This article seems to imply that this would be just another currency, but I suspect it’s a Bancor-like unit of account for international balance of payments, and not a currency for everyday transactions.
Yeah, that’s the impression I get as well. That seems like the most likely scenario to me because I don’t think any BRICS countries would want to have a single country’s currency replace the USD. Having a Bancor style currency that’s used strictly for settlement and not owned by any country is a much more palatable solution. Especially given the tensions China and India have.
i would hope that, having seen what the euro is like, no sane country would ever choose to voluntarily hamstring itself again by giving up control of their currency
This article seems to imply that this would be just another currency, but I suspect it’s a Bancor-like unit of account for international balance of payments, and not a currency for everyday transactions.
Yeah, that’s the impression I get as well. That seems like the most likely scenario to me because I don’t think any BRICS countries would want to have a single country’s currency replace the USD. Having a Bancor style currency that’s used strictly for settlement and not owned by any country is a much more palatable solution. Especially given the tensions China and India have.
For now 😌🙏
i would hope that, having seen what the euro is like, no sane country would ever choose to voluntarily hamstring itself again by giving up control of their currency