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From my understanding, it's these countries [1] vs US dollar. [1] https://en.wikipedia.org/wiki/BRICS#/media/File:Map_of_BRICS_members_and_other_countries_whic
by andreygrehov 3y ago
From my understanding, it's these countries [1] vs US dollar.
[1] https://en.wikipedia.org/wiki/BRICS#/media/File:Map_of_BRICS_members_and_other_countries_which_are_either_joining,_had_applied_to_join,_or_had_expressed_an_interest_in_joining_BRICS.svg https://en.wikipedia.org/wiki/BRICS#/media/File:Map_of_BRICS...
- rhaway84773 3y agoIf that’s indeed their strategy, and it appears it is, it’s great for the US since it means there are fewer countries it needs to subsidize by maintaining the strength of the dollar. And the countries that do stick to the USD enjoy an implicit cost advantage over the countries that don’t because they don’t have to bear the inefficiency costs of holding wealth in highly unstable currencies that are hard to convert.