Hello Everyone!  It’s good to be back in the game.  I have been largely severed from the internet world from several weeks as I traveled across Europe and Northern Africa.  I have returned to London, but am still in limbo as I prepare to return to the states.  Still, I wanted to make sure this week’s edition of the BRIC Roundup got to press! Of course, much has occurred in the past weeks in these nations.

The overarching story of the BRIC nations in the past weeks has been one of steadily increasing importance in international affairs as the economic crisis is re-leveling to some degree the playing field.  The G20 conference here in London a few weeks ago emphasized this point as it agreed to flood money into the IMF and reorient policy around the World Bank.

These organs are set up with the express aim of preventing crises throughout the world by monitoring dangerous economic policies in all countries; and these aims will be furthered by Brazil’s suggestion that developing countries gain more control over the fund.  It is a measure of the growing influence of Brazil in particular that it is paying into the fund to help other countries and able to take a larger role in demanding policy innovation.

Meanwhile China is making the first moves to bring its strategic asset fund, derived from its foreign reserves, out of its short hibernation.  China is hoping, of course, that the financial crisis is bottoming out, and its returns will therefore be great at current investment prices.  While this strategy is risky, it underscores the country’s relative economic power to be able to spend at all, and reinforces the international clout that China holds that such expenditures have a significant worrying effect on some Western policymakers.

Of course, the BRIC Roundup is not the only one to notice the emerging importance of countries such as Brazil.  For example, Israel’s El Al Airlines has begun direct flights this week to Brazil, strengthening Brazil’s international cache, at the same time that the International Olympic Committee has sent positive messages considering Rio de Janeiro for the 2016 Olympic Games.

In a more foreboding sense, Secretary of State Hillary Clinton noted this week that Iran and China have made "quite disturbing" gains in Latin America, and President Ahmadinejad is planning ot visit Brazil just this week.  The U.S. might do well to encourage these emerging countries to become stronger allies.

Thus, the overarching story of the BRIC countries in the past week weeks has indeed been such a resurgence of growth–in stature, importance, and influence—despite the tough economic times.  Do you have any thoughts concerning how the U.S. should respond to the changing international scene?  Besides involvement with the G20 summit in London, the U.S. has seemed relatively muted in the past few weeks regarding international affairs, as the emphasis has been placed squarely on domestic matters.  Should more be done, or is the current focus on domestic affairs correct?  Sound off in the comments!