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25 sats \ 0 replies \ @Trinidad 22 Jan 2023 freebie \ on: BRICS challenges US 'dollar dominance', Saudi ...: New multipolar economic order bitcoin
The concept of BRICS currency framework vs USD has been around for a long time. At least since 2013 as far as I remember. The problem is that these countries have very different geopolitical goals and each pushing their agenda.
For example, China in alliance with S.Africa wanted to settle all BRICS trade in Yuan. Which was a no-no for Putin. It would put him in the same spot as he is now with us dollar.
On the other hand there are many elements in play for USD to keep the hegemony.
At some point I thought maybe BRICS could implement at least their own payment settlement system, an alternative to SWIFT, but that didn't happen neither.