Lecturers envision new steps by BRICS

Martyn Davies, managing director of Emerging Markets and Africa at Deloitte, delivers a speech during the event of Vision China in Johannesburg, South Africa July 17, 2018. [Feng Yongbin/chinadaily.com.cn]

Davies said he believes the most strategic play for BRICS is China’s engagement with Africa, and Africa’s engagement with China.

“The engagement between the two sides truly is a partnership for mutual benefits,” Davies said. “The challenges are how to scale the collaboration and the alignment of interests at the global level to counter the negative trend of protectionism and de-globalization, trends that undoubtedly will significantly impact the South African economy.”

Davies said he first thought that because the BRICS countries are scattered on different continents, it was hard to forge partnerships. But he said dealing with the recent development of isolationism, uni lateralism and protectionism coming from Washington, those subjects will be a front for them to coordinate stances.

“I am looking forward to seeing how the BRICS summit talks about these issues, what resolutions are put forward and how emerging markets can increasingly, in a more coherent fashion, start to respond to the challenges and the turbulence in today’s global political economy,” he said.

Davies has also shown how China has become an economic growth engine driving development for different regions since the beginning of the century, citing an example that the rapid development in East Africa in recent years has come in tandem with China’s economic growth.