BlogNewsWe Should Not Ignore BRICS

We Should Not Ignore BRICS


For the first time in my memory there was serious discussion of a new trading currency to supplant the dollar, which currently represents 85% of global cross border trade. This is important because if BRICS became a cohesive trading entity it would have serious heft, with a third of global GDP and a combined $387bn trade surplus compared to the EU’s $467bn trade deficit Continue…

BRICS is an informal group of states comprising the Federative Republic of Brazil, the Russian Federation, the Republic of India, the People’s Republic of China and the Republic of South Africa. The growing economic might of BRICS countries, their significance as one of the main driving forces of global economic development, their substantial population and abundant natural resources form the foundation of their influence on the international scene.

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