Russian central bank governor Elvira Nabiullina says the yuan’s share in Russia’s exports has increased from 0.4 to 34.5 per cent, replacing the US dollar and euro as its ‘primary’ currency for foreign economic activity.
Brics doesn’t even have a centralised currency of any form lol.
For it to have the world standard currency, the bunch of systemic competitors that make up brics (almost all of which have at least some major cause of friction with at least one of member) to:
agree on a name, design and production strategy that every single member is happy with
have a centralised bank somewhere that is controlled by some (presumably inter-state) entity
have all members adopt that currency as their primary currency, phasing out their existing state controlled ones
have the currency be more stable and commonly accepted than USD
Only then can it even really begin to start being a world currency
Frankly, I don’t think there’s nearly enough cooperation within the group to even start making steps toward a common currency for decades
Yeah zero chance this happens in our lifetimes. They don’t have enough in common to pull something like this off. It took Europe half a century and they are all next door neighbors with roughly the same values.
Wow, you have it figured out. How much money have you converted into any of the BRICS currencies? It sounds like you would have quite the long term investment when those currencies appreciate due to increased demand.
All of the brics countries right now can keep thier own world currency we need more local currencies im tired of this drive to welcome globalism from known fascist countries.
Along w/ massive purchases in gold, brics will have the world currency status sooner or later
Brics doesn’t even have a centralised currency of any form lol.
For it to have the world standard currency, the bunch of systemic competitors that make up brics (almost all of which have at least some major cause of friction with at least one of member) to:
Only then can it even really begin to start being a world currency
Frankly, I don’t think there’s nearly enough cooperation within the group to even start making steps toward a common currency for decades
Yeah zero chance this happens in our lifetimes. They don’t have enough in common to pull something like this off. It took Europe half a century and they are all next door neighbors with roughly the same values.
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Why would they need to fully replace their local currency to trade with another currency?
Is this something all countries that trade with dollars have done?
Wow, you have it figured out. How much money have you converted into any of the BRICS currencies? It sounds like you would have quite the long term investment when those currencies appreciate due to increased demand.
Gold only recently climbed back to its 2013 valuation. It’s a dogshit investment.
All of the brics countries right now can keep thier own world currency we need more local currencies im tired of this drive to welcome globalism from known fascist countries.
What exactly do you mean by globalism?
Unfortunately, in the US, the term generally is used exclusively by the far right to reference rich Jews and the liberals who support them.
I just want to clarify whether you are referencing that or a different usage of the term that may be more location specific to you.