Different size, different growth prospects, different issues and decidedly different league.
South Africa, in its current state with current policies and current trajectory is in no danger of making BRIC become BRICS (Brazil, Russia, India, China and South Africa).
This recent article shows some relevant and credible people agree.
Goldman Sachs Asset Management chairperson Jim O’Neill, who coined the term BRIC nine years ago, told last week’s Reuters 2011 Investment Outlook Summit he was constantly getting e-mails suggesting he added or subtracted countries from the acronym.
South Africa, at a population of under 50m people, is just too small to join the Bric ranks, O’Neill says.
“How can South Africa be regarded as a big economy? And, by the way, they happen to be struggling as well.”
Of course, I don’t think Nigeria is anywhere close either.