Dear Investors, In the past two decades, a profound shift has taken place in the global economic and geopolitical scene, as the rise of BRICS nations provides an increasingly substantial counterweight to the enduring dominance of the G7. What Happened at the Annual BRICS Summit?
The BRICS initiative is interesting for undermining American domination over the world. However, do you really think that a BRICS currency could really prevail, when India and China totally hate each other?
Personally, I doubt it. I rather think that China will try to impose its yuan on other countries and in particular throughout the BRI in order to obtain the same exorbitant privileges in the future as those which America benefits from by issuing the world reserve currency.
In all this, India will refuse to follow China and continue to keep a foothold in both worlds.
Generally speaking, I doubt that the BRICS initiative will really work, because apart from a certain distrust or even hatred of the West, each country preaches above all for its parish and common points are non-existent.