New BRICS World Currency And Trade Alliance Might Be Dead Before Getting Started Amid Disagreement And US Dollar Still Used In 90% Of All Trade

An audacious call from Brazil President Luiz Inacio Lula da Silva for the BRICS nations to establish a shared currency has been met with skepticism.

Addressing a packed audience during the 2023 BRICS Summit in Johannesburg, South Africa, Silva argued that a common currency would insulate these nations — Brazil, Russia, India, China and South Africa — from the tumultuous waves of dollar exchange rate shifts.

But the idealistic vision is riddled with logistical conundrums, stemming from the…