THE ECONOMIST :Leaders of Brazil, Russia, India and China, known collectively as the BRIC countries, are gathering for their first official summit in Yekaterinburg, Russia, on Tuesday June 16th. China and India have continued to grow reasonably quickly despite the global downturn, and although Brazil is in recession many expect it to recover soon. Of the four economies Russia, which is heavily dependent on oil exports, has been the worst affected. The leaders may discuss long-term plans to find an alternative to the dollar as a global currency. Another possible topic for consideration is trade in commodities: China and India are heavy importers of many commodities such as oil; Russia and Brazil are big exporters of raw materials.
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