NICHOLAS SHUBITZ: This is how Brics membership could boost bloc and Zimbabwe
While China and India aim to exploit the country’s mineral wealth, the bloc could facilitate access to loan capital and increase export revenues
The Brics bloc’s share of global GDP has overtaken that of the G7 in terms of purchase power parity, with the gap expected to widen as more countries join the bloc. Potential candidates include Saudi Arabia, Iran, Argentina, Indonesia, Nigeria, Turkey, Mexico and the United Arab Emirates. Now Zimbabwe has expressed interest in joining.
With one of Africa’s best-educated populations and a rich endowment of natural resources, Zimbabwe stands to benefit greatly from Brics membership. Having faced years of public policy-induced economic decline, worsened by Western sanctions, the nation has struggled to grow its economy and stabilise its currency despite numerous interventions. ..
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