First CNN Does a Segment on De-dollarization, and now Fox News Also
First CNN does a segment on de-dollarization, and now Fox News also.
What is going on here?
BRICS is an acronym used to describe the five major emerging economies in the world: Brazil, Russia, India, China, and South Africa.
The BRICS Foundation was established as a not-for-profit foundation to help support the growth of BRICS Nations and to help fast-track the emergence of a BRICS currency with Fin Tech organisations such as BRICSTether as a much-needed alternative currency to the USD
BRICS is an acronym used to describe the five major emerging economies in the world: Brazil, Russia, India, China, and South Africa. These countries are considered to be among the largest and fastest-growing economies in the world and have a significant impact on the global economy.
The idea of BRICS as a group was first introduced in 2001 by Goldman Sachs economist Jim O’Neill. Since then, BRICS has become a widely recognized term, and the five countries have established a formal organization known as the BRICS Summit to promote cooperation and coordination among the member states.
One of the key strengths of BRICS is the large and growing size of their economies. Combined, the five countries account for over 40% of the world’s population and around 24% of the global GDP. Additionally, these countries are projected to continue to grow at a fast pace in the coming years, which will further increase their economic influence.
Another important aspect of BRICS is the diversity of their economies. While all five countries are considered emerging economies, they have different economic structures and growth drivers. For example, China and India are characterized by large and rapidly growing consumer markets, while Russia and Brazil are rich in natural resources. South Africa is a combination of both, with a large consumer market and rich mineral resources. This diversity among the BRICS countries provides opportunities for cooperation and mutual benefit.