What happened to BRICS nations?

[Fiatless]

Theoretically, this seems like a great solution to unite the BRICS countries under a single currency, since they cannot unite based on other factors, such as geography or language, as in other global alliances.

Different languages shouldn't be a barrier to the introduction of a single currency. After all the EU is made up of countries with different languages, yet they have a single currency.

However, this solution is completely impractical, as the countries currently agree on the value and importance of gold. But what exactly will they do with gold? Of course, it cannot be used in global trade, and the price of gold on the global market is currently determined by dollars. Or do you imagine that a new currency could be created from scratch? This is a utopian dream, as it is impossible to have a currency that fits all the BRICS economies. Just imagine the difference between the Iranian and Russian economies, or the Indian and South African economies, all of which are members of the alliance.

Maybe allowing member states to trade with their local currencies would be another option. Instead of promoting the use of the US dollars for the international trade payments, each member country can just pay with local currencies without any restrictions.

[justdimin]

They are real but there is so much happening into this world that it's not getting into the spotlight anymore. It might be too much to watch them at all times when tariff wars are what we're hearing all.

AFAIK, there's some convention that they're going to have but I have forgotten the date for it. More countries are joining them and let's see if they'll also going to retaliate with what Trump does.

He seems putting too much pressure against China with all the buzz that they're making so, BRICS is still there but it's not getting the attention.

No matter how much they "grow", USA is USA and the big names are already in, meaning whoever joins, they are not going to get any stronger nations involved. Not like they are going to convince Japan or anything, because they already have China, and Japan will not ally with China, which means that right now whatever nation that is not allied with BRICS at the moment are either allied with others, or they are small nations.

This is why we are not going to see BRICS grow in strength, no matter how many nations join, like let's assume they let Chad join, how is that going to make a difference? Turkey were in talks for a moment, that could be an "emotional" problem, because USA has fields in Turkey they use, military bases, but still even with that, it wouldn't be too bad for them.

[coupable]

Theoretically, this seems like a great solution to unite the BRICS countries under a single currency, since they cannot unite based on other factors, such as geography or language, as in other global alliances.

Different languages shouldn't be a barrier to the introduction of a single currency. After all the EU is made up of countries with different languages, yet they have a single currency.

A common language can be a powerful lever for alliances. This does not mean that alliances will fail without a common language. See example of European union or even Nato.

However, this solution is completely impractical, as the countries currently agree on the value and importance of gold. But what exactly will they do with gold? Of course, it cannot be used in global trade, and the price of gold on the global market is currently determined by dollars. Or do you imagine that a new currency could be created from scratch? This is a utopian dream, as it is impossible to have a currency that fits all the BRICS economies. Just imagine the difference between the Iranian and Russian economies, or the Indian and South African economies, all of which are members of the alliance.

Maybe allowing member states to trade with their local currencies would be another option. Instead of promoting the use of the US dollars for the international trade payments, each member country can just pay with local currencies without any restrictions.

This isn't as easy as you might think. Let me give you an example to help you understand. Take the example of trade between India and Russia, where Russia needs Indian products more than it exports to India. If we try to apply your theory, Russia will either pay in Russian rubles, which will accumulate in Indian banks and leave India with nothing to do with them because no one in the global market would prefer to buy rubles or use ruble in trade. Or it will pay in Indian rupees, which will force it to buy them from the market for dollars. This example actually happened during the initial period of the Ukraine war after international sanctions were imposed on Russia and its exclusion from the Wire system.

[puloweh555]

What happened to BRICS nations?
Since Trump came in I am yet to hear them convening for any meeting. Since Trump slammed Tariffs on most of them I don't see them having any meetings or talking about BRICs anymore.
It makes me to think that were they for real or they wanted to just cause some disruptions in the world market at the time they were talking about whatever they were going to do.
India is a BRICS member but I don't see them having any friendly chat with China with the reality of things.
To each one their own.

From here we can see the big picture that BRICS countries after Trump tariffs are busy taking care of their respective countries' economies. They don't have time to gather to discuss the future development of BRICS. Because the main principle is to take care of your own country first before taking care of other countries, so each must first ensure that the tariffs that Trump has implemented provide plenty of time to stay at home with all its problems.

In my opinion, the countries that are members of BRISC are ready for the risks, they will always be targeted by America to weaken their country. And now with the increase in tariffs carried out by America, of course the countries that are members of BRISC have anticipated this. So in my opinion, the BRIC countries did not hold meetings or gatherings, not because they forgot the purpose of BRISC. Of course, the impact of Trump's tariffs is there, but I am sure BRISC will continue to run according to plan, maybe right now they are just keeping quiet and planning a counterattack on America. So in my opinion, it is not that easy for the countries that are members of BRISC to just forget about it, they already know the impact that will occur and of course have anticipated it.

Actually, currently the impact of tariffs is not only felt by other countries, but I read news that Americans themselves have begun to voice their concerns about Trump's tariff policy which is considered risky to harm their own people. Many warn that additional tariffs on imported goods can reduce market confidence, drive inflation, and ultimately this tariff increase will also burden American consumers with higher prices for goods.

