From the rising economies known as the BRICS, S.S. Tarapore, former deputy governor of the Reserve Bank of India, has publicly articulated the virtues of the gold standard.
By contrast trade with Mr O'Neill's BRICs (Brazil, Russia, India and China) was 3.9% of German trade in 2000, is just under 12% this year and is forecast to be more than 24% in 2020.
This week's fifth BRICS summit is concentrating on Africa with the theme "BRICS and Africa: A partnership for development, integration and industrialization" and South Africa has invited more than 20 African leaders to join the discussion.