BRICS Summit 2012: Inching towards a BRICS trade and investment agenda

The paper argues that while BRICS nations share complementary economic relationships, their individual state-led strategies to promote manufacturing and disputes over currency valuation create friction. It suggests that the group could find common ground by collaborating to resuscitate the WTO Doha round, engaging with China's shift toward a consumption-led economic model, and coordinating a common position on currency reform within the G20 to reduce global protectionism.

• BRICS nations face internal tensions due to competing goals of promoting domestic manufacturing and disputes over currency valuation, particularly regarding China's currency peg which is viewed as unfair manipulation by partners like Brazil and South Africa.
• The individual economic constraints of BRICS members vary: Brazil faces infrastructure bottlenecks and currency appreciation; South Africa struggles with anaemic growth in Europe; Russia has an undiversified economy; and India's political economy hinders substantial market openings.
• China is undergoing a strategic shift from an export-led to a consumption-led economic model due to rising domestic costs, including skilled labour shortages and increasing energy and land costs.
• The author proposes three pillars for a BRICS trade agenda: collaborating to lead the resuscitation of the WTO Doha round, explicitly engaging with China's 12th Five Year Plan and currency reform, and forming a common position on currency and global imbalances for the G20.

APA

South African Institute of International Affairs (2012). BRICS Summit 2012: Inching towards a BRICS trade and investment agenda. https://saiia.org.za/research/brics-summit-2012-inching-towards-a-brics-trade-and-investment-agenda/

Chicago

South African Institute of International Affairs. BRICS Summit 2012: Inching towards a BRICS trade and investment agenda. 2012. https://saiia.org.za/research/brics-summit-2012-inching-towards-a-brics-trade-and-investment-agenda/.

Wikipedia

{{cite report |author=South African Institute of International Affairs |title=BRICS Summit 2012: Inching towards a BRICS trade and investment agenda |date=16 March 2012 |url=https://saiia.org.za/research/brics-summit-2012-inching-towards-a-brics-trade-and-investment-agenda/ |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{southafricaninstituteofinternationalaffairs2012brics, author = {{South African Institute of International Affairs}}, title = {{BRICS Summit 2012: Inching towards a BRICS trade and investment agenda}}, institution = {South African Institute of International Affairs}, year = {2012}, month = mar, url = {https://saiia.org.za/research/brics-summit-2012-inching-towards-a-brics-trade-and-investment-agenda/}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }