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It's important to note that the Goldman Sachs thesis isn't that these countries are a political alliance (like the European Union) or a formal trading association - but they have the potential to form a powerful economic bloc.
Cooperation is the next step among the BRICs because Brazil and Russia together form the logical commodity suppliers to India and China. Brazil is dominant in soy and iron ore while Russia has enormous supplies of oil and natural gas.
Thus, the BRICs have the potential to form a powerful economic bloc to the exclusion of the modern-day G8 status.
Slide 3: G8 vs the BRICs
By 2025, the combined economies of the BRICS will be about half the size of the G8, and in about 40 years, will likely be larger...
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