The BRICS Cross-Border Payment Initiative (BCBPI) will use national currencies, instead of the US dollar. Russia’s finance ministry and central bank released a report detailing plans to transform the international monetary and financial system.
Geopolitical Economy
2 comments:
My god why is it so hard for these countries to understand that the reason they all have dollar reserves is because they keep exporting to the United States... Another plan that's not going to do anything. The most dangerous thing to the Dollar is probably the united states itself. Sanction this, sanction that, maybe eventually it'll sanction every other nation on earth and then finally these other nations won't hold USDs anymore.
When you look through the MMT lens.
Here:
https://m.youtube.com/watch?v=WywW_uy2bio&pp=ygUNZmFkaGVsIGthYm91Yg%3D%3D
Does section 1.5 of the BRICS report lay down the foundations to fix it ?
It's not very difficult to offer something better than the Euro. However, Will the BRICS report fix the problems faced by the Global South.
Fadhel Kaboub needs to give his analysis.
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