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Central Bank president Henrique Meirelles confirms that Brasil is considering the gradual elimination of the US dollar in trade with China, Russia and India.
“We are working with the two central banks to facilitate trade with China in local currencies. We’re doing something similar with the central banks from Russia and India”, said Meirelles.
Showing posts with label BRIC. Show all posts
Showing posts with label BRIC. Show all posts
29 October 2009
20 August 2009
Time To Revise The BRIC?
YALE GLOBAL ONLINE VIA THE LATIN BUSINESS CHRONICLE.
The so-called BRICs – Brasil, Russia, India, and China – are often touted as the new economic winners. A closer look says that may be premature.
The so-called BRICs – Brasil, Russia, India, and China – are often touted as the new economic winners. A closer look says that may be premature.
07 July 2009
25 June 2009
Emerging Markets"Decoupling"...Makes a Comeback
The once popular theory among economists of decoupling... is making a comeback.
Decoupling is the concept that emerging markets like the BRIC ( Brasil, Russia, India and China) could grow... independently of developed economies.
After the recent world financial crisis, the idea was discarded.
But it now seems to be re-emerging.
http://www.nytimes.com/2009/06/25/business/global/25oecd.html?_r=1&ref=todayspaper
Decoupling is the concept that emerging markets like the BRIC ( Brasil, Russia, India and China) could grow... independently of developed economies.
After the recent world financial crisis, the idea was discarded.
But it now seems to be re-emerging.
http://www.nytimes.com/2009/06/25/business/global/25oecd.html?_r=1&ref=todayspaper
17 June 2009
What is the "BRIC"?...and What Does It Matter?
A nice nutshell profile of "BRIC"... the acronym for the four emerging economies of Brasil, Russia, India and China...from NPR 's Tom Gjelten.
http://www.npr.org/templates/story/story.php?storyId=105504349
The NYTimes reports that: "The four countries produce about 15 percent of the world’s gross domestic product and hold about 40 percent of the gold and hard currency reserves, but they are not a unified bloc and do not do enough business among themselves to justify a trade alliance." http://www.nytimes.com/2009/06/17/world/europe/17bric.html?ref=todayspaper
Plus a more detailed report on the BRIC's recent meeting:
http://www.bloomberg.com/apps/news?pid=20601109&sid=a8strJTaN6Hs
And this...on the proposed use of rubles and yuan ...instead of the USD... on some future trade deals between China and Russia.
http://www.bloomberg.com/apps/news?pid=20601095&sid=aSTmuCr.RD88
http://www.npr.org/templates/story/story.php?storyId=105504349
The NYTimes reports that: "The four countries produce about 15 percent of the world’s gross domestic product and hold about 40 percent of the gold and hard currency reserves, but they are not a unified bloc and do not do enough business among themselves to justify a trade alliance." http://www.nytimes.com/2009/06/17/world/europe/17bric.html?ref=todayspaper
Plus a more detailed report on the BRIC's recent meeting:
http://www.bloomberg.com/apps/news?pid=20601109&sid=a8strJTaN6Hs
And this...on the proposed use of rubles and yuan ...instead of the USD... on some future trade deals between China and Russia.
http://www.bloomberg.com/apps/news?pid=20601095&sid=aSTmuCr.RD88
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