An Insight Into Tasks For The Forthcoming BRICS Summit

An in-depth analysis of the historical dynamics indicated BRICS, an informal association consisting Brazil, Russia, India, China and South Africa plus its newly-incorporated four members, are gearing to launch its own payment system, definitely dealing a hypersonic blow to over-dependence on the American currency, the dollar. The BRICS payment system has been in the works since the New Development Bank (NDB) was established in 2015. Noticeably BRICS, with most of its development and financial initiatives, its operations and collective activities are characterized by policy rhetoric of geopolitical confrontation. As the geopolitical tension heightens, BRICS is increasingly becoming serious with its…