The advance of the BRICS in challenging the West through the creation of a new currency to be used in international economic transactions as an alternative to the dollar that aims to disrupt “traditional” economic hierarchies is apparently proceeding rapidly.
It should be remembered that within the BRICS we find nations such as Brazil, Russia, India, China and South Africa, a group of developing economies, very large populations, very large territories and, not insignificantly, abundant strategic natural resources that have been distinguished in recent years by strong GDP growth.
We are basically talking about the future “leaders” of the global economy
It is necessary to reiterate, before introducing the discussion of the new currency, that in 2010 the International Monetary Fund (IMF), had included the BRICS countries among the largest shareholders along with America, Japan and the four most populous nations of the European Union at that time: France, Germany, Italy and the United Kingdom, but due to the lack of quota sharing, the BRICS decided to create their own financial organization independently and so in 2014 The New Development Bank was born as an alternative to the IMF.
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Traduzione in inglese a cura di Monica Origgi e Barbara Conforti