The big development at the current BRIC summit in China is the inclusion of South Africa. Traditionally alinged with the US (more or less) South Africa is now looking to Brazil, India, China, and to a lesser extent Russia in an effort to define its economic future. What does SA bring to the table? It is the doorway to the raw materials of Africa, not the least of which is gold.
"On 14th April South Africa will formally join Brazil, Russia, India and China in the Brics forum, to be held in Hainan, China. As South Africa’s minister for investor relations has said: “We do not speak for South Africa alone but also for all other African countries”; so “not only South Africa but a larger African market of a billion people” is the real addition to this forum." Click here for the story.