South African scholar: BRICS means a lot to emerging markets

BRICS means a lot not only to emerging markets among its member countries,but also to those beyond BRICS, a South African scholar has remarked.

(Photo courtesy of the interviewee)

“You have all continents involved in BRICS and I think that that in itself brings in an advantage, particularly for opening of markets in terms of the trade of goods and services,” said David Monyae, associate professor of International Relations and Political Science and the Director of the Centre for Africa-China Studies at the University of Johannesburg in South Africa.

The 14th BRICS Summit was held on June 23, 2022, with the theme “Foster High-quality BRICS Partnership, Usher in a New Era for Global Development.”

Since its founding in 2006, BRICS has travelled a remarkable 16-year journey. In order to achieve a number of ground-breaking results and significantly contribute to global economic growth, the reform of the global governance system, and international peace and stability, BRICS countries have been enhancing mutual political trust, deepening practical cooperation, and advancing people-to-people exchanges.

With global governance facing mounting challenges, Monyae thinks that these challenges emanate from a lack of consensus and the non-viability of the post 1945 multilateral structures.

“I think BRICS plus mechanisms enlarge the voice of the Global South. They will strengthen that voice in discussions and negotiations in other platforms,” Monyae pointed out.

During the BRICS Johannesburg Summit in 2018, the BRICS Partnership on New Industrial Revolution (PartNIR), jointly put forward by China and South Africa, was adopted. The PartNIR is not only for BRICS countries but also for other emerging economies and developing countries.

China has secured a victory in the battle against poverty, meeting the poverty eradication target set out in the United Nations’ 2030 Agenda for Sustainable Development 10 years ahead of time. The country also aims to have its own CO2 emissions peak before 2030 and achieve carbon neutrality before 2060. Monyae thinks these are lessons for Africa to learn.

“The lessons of good governance are there and one hopes that some of the BRICS countries, particularly our own country, South Africa, would learn a great deal through its membership in BRICS, as well as the entire African continent that is so close to China,” Monyae noted.