BRICs

For the first time in decades, the dollar’s global dominance is under real threat and the biggest danger isn’t coming from China or the BRICS.

Modi met Chinese President Xi Jinping at a Brics summit in Russia that month and they pledged further co-operation.

They co-operate multilaterally, from Brics, the alliance of major developing countries, to the Asian Infrastructure Investment Bank.

South Africa is part of Brics, and alliance of major developing countries including Brazil, Russia, India and China, that is attempting to challenge the political and economic power of the wealthier nations of North America and Western Europe.

Mr MacKay believes it will be difficult for South Africa and other nations to navigate relations with the US under "the most unpredictable politician in the world", suggesting that they will have to increasingly see Brics as an alternative partner.