In the long term, the goal is the creation of a world governed by multipolarity with other options besides U.S. dollar settlement. In short, BRICS is preparing to unseat the U.S. dollar and Petrodollar as the world reserve currency, and, in so doing, dial back power relations born after the end of the Cold War with the United States as dominant on the world stage.
Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates have all been invited to become members of BRICS, said South African President Cyril Ramaphosa, who hosted a three-day summit of the emerging markets group in Johannesburg this week.
Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates have all been invited to become members of BRICS, said South African President Cyril Ramaphosa, who hosted a three-day summit of the emerging markets group in Johannesburg this week.
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