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BRICS currency: a dream or reality? Former Goldman economist warns!
Goldman Sachs' ex-economist Jim O'Neill discusses the future of the BRICS currency and internal challenges.
BRICS currency: a dream or reality? Former Goldman economist warns!
Explosive Talk at the BRICS Summit! Former Goldman Sachs Chief Economist Jim O’Neill, the mastermind behind the term “BRICS,” dialed up the skepticism during a candidate chat with Business Today. The 16th summit in Russia’s Kazan left jaws dropping with the announcement of a mock-up BRICS currency! The message was loud and clear – a common ticker to ditch Uncle Sam’s greenback according to information from watcher.guru.
O’Neill took a sledgehammer to the idea, branding the BRICS currency a “distant dream.” Let’s face it, folks, with the US and Europe on one side and China and India not exactly singing kumbaya, it’s a clash of titans! The economist spotlighted the internal rifts that threaten to shake the BRICS from its very core. China and India, tangled in border spats, are the poster children for this turmoil. His verdict? If these giants don’t smother their age-old gripes, dreams of leading the world’s money parade are a miracle!
And he didn’t mince words – the bloc’s achievements over the past 15 years? Barely a blip on the radar. Until China and India bury their issues and shake hands over the big stuff, BRICS currency ruling the roost globally remains a pipe dream, according to O’Neill as watcher.guru reports. Keep those eyes peeled!