 30% during its five-year term, and the disposable national income has also increased significantly, the lack of democracy reflected by the government in handling the case of Jocks Oil Company has become a poison of long-term investment, which is tantamount to an invisible sword of Damocles. Although Russia has a vast territory and abundant resources, the government can't sit back and relax in the face of future development if it lacks the necessary institutional reforms to effectively curb corruption. If Russia is not satisfied with being a gas station in the world economy for a long time, it is imperative to devote itself to the process of modernization and reform and improve production efficiency. Investors should pay close attention to the changes in current economic policies, which is another important factor affecting Russian financial market besides raw material prices. Russia's two major challenges in BRICS countries: curbing inflation and reducing deficits. With the sustained economic recovery, how to ensure sustained and healthy economic growth this year is the top priority of the Russian government. Judging from the economic situation in Russia, curbing inflation and reducing the deficit are two major challenges facing the government at present. 20 10 Russian economy continued to recover, but after the second half of the year, due to the weakening of the recovery momentum of major economies in the world, China suffered a rare drought, and its economic growth slowed down, with an annual economic growth of only 4%. Driven by rising international energy prices, Russia's economy grew by 4.4% in the first two months of 201/kloc-0. The government predicts that the economic growth this year will be about 4.2%. Affected by last year's drought, the price of agricultural products (00006 1) rose sharply, which led to an increase in food prices. Last year, the inflation rate reached 8.8%, far exceeding the government's expectation. The inflation situation is still grim this year. Driven by rising food prices, the consumer price level in Russia rose by 9.7% in February compared with the same period last year. Russian President Dmitry Medvedev called for the annual inflation rate to be controlled at 4% to 5% in the next three years. In order to achieve this goal, the Russian government began to intervene in the market with grain reserves in February this year. In addition, at the end of February, the Russian central bank announced that it would raise the refinancing rate by 0.25 percentage point, which was the first time that the Russian central bank raised interest rates since April 2009, and released a signal of moderately tightening credit to the market. Although various measures have been taken to curb inflation, experts generally believe that Russia's future inflation level will remain at a high level. The Russian Ministry of Economic Development predicts that the inflation rate will be 6% to 7% this year. However, Dmitry Belousov, chief expert of the Russian Center for Macroeconomic Research and Short-term Forecasting, believes that even if natural disasters do not occur again this summer, Russia's inflation rate will remain at 8% to 8.3%. Yevgeny Yasin, a famous Russian scholar, believes that in order to stimulate economic development, the government has to increase fiscal expenditure and increase the scale of loans, which will further aggravate inflationary pressure, and the annual inflation rate may reach 8.9%. In terms of fiscal deficit, Russia's fiscal deficit last year was 1.795 trillion rubles (about 63.9 billion US dollars), accounting for about 3.9% of GDP. The Ministry of Finance believes that this year's deficit level may be lower than 2% due to the favorable international oil market. Finance Minister Kudrin said that if the oil price reaches $0/00 per barrel, Russia is expected to achieve fiscal balance in 20 14 years. However, analysts believe that as a major energy exporter, rising oil prices can greatly increase fiscal revenue and foreign exchange reserves, but it is not always beneficial to the Russian economy, because excessive oil prices will curb consumer demand in other countries, further aggravating global inflationary pressures, and then bringing imported inflationary pressures to Russia. In addition, it will also lead to the influx of hot money into Russia and increase economic risks. Experts have different views on the future economic trend of Russia. The Institute of Development Center of Russian Higher School of Economics believes that there is no strong economic growth point in Russia due to the weakening of economic stimulus policy, the limited contribution of investment and consumption to economic growth, and the possible fluctuation of international oil prices, so the pace of economic growth may continue to slow down next year. The Institute of Economic Forecasting of the Russian Academy of Sciences believes that oil prices will continue to rise in the next few years. Driven by this, Russia's economic growth is expected to reach 6.9% next year, while the inflation rate will drop to 7.8%. From a deeper perspective, the structural defects of Russia's economy restrict its macroeconomic development, and its economic growth relies too much on energy and raw materials, especially oil and gas exports. Russian Prime Minister Vladimir Putin said earlier this year that more than half of the fiscal revenue of 20 10 comes from the energy sector. This single economic growth model makes the Russian economy lack of endogenous growth momentum, resulting in low ability to resist external risks. Although Russia has vigorously advocated economic restructuring in recent years to reduce its excessive dependence on the energy industry, the economic restructuring and the transformation of economic growth mode were not achieved in a day. Under the circumstances that the new economic growth point has not yet formed and the external economic environment is still very uncertain, it is still an extremely arduous task for the government to maintain stable economic growth. [7]
South Africa
It is precisely because of the great development potential of the BRICS cooperation mechanism that South Africa, as the largest economy in South Africa, and South African President Zuma attended the BRICS Summit.
