BRICS - Eastern Alliance

Brazil, Russia, India, China, South Africa
It will be based on a currency basket of the five-nation bloc, according to the Russian president © Getty Images / Jorg Greuel President Vladimir Putin said on Wednesday that the BRICS countries – Brazil, Russia, India, China, and South Africa – are currently working on setting up a new global reserve currency. “The issue of creating an international reserve currency based on a basket of currencies of our countries is being worked out,” he said at the BRICS business forum. According to...
Economic cooperation between Brazil, Russia, India, China, and South Africa has been surging, Chinese customs data shows © Getty Images / Future Publishing / Contributor China’s foreign trade with other BRICS member states amounted to 1.64 trillion yuan ($244 billion) in the first half of the year, up 14.1% in annual terms, according to data from the General Administration of Customs of China (GACC), as cited by the Global Times on Wednesday. The data shows that the value of exports...