[summonerrk]

What happened to BRICS nations?
Since Trump came in I am yet to hear them convening for any meeting. Since Trump slammed Tariffs on most of them I don't see them having any meetings or talking about BRICs anymore.
It makes me to think that were they for real or they wanted to just cause some disruptions in the world market at the time they were talking about whatever they were going to do.
India is a BRICS member but I don't see them having any friendly chat with China with the reality of things.
To each one their own.

After the big news that the BRICS countries want to create their own alternative to the treaty, Trump reacted very sharply to this intention of theirs.
It seems that these BRICS countries immediately abandoned their initiative after Trump's threats, but this absolutely does not mean that they are not conducting secret negotiations among themselves and continue to develop their own single currency. The fact that he simply reacted like that shows only one thing: that he really does assess the threat of creating this alternative currency Brix and is afraid that it will replace the dollar or become a strong competitor to it in the world.

[viljy]

~
This isn't as easy as you might think. Let me give you an example to help you understand. Take the example of trade between India and Russia, where Russia needs Indian products more than it exports to India. If we try to apply your theory, Russia will either pay in Russian rubles, which will accumulate in Indian banks and leave India with nothing to do with them because no one in the global market would prefer to buy rubles or use ruble in trade. Or it will pay in Indian rupees, which will force it to buy them from the market for dollars. This example actually happened during the initial period of the Ukraine war after international sanctions were imposed on Russia and its exclusion from the Wire system.

It is not entirely true that Russia needs Indian goods more than India needs Russian ones. The first thing that comes to mind is goods that Russia imports from India, probably such as tea or medicines, whereas India buys very cheaply the resources needed by industry. Resources, especially energy, are necessary for any economy. So trading in national currencies is quite viable.

By the way, the role of the dollar is gradually beginning to be reduced to a universal unit of measurement of value, rather than an indispensable unit of account international trade. At the same time, the share of the yuan in the calculations is increasing.

[jaberwock]

It is not entirely true that Russia needs Indian goods more than India needs Russian ones. The first thing that comes to mind is goods that Russia imports from India, probably such as tea or medicines, whereas India buys very cheaply the resources needed by industry. Resources, especially energy, are necessary for any economy. So trading in national currencies is quite viable.

By the way, the role of the dollar is gradually beginning to be reduced to a universal unit of measurement of value, rather than an indispensable unit of account international trade. At the same time, the share of the yuan in the calculations is increasing.

There isn't a nation that relies on a single nation just because they trade with them. In this example, just because Russia and India trades with each other, doesn't mean they are going to need each other, sure they are trading, but if there was anything and they stopped, then they would end up trading with someone else instead. This is why we shouldn't consider this as a "they need each other and can't function without each other".

This works for all BRICS nations, they are not trading with each other because they need each other and would crash without each other, they trade with each other because they want to and they do better deals together. So in BRICS situation we are dealing with something that is getting a lot better results together, they are a team.

[viljy]

It is not entirely true that Russia needs Indian goods more than India needs Russian ones. The first thing that comes to mind is goods that Russia imports from India, probably such as tea or medicines, whereas India buys very cheaply the resources needed by industry. Resources, especially energy, are necessary for any economy. So trading in national currencies is quite viable.

By the way, the role of the dollar is gradually beginning to be reduced to a universal unit of measurement of value, rather than an indispensable unit of account international trade. At the same time, the share of the yuan in the calculations is increasing.

There isn't a nation that relies on a single nation just because they trade with them. In this example, just because Russia and India trades with each other, doesn't mean they are going to need each other, sure they are trading, but if there was anything and they stopped, then they would end up trading with someone else instead. This is why we shouldn't consider this as a "they need each other and can't function without each other".

This works for all BRICS nations, they are not trading with each other because they need each other and would crash without each other, they trade with each other because they want to and they do better deals together. So in BRICS situation we are dealing with something that is getting a lot better results together, they are a team.

Well, I agree with that. If we talk about principle, then the world can exist without international trade at all. If we talk about BRICS, then as I understand your idea, this association provides a kind of symbiosis that is mutually beneficial and strengthens the economies of the participants. However, I would not call this association a team. BRICS is a conditional association of completely different (in almost everything) countries, which was introduced by investment bankers to classify according to the rate of economic growth. So this is a rather "loose" association. Nevertheless, as the economic pole opposite to the globalists, BRICS has become quite attractive to many other countries.

[Swordsoffreedom]

After the big news that the BRICS countries want to create their own alternative to the treaty, Trump reacted very sharply to this intention of theirs.
It seems that these BRICS countries immediately abandoned their initiative after Trump's threats, but this absolutely does not mean that they are not conducting secret negotiations among themselves and continue to develop their own single currency. The fact that he simply reacted like that shows only one thing: that he really does assess the threat of creating this alternative currency Brix and is afraid that it will replace the dollar or become a strong competitor to it in the world.

They never gave up on the goal of dedollarization just because of Trump's threat, the dedollarization process is still ongoing. They still hold annual meetings as before, no secret meetings or need to keep them secret just because of fear of Trump, everything is public.

