Jim O’Neill, the economist who coined BRIC, told Reuters that building alternatives to the US dollar is “no longer a fantasy,” citing advances in payment technology over the past 18 months. He noted BRICS has delivered limited policy results beyond the New Development Bank, but discussions continue around BRICS Pay, links between UPI, CIPS, and PIX, and possible CBDCs.
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BRICS Dollar Alternative No Longer a Fantasy
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