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To: marcusmaximus
Aside from Russia, there's no real interest in BRICS for an alternative currency system. China doesn't want the friction with the US and India is worried China would dominate any new system.

And Russia by itself doesn't have the power to influence the others. It's quite a comedown for the former Soviet Union lynch-pin, but China and India are both more influential on the world stage right now than Russia is.
21 posted on 12/02/2024 5:43:01 AM PST by AnotherUnixGeek
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To: AnotherUnixGeek

The key to what you stated is “doesn’t want”; US weaponization of the USD, SWIFT and the banking system has been the number one reason for Brics applications. The single unifying reason for Brics’ explosive growth the past two years was the Sanctions.

Brics meeting attendees also cited closer matching economies, the ability to trade without interest or transaction payments which also leads back to the USD.

That growth according to a Chinese source:

https://chainaffairs.com/brics-expansion-47-nations-eye-membership-as-23-countries-submit-applications-for-de-dollarization-agenda/


54 posted on 12/03/2024 5:19:05 AM PST by Jumper
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