Why would China want a BRICS currency instead of just CNY? It makes no sense. I'm sorry but this whole hyping up BRICS really is just India, Brazil, South Africa etcetc trying to use China's economy to boast themselves. Don't expect too much.
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- Thread starter bd popeye
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I don't think there's going to be a BRICS currency, I just don't see the point in it. An alternative to SWIFT is enough. Regions are already reducing their reliance on the dollar anyway and I see it as an irreversible trend.
The RMB can't function as a reserve currency. A reserve currency needs to be widely available so that other countries can keep large stockpiles of it. China is a massive trade surplus economy so all the excess RMB ends up flowing back to China. What they're doing in the meanwhile is to just do transactions in non-USD funds but I don't know if it's really possible to build an alternate reserve currency to it.
Engineer
Major
proelite
Senior Member
Brilliant.
Honestly, considering he is still in HS, showing interest and taking any initiative to be involved is rare.
Two countries with significant debt problems. One has a fiscally responsible party willing to make hard decisions and shoulder short term pain to quell the problem, the other elected a guy who bankrupted a casino because they were afraid of gays using the ladie's restroom.
FriedRiceNSpice
Major
Seriously how bad do you have to be at running a business to bankrupt a casino? Casinos are literally filled with money printing machines.
PeoplesPoster
Junior Member
all of Vegas looks to be going bankrupt if the current trend continues.
Its simple, India have boasted to everyone that it is first-rate military power. So we should judge them based those standards. Had India instead humbly considered itself a second-rate military power, then they shouldn't be judged that harshly.
I remembered a few years ago, a Jai Hind poster on this forum declared that Aero India is much better than the Zhuhai Airshow because numerous foreign companies are participating, while in Zhuhai, only Chinese companies are participating. My argument is that this shows the relative place of both India and China. In Aero India, foreign guests are more interested to sell their arms to India. While in Zhuhai, foreign guests are more interested to study or buy Chinese arms. Hence, India is much more comparable to Saudi Arabia than to China, Russia, or the US.