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BRICS Summit Exposes Deep Divisions Over Currency Policy and Economic Strategy
BRICS Summit Exposes Deep Divisions Over Currency Policy and Economic Strategy
20
3
BTCCSquare news:
The 17th BRICS Summit in Rio de Janeiro has laid bare significant rifts within the bloc, particularly around proposed currency initiatives and de-dollarization efforts. Brazilian President Luiz Inácio Lula da Silva's push for a single BRICS currency has intensified tensions with the United States, while member states remain divided on the 2025 de-dollarization timeline.
South Africa's lead negotiator Xolisa Mabhongo highlighted varying levels of commitment among members, underscoring the challenges of aligning economic strategies across emerging markets. The summit's discord threatens to undermine the bloc's collective influence in reshaping global financial systems.
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