I expect something along the lines described will become the BRICS currency. We’re basically moving towards having two competing economic blocs with G7 vs BRICS. What’s going to be interesting though is that G7 are far more reliant on what BRICS countries produce than the other way around. So, once BRICS currency is up and running, then China could tell the US companies that if they want to continue to do trade they have to use this form of settlement. It’ll be interesting to see what the US can do about that.
I expect something along the lines described will become the BRICS currency. We’re basically moving towards having two competing economic blocs with G7 vs BRICS. What’s going to be interesting though is that G7 are far more reliant on what BRICS countries produce than the other way around. So, once BRICS currency is up and running, then China could tell the US companies that if they want to continue to do trade they have to use this form of settlement. It’ll be interesting to see what the US can do about that.