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this post was submitted on 25 Aug 2023
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I still can't believe that Goldman Sachs is partially responsible for this.
OOTL, what did they do?
Goldman Sachs named BRICS. It was originally meant to be a "hottest place to invest" thing for investors. That's why South Africa is in the original group, when it honestly doesn't match the other 4 in size or influence.
They were probably going to come together anyways, but South Africa being part of the original 5 is due to Goldman Sachs imo.
SA has a good amount of natural resources even if their population and economy is smaller.
They also are at a geographical point for global south trade that will see their importance grow. Same geography is why they end up as a fiber optic hub for projects like the BRICS Cable.