SCO & BRICS latest news and insights
The Former US President Donald Trump, again striving to become the “leader of the free world,” is trying to prevent countries around the world from abandoning the use of the dollar. How will he take revenge and how will this threaten the economy? And what should Russia do in this situation with its...
By Rhod Mackenzie
The Chinese currency, the yuan, has overtaken the Japanese yen to become the fourth most used currency in international payments via the SWIFT system. Its share of the market has reached 4.7%, almost twice as much as last year. However, the data does not take into account the Rus...
By Paulo Nogueira Batista.
The realisation of grand projects always implies imagination and persistence in overcoming all sorts of barriers and all kinds of resistance. Let us hope that the BRICS will confirm expectations entertained by the Global South and rise to the challenge of providing const...
By Rhod Mackenzie
The share of the euro in global settlements through the SWIFT interbank system reached a historic low in March, accounting for 21.93% of the total, according to data analysed by RIA Novosti.
Over the course of the month, the euro lost 1.32 percentage points. In contrast, the dol...
By Rhod Mackenzie
More nations worldwide will gradually shift away from using the dollar in international trade and instead use their national currencies. Professor Jeffrey Sachs, an economist at Columbia University in the United States, shared this opinion with Izvestia on January 5.
“I do not b...
By Rhod Mackenzie
Yu Yongding, a former adviser to the People's Bank of China (PBOC), suggests that Beijing should gradually decrease the proportion of US government bonds in its foreign exchange reserves. Additionally, it is necessary to increase imports to balance foreign trade and reduce its vu...
