But the main BRICS countries have been creating new payment methods for a while now, with a few successes.
Their alternatives to SWIFT is very successful, it’s how both Russia and China have made themselves immune to the secondary effects of western sanctions against Russia. However besides the international transactional agreement, only Brazil have proposed an alternative to US currency, but the other nations have no interest in this.
IMHO, it’s probably because Brazil is most vulnerable to the US dollar. The economies of China, India, Russia and SA are not as dependent on the US dollar, since they also trade significantly with non-western nations.
Any new alternative on international settlements is welcome…
But the main BRICS countries have been creating new payment methods for a while now, with a few successes. So, what is he talking about?
Their alternatives to SWIFT is very successful, it’s how both Russia and China have made themselves immune to the secondary effects of western sanctions against Russia. However besides the international transactional agreement, only Brazil have proposed an alternative to US currency, but the other nations have no interest in this.
IMHO, it’s probably because Brazil is most vulnerable to the US dollar. The economies of China, India, Russia and SA are not as dependent on the US dollar, since they also trade significantly with non-western nations.