China alone is enough to shake the superpower status of the US and that is why Trump is targeting only China. He is trying to stop their growth and expansion of influence in the world but it seems that what Trump can do is only slow down this process but cannot stop it. It's too late to stop China and BRICS.


https://watcher.guru/news/category/brics

[kryptqnick]

BRICS is still being busy, but as it encompasses countries with such different agendas and cultures, they struggle to reach agreements on economic matters, while maintaining a careful 'diplomatic' political stance (although I wouldn't call it neutral, as Russia is one of the major members).
One should never underestimate the enemies, so completely disregarding BRICS would be a mistake. The block is growing, and I am concerned that disliking both economical and political policies might be just enough for them to build a common vision.

[Mate2237]

After the big news that the BRICS countries want to create their own alternative to the treaty, Trump reacted very sharply to this intention of theirs.
It seems that these BRICS countries immediately abandoned their initiative after Trump's threats, but this absolutely does not mean that they are not conducting secret negotiations among themselves and continue to develop their own single currency. The fact that he simply reacted like that shows only one thing: that he really does assess the threat of creating this alternative currency Brix and is afraid that it will replace the dollar or become a strong competitor to it in the world.

They never gave up on the goal of dedollarization just because of Trump's threat, the dedollarization process is still ongoing. They still hold annual meetings as before, no secret meetings or need to keep them secret just because of fear of Trump, everything is public.

China alone is enough to shake the superpower status of the US and that is why Trump is targeting only China. He is trying to stop their growth and expansion of influence in the world but it seems that what Trump can do is only slow down this process but cannot stop it. It's too late to stop China and BRICS.


https://watcher.guru/news/category/brics

Brics Nations are silently working under ground as the global economic fight intensifies I think that Russia, China and the other countries know what is at stake so having a different currency apart from the United States dollar for trading among member countries has been the goal and when implemented it's going to be weakening the influence of the dollar in the global market.



The world we find ourselves is full of interest and what the Brics Nations are doing is to be protecting their interests when it comes to the global market as the United States of America has so much grip on the global trading market so the Brics are a strong force that will rival the u.s and it's allies

[pooya87]

the Brics are a strong force that will rival the u.s and it's allies

I like to think of BRICS the way I think of Bitcoin. Just as Bitcoin is not "rival" of anything and is just an alternative to existing payment systems trying to offer system that doesn't have the same flaws; BRICS is also not exactly a rival to anything. It is an alternative alliance of countries to solve various problems including economical because the existing system (eg. UN, IMF, etc.) wasn't working as it should have been working.

[Olatundespo]

the Brics are a strong force that will rival the u.s and it's allies

I like to think of BRICS the way I think of Bitcoin. Just as Bitcoin is not "rival" of anything and is just an alternative to existing payment systems trying to offer system that doesn't have the same flaws; BRICS is also not exactly a rival to anything. It is an alternative alliance of countries to solve various problems including economical because the existing system (eg. UN, IMF, etc.) wasn't working as it should have been working.

It may sound bad, but US President Donald Trump has stopped the progress of BRICS. He thought that such an alliance might hurt US interests and undermine the dominance of the dollar. Successful businessmen like Trump and his prudent decisions have thrown the BRICS countries into confusion. Trump has basically watered down the kind of prudence that the countries showed to emerge as an alliance of emerging economies in the world. He has ordered the executive to impose higher tariffs on those countries that try to introduce an alternative currency other than the US dollar.

Among the BRICS countries, Russia and China are a challenge to the US economy, and Trump understands this well and considers the formation of economic or cooperative groups with those countries to be against US interests. The IMF and the UN are the shadows of US.

[WillyAp]

Among the BRICS countries, Russia and China are a challenge to the US economy, and Trump understands this well and considers the formation of economic or cooperative groups with those countries to be against US interests. The IMF and the UN are the shadows of US.

So answer please why do you think Russia has no tariff at all.
What is the reasoning behind it? What economic surplus has Russia in the US?

[ndutndut]

BRICS is still being busy, but as it encompasses countries with such different agendas and cultures, they struggle to reach agreements on economic matters, while maintaining a careful 'diplomatic' political stance (although I wouldn't call it neutral, as Russia is one of the major members).
One should never underestimate the enemies, so completely disregarding BRICS would be a mistake. The block is growing, and I am concerned that disliking both economical and political policies might be just enough for them to build a common vision.

The three big countries China, Russia, India are enough to make America restless. Three countries that fulfill each other's needs from military technology to natural resources, even though all countries oppose it, these 3 countries will remain strong. Every country that joins BRICS already knows the consequences they will receive including the increase in tariffs imposed by Trump. Of course their political stance is like the initial goal, even though currently BRISC seems silent, it does not mean they are giving up, even China dares to fight the tariffs imposed by Trump.

Especially Russia, even though they were hit by an ultimatum of sanctions from almost half the countries in the world, Russia did not bow its head at all and remained firm with its decision, indicating that Russia can indeed live independently and not depend on any country that has other countries that need it. So yes, as you said, do not underestimate the silence of BRISC at this time, usually in their silence they are planning something bigger. In the end I want to say that BRISC remains committed as in the beginning to fight the dollar.