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Why a BRICS currency is the way forward for the Global South

... likely changes in the configuration of the global financial system, with scenarios ranging from a bi-polar system dominated by the dollar-yuan duopoly and various multipolar scenarios, involving among other possibilities the creation of a BRICS reserve currency. And it is the prospect of the creation of R5 – the provisional name for the would-be BRICS currency (all BRICS currencies start with the letter “R”) – that is shifting into the epicenter of the increasingly heated global debate. A lot ...

21.02.2023

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The Renminbi as an IMF Reserve Currency

Political or Economic Decision? In late November 2015, the International Monetary Fund (IMF) Executive Board decided to include the Chinese renminbi in the reserve currency basket. According to IMF Managing Director Christine Lagarde, this is a recognition of the progress that the Chinese authorities have made in recent years to reform the country’s monetary and financial systems. The decision comes into ...

09.12.2015

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In your opinion, what are the US long-term goals for Russia?

U.S. wants to establish partnership relations with Russia on condition that it meets the U.S. requirements	33 (31%)
U.S. wants to deter Russia’s military and political activity	30 (28%)
U.S. wants to dissolve Russia	24 (22%)
U.S. wants to establish alliance relations with Russia under the US conditions to rival China	21 (19%)