Invitation to join Bric

The decision this week by the Chinese government to invite SA to join the Bric (Brazil, Russia, India and China) group of emerging countries has caught many analysts off-guard.

According to Chinese Foreign Ministry spokesman Jiang Yu, Chinese President Hu Jintao has invited President Jacob Zuma to attend the third Bric leaders' meeting to be held in Beijing this year.

Yet many analysts are sceptical about SA's suitability as Bric material.

SA not the fifth BRIC in the wall

South Africa continues to strive to add an S to the so-called BRIC group of countries. But local experts are not convinced it's a good idea.

The possibility of SA joining the group of developing countries consisting of Brazil, Russia, India and China continues to make news. It again came under the spotlight at the G20 summit in Seoul last week when Russian President Dmitry Medvedev reportedly said SA had "applied" to join the BRIC grouping.

But local experts are not convinced it would make sense.

The HSBC CEO said after BRICs look to CIVETS for growth

In light of the proposed takeover of Nedbank by HSBC, it is interesting to note what the HSBC CEO said in April:

Colombia, Indonesia, Vietnam, Egypt, Turkey and South Africa will take over as the new BRICs, as Brazil, Russia, India and China were dubbed a decade ago.

"Each has a very bright future," HSBC CEO Michael Geoghegan said of the CIVETS, named after the cat-like animals found in some of the countries. "Each has large, young, growing population. Each has a diverse and dynamic economy. And each, in relative terms, is politically stable."