Talk of a common currency displacing the greenback is wishful at best.
The exorbitant privilege the US enjoys from the dollar being unambiguously the world's reserve currency is under attack again. The emerging market Brics countries of Brazil, Russia, India, China and South Africa are trying to attract hangers-on by whipping up talk of a rival to dethrone King Dollar. It's going to fail for all the usual reasons. As the King himself, Elvis Presley, sang: A little less conversation, a little more action, please...
For just R80 you can become a premium member and support a publication that has played an important political and social role in South Africa for over a century of Sundays. You can cancel anytime.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Panicked move deeper into Brics would be catastrophicThe government is caught between a rock and a hard place over the arrest warrant for Russian President Vladimir Putin, writes msmkokeli
Read more »
Panicked move deeper into Brics would be catastrophicThe government is caught between a rock and a hard place over the arrest warrant for Russian President Vladimir Putin, writes msmkokeli.
Read more »
How to build Brics without greenbacksFive-nation bloc explores ways to reduce clout of Uncle Sam’s currency in their economies.
Read more »
How to build Brics without greenbacksFive-nation bloc explores ways to reduce clout of Uncle Sam’s currency in their economies.
Read more »
Mbalula: Russia must attend BRICS summit, with or without PutinWhether or not President Vladimir Putin can attend the BRICS conference in South Africa, ANC Secretary-General Fikile Mbalula believes Russia should still participate. ECRNewsWatch
Read more »
ANALYSIS | Any effort by BRICS to dethrone the dollar will end in failure | BusinessIf the Organization of the Petroleum Exporting Countries cannot come up with a petro-currency, what chance does a random bunch of geographically disparate nations have, asks Bloomberg's Marcus Ashworth. | News24_Business
Read more »