Goldman Sachs Predicts the Future of BRICS Currency
Former Goldman Sachs Chief Economist Jim O’Neill, who coined the abbreviation ‘BRICS’ in a Global Economic research paper in 2001, spoke about the upcoming common currency during an interview with Business Today. The 16th summit in Russia’s Kazan region ended on Thursday with several developments and announcements taking place at the gathering. Also Read: The Gloves Are Off: BRICS Is Officially Challenging the US Dollar The first development was a mock-up BRICS currency given to Vladimir Putin showcasing the need for a common tender. The alliance is looking to end reliance on the US dollar and settle payments in the common currency. Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade. Also Read: Western Leaders React to BRICS 2024 Summit Former Goldman Sachs Economist Predicts the Future of BRICS Currency Source: Business Today TV The ex-Goldman Sachs Economist O’Neill, who coined the phrase BRICS is skeptical...