The webinar will bring together a panel of experts to consider ongoing international and domestic developments and reflect on South Africa and the BRICS’ engagement on these issues. This conversation will be the first in a series of dialogues and research efforts between SAIIA and the SABTT.
The global coronavirus pandemic has underscored the fragility of economies to sudden, adverse, and unpredictable exogenous shocks across the globe, South Africa included. This fragility has been exposed at both a macro, as well as a grassroots level. At a macro level, emerging markets and developing economies have faced acute fiscal challenges, as revenue streams from trade, tourism, remittances, and natural resources contracted sharply, while increased spending and fiscal stimulus sought to manage the health and socio-economic impacts of the pandemic. At the grassroots level, people have experienced failing businesses, retrenchments, or increased economic hardship because of the pandemic.
Following more than a decade since South Africa’s inclusion into the BRICS, intra-BRICS relations have grown in scope and strength, positioning the BRICS grouping as a key partner as South Africa seeks to rebuild the economy in the wake of the global pandemic. Given the changing domestic and global milieu, this policy dialogue will explore South Africa’s economic development priorities within the BRICS to foster greater cooperation with the bloc.