Body, always want to join this mechanism. Since 20 10, the South African government has actively promoted it, and South African President Zuma has been lobbying the BRIC countries since the beginning of the year. He visited Brazil, India, Russian Federation and China from April to August, 1965. Zuma said that cooperation with these emerging market countries will bring opportunities for South Africa's economic growth. The inclusion of South Africa in the cooperation mechanism has also enabled the BRIC countries to further strengthen their economic and trade relations with southern African countries. Many South African companies have branches in southern African countries, with similar geographical locations and the same customs. Their advantages in investing in these relatively underdeveloped countries are fast information and low transaction costs. If the investment and trade of the four countries can transit through South Africa, the rate of return will be significantly improved. [8] In addition to the economic field, South Africa's participation in the BRICS cooperation mechanism will also help the five countries to coordinate their positions on major global and regional issues such as global climate change, UN reform and poverty reduction, and better build a fair and balanced new international political order. Solving employment is the most important challenge facing South Africa at present. It is not enough to rely solely on South African enterprises. This summit provides an excellent opportunity to attract foreign investment. South Africa's infrastructure development lags behind, especially the railway network construction lags far behind other BRICS countries, which has become a bottleneck restricting the flow of goods and services. This industry can provide many investment opportunities for foreign investors. In addition, South Africa's single energy structure and tight power supply are another important factor restricting the further development of South Africa's economy. To this end, the South African government has proposed to vigorously develop new energy sources and increase the application ratio of new energy sources such as solar energy and wind energy. Commercial cooperation is an important part of BRICS cooperation mechanism. Other BRICS countries have a leading edge in the development and application of new energy. For example, China's solar energy products are very popular in the South African market, Brazil has accumulated rich experience in developing bioenergy, India and Russia's achievements in research and development of new energy technologies are worth learning, and South Africa's coal-to-oil technology is in a leading position in the world. BRICS countries can increase cooperation in the field of new energy. South African mining enterprises hope to cooperate with BRICS investors, but such cooperation should not only "give them fish", but also "give them fish", which can effectively help local enterprises to expand production capacity, improve workers' skills and benefit local communities. As the only African member of the BRICS cooperation mechanism, South Africa is also the gateway for BRICS trade and investment to enter South Africa. With the help of the sales and production network of South African enterprises in southern Africa, the products and services of BRICS countries can enter southern Africa 15 countries and regions in a timely and convenient manner. South Africa's participation in the BRICS cooperation mechanism has given emerging economies a voice in Africa, making them more representative. Members of the BRICS countries have become the largest trading partners of Africa and South Africa, and other BRICS countries have realized the huge development potential of the African market and will seize the opportunity. In the next few months, Africa will establish a free trade zone among regional development economic cooperation institutions, including the development of southern Africa, the market development of eastern and southern Africa and the economic development of western Africa. Africa is glad that other BRICS partners regard South Africa as a "springboard" to enter the African market, and are willing to provide suggestions on Africa's economic development opportunities. Enhance the willingness to cooperate
The fruitful cooperation among BRICS countries not only safeguarded the interests of developing countries, but also brought important development opportunities to the member countries themselves, and enhanced their willingness to further strengthen cooperation. Orlov, director of the Institute of International Studies of Moscow Institute of International Relations, believes that the BRICS cooperation mechanism is of great significance to Russia. With the gradual development of this mechanism, Russia can enhance its political influence on the international stage and objectively enhance the weight of Russia's dialogue with the United States and the European Union. "This cooperation mechanism will also enable Russia to obtain new financial and economic markets, so that Russia can not only act as an energy exporter, but also strengthen cooperation with other member States in the fields of modern technologies such as nuclear energy, aerospace and military affairs in the future." Orlov said. Maattola, CEO of South Africa's International Marketing Committee, said that joining the BRICS cooperation mechanism will help South Africa attract more foreign investment, expand the scale of trade and further enhance its international competitiveness. South Africa's "Post Guardian" published an article pointing out that the inclusion of South Africa in the BRICS cooperation mechanism will enhance South Africa's position in international politics and increase its voice in the international arena, which is conducive to its political rise.
