This photograph titled Tondo is by Russian artist AES + F. Other works by the artist are part of the BRIC exhibition at the Listel Hotel.

If you’re unfamiliar with the term BRIC you should check out the Listel Hotel Art Gallery in downtown Vancouver. Since March 2012, the exhibition revolves around four emerging economic powers – Brazil, Russia, India and China­.

In 2003, the four BRIC countries were grouped together by Goldman Sachs chief economist Jim O’Neil. Statistically, they are growing in magnitude and significance. It is thought that Brazil, Russia, India and China, as a collective power, threatens to dominate the G7 countries―the United States, Japan, Britain, France, Germany, Italy and Canada.

“Most non-engaged financially interested people are unaware of these ‘new economic powers,’’ says the gallery’s curator, Barrie Mowatt.

“Locally most people have a glimmer and consciousness that China is certainly biting at the heels of the U.S. as an economic power, but are unaware of the other three, especially Brazil.”

Collectively, the BRICs makes up 45 per cent of the world’s population. By 2025, it is predicted that Brazil’s economy will hit half the size of the G7. China stood as the world’s third largest trader in 2003 and has been developing rapidly to take its place as the world’s dominant supplier of manufactured goods. India, from a GDP growth rate of 4.9 per cent in 2008, has jumped to an astounding rate of 8.6 per cent in 2012.

Russia has been lagging behind in the race for foreign capital, despite its great amount of natural resources and economic liberalization. Nonetheless, Russia is showing potential to redeem its place among the other three members of BRIC. Meanwhile, Brazil has been inundated with foreign investors and is gradually positioning itself as the leader of the Southern Hemisphere.

All in all, if the current and future impact of these four emerging powerhouses is so evident, it begs the question of why there is so little awareness of the BRICs, and what impact they have on Canadians.

David Ding, associate professor of political science at UBC says that Canada has been rather slow in developing strategies to expand trade with the BRIC countries. He claims that BRIC’s importance is growing and the necessity for Canada to create bonds with these emerging superpowers is increasing.

“All four are very large countries with growing economic power that demands more recognition within the current international economic order,” says Ding. “Canada certainly needs to engage the BRIC countries individually in the development of bilateral relations.”

The BRIC exhibit serves to bring Vancouverites up-to-date with the great change that is rapidly taking place. Mowatt hopes people will walk out from the exhibit with a sense that the power of the BRICs is no longer a speculation – it is the reality and it is essential that Canadians try to stay on the ball.

“Something’s happening elsewhere in the world that is worth exploring,” says Mowatt.