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South Africa joins emerging markets bloc

South Africa joins emerging markets bloc

Heads of the world's leading emerging economies will gather in China in mid-April to discuss post-crisis financial reforms and mark the inclusion of South Africa as a member of the bloc.
Qu Xing, president of the government think tank China Institute of International Studies, said Wednesday that China had invited South Africa to join the group last year to make it "more representative."
The informal bloc of developing markets had originally included Brazil, Russia, India and China _ the world's biggest developing economies. Though South Africa's overall economy is substantially smaller, it accounts for 40 percent of sub-Saharan Africa's economy.


Updated : 2021-03-01 22:45 GMT+08:00