This is a historic first. A few weeks of the holding of the G8 at L'Aquila, in Italy, Russian President Dimitri Medvedev invited his Chinese counterparts Hu Jintao, Brazilian Lula, and Indian Manmohan Sing at a first Summit, now in Yekaterinburg. The representatives of the BRIC for Brazil, Russia, India, China, Editor's note may wish to show their willingness to act in unison the crisis economic and financial international and a most important place on the world political stage. However, it will be difficult to reconcile the interests of each. The four leaders should adopt a declaration calling for a multipolar world, said Thursday the spokesman for the Russian Ministry of Foreign Affairs Andrei Nesterenko.![]()
For Moscow, the BRICs enclosure is as much political as economic. The Russia, who wants to strengthen its power status (without the growth rate of China and the India, without the financial system of the Brazil), wish to break American domination. Initially, the major project supported by Moscow since weeks should be the need to raise the ruble and the yuan to the rank of world reserve currencies. Objective: create an "international financial system more fair", according to Dmitry Medvedev, and put an end to the hegemony of the dollar. But, the Ministers of finance, Alexei Kudrin, revealed that it was too early (see below).

China, it presents itself in "panda 800 pounds", as described by Markus Jaeger, an economist with Deutsche Bank. "Economically, financially and politically, China is and will shade in all the countries of the group" analysis the researcher, who recalled in a recent note that China's GDP is greater than the accumulation of other countries and that the volume of its exports is two times higher than the cumulative volume of exports of the Brazil, the India and the Russia. "These are mainly the Russia and the Brazil who had interest in organizing this grouping", confirms indeed Jim O'Neill, Chief Economist of Goldman Sachs.
The ambition of the Brazil
If Chinese President Hu Jintao will politely attend the Summit, his country had so far not placed great hopes in this motley assemblage. In addition, its own interests often face to those of other major emerging countries. Or on trade issues in the negotiations on the fight against climate change.
Beijing distrusts also the ambitions of its larger neighbors Russia and India.
The Brazil, he has more ambition. Its President wants to give a political consistency to the BRICs in relying on their growing economic importance. Objective: to allow the major emerging countries to show a common front in international meetings, including the g-20, to score points in the race to new global governance. In a statement sent to the "Echos", Lula believes that the strengthening of the BRIC "will contribute to find solutions more effective to the challenges of today's world, marked by profound asymmetries in the process of decision making".
Brasilia is also favourable for alternatives to the dollar in business transactions, like a mechanism already established with the Argentina under negotiation with China. "I think it is preferable to establish alternative little by little, on a case by case basis, and at this time we focused on the beginning of the dialogue with the Chinese which does not in the future the possibility to advance in this direction with the other partners of the BRICs", said Lula.