Brics nations\u2019 plan to create rival to greenback is bound to fail even without president-elect\u2019s measures<\/p>\n
In 2023, the leaders of Brazil and the other Brics countries at the time \u2013 China, India, Russia, and South Africa \u2013 discussed<\/a> collaboration on a new shared currency. The Brazilian president, Luiz In\u00e1cio Lula da Silva<\/a>, has been a vocal proponent of an alternative to the US dollar, the dominant global currency for the past 75 years, and the Russian president, Vladimir Putin, publicly promoted<\/a> the idea during the Brics summit in October by brandishing<\/a> a symbolic Brics banknote. The bloc\u2019s new members \u2013 Egypt, Ethiopia, Iran, and the United Arab Emirates \u2013 would presumably also be included in the new joint currency.<\/p>\n The proposed challenge to the dollar has already drawn the ire of the US president-elect, Donald Trump, who has threatened<\/a> to impose punitive tariffs of 100% on countries that move away from the greenback. At the end of last month, Trump warned<\/a> Brics countries against creating or supporting an alternative reserve currency. \u201cWe require a commitment from these countries that they will neither create a new Brics currency nor back any other currency to replace the mighty US dollar, or they will face 100% tariffs,\u201d he declared on Truth Social, his social media platform.<\/p>\n Continue reading…<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Brics nations\u2019 plan to create rival to greenback is bound to fail even without president-elect\u2019s measures In 2023, the leaders of Brazil and the other Brics countries at the time \u2013 China, India, Russia, and South Africa \u2013 discussed collaboration on a new shared currency. The Brazilian president, Luiz In\u00e1cio Lula da Silva, has been … Read more<\/a><\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-29096","post","type-post","status-publish","format-standard","hentry","category-blog"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/posts\/29096","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/comments?post=29096"}],"version-history":[{"count":0,"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/posts\/29096\/revisions"}],"wp:attachment":[{"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/media?parent=29096"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/categories?post=29096"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/tags?post=29096"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}