Increase strength
20 1 1 At the beginning of the year, two shocking news came from the world economy: China surpassed Japan to become the second largest economy in the world, and Brazil became the seventh largest economy in the world. In addition, the Blue Book of Emerging Economies released in Beijing a few days ago predicts that the economic aggregate of BRIC countries will surpass that of the United States in 20 15, and the GDP increase will account for one third of the world increase. With the increasing proportion of BRICS countries in the global economic aggregate, the influence of this mechanism in the international political and economic arena will be further enhanced, and countries outside the mechanism will also increase cooperation with countries within the mechanism, thus enhancing the international status of this mechanism. At the same time, we should see that challenges and opportunities coexist. The BRICS cooperation mechanism has just gone through three years, and the cooperation experience is not very rich, and there is still room for improvement. In addition, due to historical or practical interests, there are still some misunderstandings and differences within the BRICS countries. All these require member States to strengthen dialogue and exchanges, truly respect each other, understand each other, enhance mutual trust, and achieve the goal of mutually beneficial cooperation on this basis. Map of BRICS countries
Brazil is the largest developing country in the southern hemisphere, with a land area and population accounting for more than one third of Latin America. Brazil's economy has been growing rapidly in recent years, with an increase of 5. 1% in 2008, with a GDP of $65,438+$0.23 trillion and a per capita GDP of $6,485. Brazil has become one of the important economic powers in the world. Brazil
[13] 199 1 year 65438+February 2 1 disintegration of the former Soviet Union, February 25, 65438+February 25, the official name of Russia was changed to Russian Federation. Due to the high oil price in recent years, Russia's foreign exchange and gold reserves have jumped to the third place in the world. However, Russia is still the weakest country among the BRIC countries. Russia
India is regarded as a symbol of the Asian economic miracle. Since 199 1 began economic reform, India's GDP has been growing steadily, with an average annual growth rate of about 6%. It is reported that by 2020, India will be one of the fastest growing countries in the world. India
[15] International public opinion believes that China's economic development is the most prominent among the BRIC countries. Over the past 30 years of reform and opening up, China's economy has grown at an average annual rate of over 9%. According to the research report of Goldman Sachs, as long as the current development trend is maintained, the economic scale of China will surpass that of Japan in 20 16 and the United States in 20041year. China
[16] 2010/0 In February, South Africa officially joined the BRICS cooperation mechanism, and its stable economic development attracted widespread attention. South Africa is the fourth largest mineral country in the world, with the reserves and output of gold and diamonds ranking first in the world and the mining industry ranking first in the world. South Africa makes full use of the international market to promote the rapid growth of trade and investment. Relying on eight major ports such as Durban and Cape Town, South Africa's trade in goods can directly radiate to neighboring developed countries, and at the same time, it also provides a strong support for the economic development of Africa as a whole. South Africa