BRICS and Junk status

[Pitbull]

Source:

South Africa's downgrade on Monday after the nation's finance minister was fired means three of the five BRICS nations now have junk credit assessments at S&P Global Ratings

I was actually speaking to one of our analysts on yesterday saying the same thing in a manner of speaking. The BRICS nations are attracted to Risk this would explain the Rand not making a complete nose dive. We still have China and Russia in the BRICS which hugely support SA. Things might not be as dark as we all think. But Losing out on markets like the US and UK surely will make us feel it.

 

[3WA]

BRICS money is really just Chinese, and they may be revising their opinion on risky lending.

http://www.huffingtonpost.com/entry/venezuela-china-investment-africa_us_5775ade3e4b04164640f6297

Russia obviously has great interest in us, given the nuclear deal, but if the nuclear deal goes through as Putin plans, I am almost certain we would default on it, and therefore would no longer be able to count on Russian support.

Not really certain what potential there is with India and Brazil.

 

[access]

you would think there are major changes to ease trade and tourism between these countries. there are a few minor things but..

seems like it only gets better for the guys in charge as usual

 

[JStrike]

you would think there are major changes to ease trade and tourism between these countries. there are a few minor things but..

seems like it only gets better for the guys in charge as usual

Visa restrictions between South Africa and Russia just got relaxed.
But the biggest issue is our hospitality industry does not cater to Russian or Chinese.
If you go to Cannes, every restaurant's menu has English, French, Italian and Russian. Chinese is starting to make a showing as well.
The staff at hotels can speak all the above languages to various degrees.
Every restaurant in Cape Town : English only. Ditto for hotels

 

[R13...]

Every restaurant in Cape Town : English only. Ditto for hotels

This is a strange and poor business decision given the increasing number of Chinese tourists.

I imagine Zuma has assurances that he'll be able to get funding for his nuclear looting from within Brics at favorable rates despite being junked. With unfavourable conditions like using certain companies and labour (the Chinese will want to employ Chinese in return for lending money & the Russians will want their companies to get the contracts). Those two are likely foreign beneficiaries of the nuclear build. Locally, it'll be Zuma (and his clan), the Guptas and everyone else who's worked to keep him in power plus his many friends in KZN.

 

[JStrike]

This is a strange and poor business decision given the increasing number of Chinese tourists.

It is a strange and poor business decision. But not all that unusual in the English speaking world. We expect everyone to speak English. In Europe, business is far more proactive about catering to tourists with money

 

[Greylor]

You could say that they're....sh*tting BRICS.

YEEEEEEEEEEEEAAAAAAAAAHHHHHHHHHHHHH!

 

[NarrowBandFtw]

Every restaurant in Cape Town : English only. Ditto for hotels

I'm gonna go ahead and guess you haven't been to "The Italian Club" near Milnerton, or the "Deutscher Verein Kapstadt" in the gardens or any of the Tong Lok sit-down restaurants ... English only?

 

[JStrike]

I'm gonna go ahead and guess you haven't been to "The Italian Club" near Milnerton, or the "Deutscher Verein Kapstadt" in the gardens or any of the Tong Lok sit-down restaurants ... English only?

I have actually been to the Italian and German clubs. But they are not your tourist destination restaurants