>>514957738 (OP)
I donโt understand what India, Russia, Brazil, South Africa, or any of the other smaller BRICS countries not included in the acronym get out of this.
I understand that the point of BRICS is to escape reliance on the US dollar, but now wonโt all of these countries be reliant on Chinese yen? Theyโre supposedly going to have their own currency, but that currency is backed by the countries in the trade alliance. China has by far the largest economy and therefore the most control over the BRICS dollar. Everyone else is basically entrusting their own economies to the strength of the Chinese economy.
Idk, it just seems like the current American dominated economic system with a Chinese cost of paint. I donโt see how it improves anything for anyone who isnโt China.