BRIC having their first summit (currencies, invest, capital, China)

[HappyTexan]

While I don't think too much will come from this it is something to watch.
This is their first summit and it does have meaning. They are making a move, an initial attempt. China has the upper hand as far as who has the biggest GDP and they are all in favor of the IMF bonds and supporting the IMF.

BRIC seeks global voice at first summit - Yahoo! News (http://news.yahoo.com/s/nm/20090614/bs_nm/us_russia_bric_2 - broken link)

[texdav]

I don't thnik so either as all have suffered as a result of lower crude prices but its worht noting that crude as become like gold as afr as a hedge against currencies.We need toi get serious about becoming a larger producer or we will keep sup[porting countries like Brzil and Russia whose oil the Chinese are going after.As the Chniese look for other place to invest their capital they are turning more to commdoies.