Nelson Almeida—AFP/Getty Images

Chinese President Xi Jinping (third from left, first row) moves off of his photo position to greet leaders of the CELAC group of Latin American and Caribbean states, before the official picture of their summit, in Brasilia, last July. Xi had travelled to Brazil for a summit of the BRICS group of emerging powers—Brazil, Russia, India, China and South Africa—and South American presidents.

The BRICS Bank: China’s Drive to Shake Up Development Finance

A China in Africa Podcast

by Eric Olander, Cobus van Staden, Sanusha Naidu
December 6, 2014

Eric Olander

Eric Olander is the Founder of the China Africa Project, producer of the China in Africa Podcast which he co-hosts. Olander is a media executive based in Shanghai, China. Currently, he is employed by...

Cobus van Staden is the co-host of the weekly China in Africa Podcast, produced by the China Africa Project. Van Staden is currently the Senior China-Africa Researcher at the South African Institute...

Brazil, Russia, India, China and South Africa (aka the ‘BRICS’) are moving forward with an ambitious plan to shake up the clubby world of development finance. The new BRICS bank announced over the summer 2014 is expected to have a profound impact on the African development finance sector as part of China’s broader effort to re-orient the international system away from the West. Pretoria University research associate Sanusha Naidu is a leading expert on the BRICS and joins us to discuss the implications of China’s agenda on African development finance.

Recommendations

“Pathway to Sustainable Growth,” Sanusha Naidu, The Sunday Independent, July 20, 2014
“South Africa and the BRICS: Prospects for the Future,” Sanusha Naidu, South African Foreign Policy Initiative, April 24, 2013

Topics:

Business, Economy, Law, Politics

Keywords:

Podcast, BRICS, Brazil, Russia, India, South Africa, World Bank, International Monetary Fund