“… y, a status formerly enjoyed by the British pound, French franc and Dutch guilder.”
These were all backed by gold. The US dollar was, but then abandoned the gold standard. Currencies are now only worth the goods they will buy. China might be able to get 2nd and 3rd world countries to accept yuan because they make cheap basic stuff. Trade in high tech will only be in euros, pounds, and dollars(plus a few others). The yuan or ruble or any of the other BRICS currencies will always be second-tier money, good enough for a cheap cell phone, but not a good one.
What we do know is the dollar isn’t backed by gold, but BRICS currency would be backed by gold, silver, platinum, oil, lithium, and rare-earth metals as has been proposed by BRICS.
People need to wake up and say no to the neoconnery and neoliberalism angering and alienating more and more countries, driving them away.
Where do you think “good” cell phones are made?