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The Weak of the Break


Submitted By mien
Words 5973
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The Weak of the BRIC:
Currency Depreciation in Russia and Brazil

◎D0131160 Irina Chen ◎D0131187 Gloria Chang ◎D0173297 Sunny Chiu ◎D0173270 Doris Chen ◎D0173670 Athena Du

Abstract ..................................................................................... 2 Brazil ......................................................................................... 3 Why Brazil become the BRIC ................................................... 3 What was behind Brazil’s Depreciation? ................................. 8 Russia ...................................................................................... 13 Why Russia become the BRIC?.............................................. 13 What was behind the Ruble depreciation? ........................... 19 Comparison and Similarities between Russia and Brazil ....... 24 In the Future ........................................................................... 25 The Future of Brazil ............................................................... 25 The future of Russia .............................................................. 25 Conclusion ............................................................................... 26 Contributor ............................................................................. 27 Reference ................................................................................ 27


The BRIC is the acronym of four nations, including Brazil, Russia, India and China. The conception of the BRIC was first created in 2001 by Jim O’Neil, a world famous economist. It was a book published called “Dreaming with BRICs: The Path to 2050” in 2003 by him to make the BRIC become a well-known word because it explains why the BRIC would be important in the future. He thought during the time in 2050, the BRIC would replace G8 and be the largest economies. All the BRIC

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