[ANALYSIS] How to judge the success of the BRICS summit

This article appeared for the first time on The Conversation

The 10th BRICS Summit to be hosted by South Africa will be closely followed. It comes at a time when extraordinary global political and economic challenges are facing the world.

The BRICS bloc is made up of 5 of the main Southern countries – Brazil, Russia, India, China and South Africa. [19659003Thechallengesfacedbytheworldincludeproblemsspecifictoeachcountrylinkedtopovertyandunequalinequalityinclimatechangeandaglobaleconomicsystemthatfavorstheinterestsofbusinessinparticularintechnologyandfinance

Immediate policy challenges are linked to the changing dynamics of global economic governance.

The current world power, the United States, seems to want to launch trade wars with China and the European Union. Africa can not avoid being affected by a trade war between these three economic powers, which are its three largest trading partners.

The United States is also withdrawing from the multilateral governance arrangements it has created. For example, he retired from the next United Nations Conference on Migration and the United Nations Human Rights Council. And Washington is effectively paralyzing the World Trade Organization (WTO) by refusing to accept the appointment of new judges to the WTO Appellate Body.

These developments create an unstable and unpredictable situation for all countries. Small players on the world stage, such as South Africa and other countries of the continent, risk becoming collateral damage in the destruction of current global governance arrangements.

Faced with all these complex challenges, how to judge the success of the BRICS summit?

Three tests can be used: are the BRICS strengthened? What will be the benefits for Africa? And how does the bloc plan to influence the reform of global economic governance?

BRICS REINFORCEMENT

One of the objectives of the next summit should be to strengthen relations between BRICS partners. to measure this will be to examine the number and quality of agreements to emerge from the top. A successful summit will result in a series of substantive agreements. The world will be able to review the results in the statement issued at the end of the meeting

It is important to note that the summit is the supreme event in a year-long process. Throughout the year, various groups of BRICS government officials, civil society groups and technical experts met to discuss issues of common interest.

They included technical groups such as the BRICS Water Forum and a Committee on Customs Cooperation. Others have involved political issues, such as meetings of foreign ministers and officials who help guide their leaders to the summit (known as the Sherpas).

Participants in these meetings attempt to reach agreements on issues of mutual interest. create a BRICS vaccine research center – or find ways to collaborate in sectors such as tourism. Their job is also to try to resolve disputes.

These efforts fuel the work of the summit while the Sherpas prepare the declaration of what has been agreed.

The details of the agreements that were signed will be published in a statement at the end of the summit

BRICS IN AFRICA

Since the theme of this year's summit is: "BRICS In Africa: Collaboration for Inclusive Growth and Shared Prosperity in the 4th Industrial Revolution ", it is reasonable to expect that the BRICS summit will produce benefits for Africa.

One of the advantages for the continent would be a signal from the leaders that BRICS members are ready to pledge to fund infrastructure projects on the continent. This is important because Africa is putting in place a new and ambitious continental free trade agreement. A successful implementation will require the construction of an infrastructure capable of connecting the continent to the interior of the country and with other parts of the world.

The BRICS could position itself to play a crucial role in financing these infrastructure projects. The new BRICS development bank and the funds that China has created to support its One Belt One Road initiative.

Thus, the success of the summit will be tested to determine whether it generates new financing for sustainable infrastructure in Africa and the nature of funding.

REFORM OF GLOBAL GOVERNANCE

One of the common goals of all BRICS states is the reform of global economic governance structures such as the World Bank and the International Monetary Fund. (IMF). The block was not particularly successful in this mission. But this year can be a good time to promote reform.

The actions of the United States have undermined their leadership position in the world and may have made other countries more open to governance reforms in major international economic organizations. This is particularly relevant for the IMF, which is reviewing its quota allocations. A change would lead the world body to better respond to the concerns of its poorer member countries.

There is a longstanding call for the inclusion of a third African president on the IMF's board of directors. It is unacceptable that the 46 countries of sub-Saharan Africa have the lowest level of representation from all regions of the IMF's board of directors. South Africa should push the BRICS to support this call.

The BRICS should also support the IMF to become more accountable to the countries affected by its operations. This could be done by requiring the IMF to create an independent accountability mechanism. It is currently the only multilateral financial institution that does not have one.

One of the main advantages of the BRICS lies in their ability to lead efforts to significantly reform the global economic system. It is therefore up to the citizens of the BRICS countries to hold their governments accountable for realizing this potential.

Danny Bradlow is SARCHI Professor of International Law of African Development and Economic Relations at the University of Pretoria