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The week ahead

From The Economist

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The leaders of Brazil, Russia, India and China meet to discuss the economy, and other news

• LEADERS of Brazil, Russia, India and China, known collectively as the BRIC countries, will gather for their first official summit in Yekaterinburg, Russia, on Tuesday June 16th. China and India have continued to grow reasonably quickly despite the global downturn, and although Brazil is in recession many expect it to recover soon. Of the four economies Russia, which is heavily dependent on oil exports, has been the worst affected. The leaders may discuss long-term plans to find an alternative to the dollar as a global currency. Another possible topic for consideration is trade in commodities: China and India are heavy importers of many commodities such as oil; Russia and Brazil are big exporters of raw materials.

For background, see article

• IT IS a busy week for those keen on reform of financial regulation. On Wednesday June 17th Tim Geithner, the treasury secretary, and Barack Obama, are expected to announce reforms to America’s regulatory system, with many expecting the creation of a new body to oversee other regulators. In Britain, too, the chancellor of the exchequer, Alistair Darling, will give a speech on financial reform, on Wednesday. Later in the week leaders of the European Union will discuss the same subject at a summit.

• CONGRESSIONAL leaders are expected to attend a meeting at the White House on Wednesday June 17th to discuss prospects for immigration reform in America. President Barack Obama and Harry Reid, the Senate majority leader, are keen to pass a reform bill by the end of the year that would deal with the 12m or so migrants who are in America without papers. Opponents of such reform argue that it would amount to granting an amnesty to illegal aliens and would encourage others, but bringing such workers out of the shadows could boost tax collection, lessen abuse of workers and spur growth.

For background, see article

• GREENLANDERS take another step towards full independence from Denmark on Sunday June 21st, the summer solstice in the northern hemisphere. The 56,000 residents will be granted an expanded version of home rule, after a referendum in 2008 showed more than 75% support for the territory taking over responsibility for police, justice and security. In time Greenland, which has been ruled by Denmark since the 18th century and which continues to receive hefty subsidies, is expected to claim status as an independent country. Its large deposits of minerals, including oil and precious stones, could make the sparsely populated land particularly rich.

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