This chart illustrates that the rise of "BRIC" is really more about the rise of China. But that rise has come more at the expense of Japan than anyone else.
I personally believe that Washington is pushing the BRIC concept, and the G20 in general, as a strategic counterbalance to Europe. The Euro represents the only real currency threat to the dollar at the moment.
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Source: United Nations Statistical Division - National Accounts
Spreadsheet: 1
