Can BRICS offer an alternative global monetary order?

Wong Chin Yoong

Brazilian President Lula de Silva has called for the creation of a common currency for trade and investment among the BRICS nations during the bloc’s recent summit in South Africa. – AFP pic, August 31, 2023.

THE call for de-dollarisation has been discussed for decades by the likes of former French president Charles de Gaulle in the 1960s and in more recent times Brazil President Lula da Silva.

“US imperialism leaves no field unoccupied. It takes every form, but the dollar is the most insidious”, said de Gaulle, expressing his discontent with the US dollar as a reserve currency.

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