Why a BRICS currency is the way forward for the Global South

... BRICS grouping – along with pushing for the use of yuan as the settlement currency in trade transactions its support for the common BRICS currency project could benefit its economy together with other developing economies through more emphatic de-dollarization. To further diminish dependency risks the new BRICS currency could come with a collective (rather than single country) guarantee of the non-use of sanctions/restrictions associated with the newly created currency. Admittedly, the creation of a common BRICS currency will not be a magic wand that solves ...