The emerging economies of Brazil, Russia, India and China (BRIC) can overcome their dependence on trade with the US and continue their growth paths by trading with one another, according to BRIC Plus Program director David Thomas.
"Brazil and Russia, in particular, have things that China and India need and that's going to be the growth story going forward - Brazil and Russia providing imports to China and India, particularly around energy and resources and commodities," Thomas said.
China's vast amounts of capital reserves will also have a role to play in minimising the four economies' level of trade with the US, he said.
"These significant capital reserves enable them to invest in guaranteed future supplies of energy which they need," he said.
Evidence China will use its capital reserves in this manner has already been witnessed, with a deal being struck between it and Russia in February of this year, Thomas said.
"It saw China's development bank lending US$15 billion to two large Russian oil pipeline producers that were looking to upgrade their facilities," he said.
"In return for that China has managed to get a guaranteed supply of oil and gas going forward."
A similar deal in May saw capital from China being lent to Brazil to give the South American country the ability to export 200,000 barrels of oil per day to Chinese petroleum company Sinopec for the next 10 years.
The deal means China is now Brazil's biggest trading partner, which is a similar status China holds with India and Australia, Thomas said.
