Courtesy: Presidential Press and Information Office/Wikimedia Commons
If not dominated by China’s renminbi, what would nations with bills called renminbi, real, rupee, ruble and rand call their common currency? The BRICS quest for an alternative to the dollar is rooted in a belief that America’s printing press economy and mega banks are mega dangers to global stability.
Courtesy: Saurabh Das/AP Photo
The 4th BRICS Summit in New Delhi has brought a new dimension to emerging markets. The author explains why the summit was perhaps the most significant of the BRICS meetings so far – and one that should have the developed world really worried about their eroding position at the top of the global heap.