this post was submitted on 05 Sep 2025
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If anything the Euro would need to do it. Europe, Canada, Japan, they won't trust a BRICS currency. Within BRICS it might work but it wouldn't replace the dollar in that case.
Euro won't work. For other countries to use the Euro, they need to have Euro stocks. For this, the EU needs to (1) run a deficit, and (2) manufacture something of value to the rest of the world. But the EU won't run a deficit, and its manufacturing sector is collapsing.
The point would be to not be tied to a single currency
The BRICS currency would be a single currency, administers by an assortment of countries. In essence the BRICS currency would be just like the Euro but with an international pariah (Russia) and a country with a history of heavy-handed policy towards business (China) being major players.