BRICS
WHAT IS BRICS?
=new currency that will be based on basket of the
currencies of the five-nation block:
• the Chinese RMB Yuan
• the Russian Ruble
• the Indian Rupee
• the Brazilian Real
• South African Rand
-trying to create alternative mechanism for
international payments
WHAT IS BRICS' GOAL?
• 1.)dedollarisation
• 2.)boost the development of
emerging markets and developing
countries
BRICS VS US DOLLAR
VISUALIZATION
OF
THE
DOLLARS
DOMINANCE
-41% of global
population
-24% of global
gross domestic
product
-16% of global
trade
BRICS VS MAJOR CURRENCIES IN PAST
BRICS (BRIGHT?) FUTURE
-Turkey, Egypt, Iran, Argentina and Saudi Arabia=
wanting to join
-China might become the new agenda-setters and
norm makers
-might prefer to move into gold
BRICS' (BRIGHT?) FUTURE'S PREDICTION
• "If it works and you look 20 years from now, you'd have
Western dollar-euro influence. And on the other side,
you'd have China's yuan-Russia's ruble, or whatever that
combination would be. And then you'd have the third
option called Bitcoin, which is the middle one that is not
based on countries but based on individuals saying that
they don't want to vote with a particular bloc, preferring a
global currency that is not controlled by anybody," he told
Kitco News.
Wells Fargo's real asset strategy head John LaForge.
BRAZIL VS US
DOLLAR
• big dependence on dollar
• 90% of bill export = dominated
in dollars
• US only recieves 17% of overall
exports
RUSSIA VS US
DOLLAR
• because of war in Ukraine Russia
wants be independent from Western
domination in financial system
• llimited international settlements
• conducting business using alternative
currencies in 2018
• welcomes other world leaders to join
BRICS VS MAJOR CURRENCIES IN PAST
INDIA VS US
DOLLAR
• 86% of imports rely on
the US dollar
• only 5% of imports
originate in US
CHINA VS US
DOLLAR
• US dollar has the ability to
create roadblocks for
Chinese trade and
technology
SOUTH AFRICA
VS US DOLLAR
• lacking autonomy among
developing countries economic
security
• promoting the use of local
currencies in trad
• recently:accepted broader use of
the Chinese reminbi(juan)
• thanks to BRICS it will help boost
the vaccine manufacturing
capacity
CONCLUSION
-Russia+China:
as their geopolitical rivarly with US arises, the
more they consider the risk of future sanctions
against them
-India+Brazil+South Africa:
1.)altering the global financial system
2.)promote the use of local currencies for
international trade
SOURCES
• https://www.google.com/search?client=avast-a-3&q=brics+currency&oq=brics&
aqs=avast.0.69i59l2j69i57j0l2j69i60l3.3394j0j1&ie=UTF-8
• https://www.kitco.com/news/2022-08-25/Putin-s-BRICS-new-currency-could-ben
efit-gold-and-Bitcoin-analysts.html
• https://www.cambridge.org/core/elements/can-brics-dedollarize-the-global-financial-syste
m/0AEF98D2F232072409E9556620AE09B0
• https://www.orfonline.org/expert-speak/brics-reserve-currency/
• https://www.google.com/url?sa=i&url=https%3A%2F%2F2.zoppoz.workers.dev%3A443%2Fhttps%2Fwww.npr.org
%2F2022%2F10%2F30%2F1132561987%2Fbrazil-election-lula-da-
silva&psig=AOvVaw0wCptbGAjNfcv6fIImptkf&ust=1667744092540000&source=images&
cd=vfe&ved=0CA0QjRxqFwoTCMCxmJadl_sCFQAAAAAdAAAAABAD
• https://en.wikipedia.org/wiki/Russia
• https://medium.com/@kriteshabhishek/becoming-president-draupadi-murmu-
57a317ae68b3
• https://www.brookings.edu/blog/up-front/2013/03/25/brics-and-chinas-aspiration-for-the-
THANK YOU FOR
YOUR
ATTENTION !
