Tuesday, June 16, 2009

Thick as a BRIC

BANZAI7 MOSCOW BUREAU--The first summit meeting of the so-called BRIC group — Brazil, Russia, India and China — was intended to underscore the rising economic clout of these four major developing countries and their demand for a greater voice in the world.

Brazil: Wants R.I.C. to send more tourists to Carnival.

Russia: Wants China to buy its limited oil reserves at top dollar before it runs out.

India: Wants B.R.C. to watch more Bollywood films and outsource more tech jobs to Mumbai.

China: Wants to know if B.R.I. are ready to buy electric salad shredders, Humvees, powdered milk, dry wall and petfood.

Americans: Don't want to buy Russian oil anymore, don't want to buy everything that China can make anymore, don't want to export their IT jobs to India anymore, don't want to watch Bollywood movies anymore, but are willing to go to Carnival if they can afford it.

The dollar fell across the board on Tuesday, pressured by comments from Russia suggesting the Ruble would be a better reserve currency instead of the greenback.

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