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The BRICs and Africa: Emerging Markets and South-South Cooperation

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South-South Cooperation

Part of the book series: International Political Economy Series ((IPES))

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Abstract

Since the 1990s, with the dismantling of the Soviet Union and the end of the Cold War, there has been a re-balancing in global politics and economics and the impact has been felt in Africa as well. The mineral-rich continent has seen major changes as the older patrons, no longer having Cold War interests, have abandoned their clients, who, in many cases, were removed from office. There is now relatively more democratization and peace across Africa, as well as economic growth. South Africa (SA) and others are currently being projected as part of the next group of emerging markets (N-11) by Goldman Sachs (Wilson and Stupnytska, 2007). Countries with resources can now negotiate terms and get the most favourable rates because of intense competition and demand for their resources as they are no longer dependent on Western multinationals. This has resulted in unprecedented growth in some of Africa’s previously backward states like Sudan, Angola, and most notably, Rwanda.

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Authors
  1. Sanjukta Banerji Bhattacharya
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Editors and Affiliations

  1. Centre for African Studies, University of Mumbai, India

    Renu Modi (Director) (Director)

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© 2011 Sanjukta Banerji Bhattacharya

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Bhattacharya, S.B. (2011). The BRICs and Africa: Emerging Markets and South-South Cooperation. In: Modi, R. (eds) South-South Cooperation. International Political Economy Series. Palgrave Macmillan, London. https://doi.org/10.1057/9780230316812_6

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