... in the system itself. The leaders of BRICS are now posed with questions doubting the stability and the reliability of the system. Recently, the leaders of the BRICS countries met in Brazil to establish the BRICS Development Bank, a counterpart to the IMF and the World Bank, specifically designed to increase the amount of money loaned to developing nations. The bank also was created with an emergency reserve fund, echoing the sentiments of the 1998 crisis, where developing nations and emerging markets ...
With the souring of relations between the United States and Russia, Russia has expressed its desire to become less dependent on the US dollar. This is an understandable concern, given the political tension between the two countries, coupled with the threat of tougher US Sanctions on the Russian economy[1]. Simply put, the Russian government knows that it is at a disadvantage. The United States is Russia’s 5th largest trading partner, with 11$ Billion in trade volume, while Russia is United...
Currency Wars follows the actions of governments and central banks to manipulate their currencies and currency denominated securities to their advantage and to the disadvantages of foreign markets. At the present day the focus will be on China and the ...