An assessment of South Africa’s membership in the BRICS formation in relation to IBSA and SADC
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Date
2017
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University of Zululand
Abstract
The role and importance of the so-called BRICS and the integration of South Africa into the grouping has been debated in the parlance of international relations. Many accounts have been made on this topic focusing mainly on the question of why South Africa sought BRICS membership and why it was granted the membership. These accounts do not only ignore the questions around the benefits and constraints for South Africa, but also bypasses the critical question of the impact of the grouping on the international monetary system and international financial institutions. This study therefore has been motivated by the desire to explore the prospects and the pros and cons that befall South Africa for being a member of the BRICS grouping. The study is also driven by the need to assess (to a lesser extent) the implications of the rise of the grouping to the international financial institutions. In order to fulfil these aims, a qualitative research method has been chosen. The study is strictly based on secondary sources such as textbooks, official documents from the Department of International Relations and Cooperation of South Africa, articles, magazines and newspapers, as well as internet resources. The analysis has been made possible through the employment of two theoretical frameworks: constructivism approach and theory of regional integration, both of which underpinned the study. Through extensive engagement with the literature reviewed and the historical analysis, the study found there are more prospects than constraints for the rainbow nation. The study also argues that the BRICS grouping would not make any substantial change to the nature of the international financial system at this stage, but would only make an additional balance of payment available to the countries requiring it. Therefore as recommendation, South Africa must think outside the framework of these groupings, and rely less on them for its advancements.
Description
A thesis submitted to the Faculty of Arts in fulfillment of the Degree of Master of Arts (Development Studies) in the Department of Anthropology and Development Studies at the University of Zululand, 2017
Keywords
BRICS --international relations --SADC