The leaders of BRIC countries have said that India and Brazil must be allowed to play a greater role in the United Nations. Brazil, China, India and Russia also said the United Nations needs to be more representative of its member countries. In a joint statement released at the end of the BRIC summit in Brasilia, they vowed to resist protectionism and make efforts to trade in local currencies. The leaders of the countries said the world economy has improved since their last meeting in June 2009 though the recovery is not yet solid. The Summit did not discuss the value of China’s yuan, which the U.S. and other countries have said is undervalued. The leaders said it is important to maintain the stability of the world’s reserve currencies and major economies’ fiscal policies. The BRIC Summit which was advanced by a day after Chinese President Hu Jintao decided to return home early because of an earthquake in the western province of Qinghai that displaced 100,000 people. The declaration said, the world needs today a reformed and more stable financial architecture that will make the global economy less prone and more resilient to future crises. It called for a more stable, predictable and diversified international monetary system. China will host next year’s BRIC summit, the statement said.