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Vol 4 (AAC) No 3

Published 1st January 2011

Building without BRICs

Feeling a little slighted by China’s invitation to South Africa to join the BRIC emerging market group, Seoul wants to trade its way to the top

China’s invitation to South Africa – rather than South Korea – to join the developing-country top table group of Brazil, Russia, India and China in December has irritated policy-makers in Seoul. South Korea’s substantial economy and growing geopolitical weight in Asia should have made it a shoo-in. Yet the BRIC grouping was so named by a Goldman Sachs banker: it has no formal organisation or defined policy agenda.

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