And I believe that they are likely to be discussed for much longer than we think before we reach an agreed view on a minimum acceptable programme. CB: The first official summit of BRIC leaders recently took place in Russia. How do you view the relationship between yourself and your Brazilian, Russian and Chinese counterparts?
4  BIS Review 92/2009  DS: As a first point, BRIC is a Goldman Sachs acronym that emerged out of some similarities between the Brazilian, Russian, Indian and Chinese economies, which are growing rapidly and have an increasing influence on global growth.