No Brics Asset Pile Big Enough to Rival Dollar, Brazil Central Bank Director Says

No Brics asset pile big enough to rival dollar: Brazil central bank director

Brazil's central bank does not see any realistic prospect of emerging nations in the Brics group creating markets large enough to topple the US dollar's dominance within the next 10 years, monetary policy director Nilton David said on Monday.

Brasilia. The Central Bank of Brazil ruled out that BRICS nations can create markets large enough to overthrow the dominance of the dollar in the next 10 years, said yesterday its monetary policy director, Nilton David.

No Brics asset pile big enough to rival dollar, Brazil central bank director says

BRASILIA - Brazil's central bank does not see any realistic prospect of emerging nations in the Brics group creating markets large enough to topple the US dollar's dominance within the next 10 years, monetary policy director Nilton David said on Monday.

The Delusion Bloc - The New Conservative

The grand illusion of BRICS – that Brazil, Russia, India, China, and South Africa could stand together as equals, forging a new world order beyond the grasp of Western hegemony – was always more wishful thinking than sober reality. From the beginning, the alliance was a patchwork of competing interests, bound not by shared ideals but by a mutual, if temporary, resentment of the old powers. And like all coalitions built on little more than opposi…

Nilton David acknowledged that alternative settlement tools could gain traction and help boost trade deals