BRICS wants 30% of NDB loans in local currencies
In another sign of weakening USD power, BRICS wants more loans independent of US currency.
At this point, it seems that the financial avalanche is speeding up. It's not at full speed yet, but BRICS is making another step to strengthen its independence from the US dollar. According to an interview recorded by Chinese CGTN with Dilma Rousseff, chief of the New Development Bank and former president of Brazil, the goal of this organization is to reach a level of 30% of the loans given by NDB in local currencies.
What is the West doing to counter that? What are we offering the developing countries to convince them that the BRICS and their vision of the future are suboptimal for them? These are all rhetorical questions. We are doing nothing. A steady decline of the West is developing, and nothing substantial is done about it.
Here is the 3 min clip with Dilma Rousseff:
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