>They aren't looking to unsettle the dollar, but be less reliant on it. The prominence of the dollar, aside from US productivity and scale, and the reasons why

>They aren't looking to unsettle the dollar, but be less reliant on it. The prominence of the dollar, aside from US productivity and scale, and the reasons why it is the most exchanged currency in the world, is due to its stability, or in other words, how well it holds value over time. That's pretty much it. However, "that's pretty much it" rather understates the difficulty of achieving the same thing in currencies of countries that lack fiscal transparency, political stability and have higher levels of corruption and volatility in banking sectors. It's not a secret formula. If the BRICs countries succeed in the political reforms needed to establish currency confidence in their alternate reserve to which investments can be pegged, the world might be a better place. So here's hoping.