BRICS Archives - Political Economy Journal

Russia, China taking big step for phasing out Dollar

02

Oct

BRICS, China, De-Dollarization, Dollar, One Belt One Road, Russia, US

Russia, China taking big step for phasing out Dollar

PEJOURNAL - The dollar has been the world’s most important currency since World War II; it is the most common reserve currency and the most widely used currency for international trade and other transactions worldwide. The removal of the dollar from economic relations among countries and agreements to replace it with national currencies or other currencies in world trade is not an uncommon issue, but in recent years the process has intensified due to the measures of the US administration under Trump and Biden. In fact, political tensions between Washington and other countries have tarnished credibility of the US dollar…

G7, surrender to self-made crises

BY: Pooya Mirzaei PEJOURNAL - The idea of forming the G7 after the global oil crisis in 1973 convinced the powerful leaders of the world's major industrialized nations in 1975 that they needed closer and more coherent cooperation for the economic-security crisis caused by economic and oil shocks. But the failure of the Group of Seven in recent years, given the growth of tangible and intangible threats and the changing and fluid nature of threats, has led to the questioning of its existential philosophy. In the current context, and given the out-of-control crises, especially transnational ones, and the conventional and…

Political Economy Journal: BRICS; Risk or Opportunity

BY: Daniel Ranjbar The BRICS countries flags PEJOURNAL - The BRICS countries are trying to get other countries that are almost in a similar situation to join the group in order to achieve their collective goals with more power. The group currently covers more than 40% of the world's population, including Brazil, Russia, India, China and South Africa. But one of the main problems of the BRICS countries in expanding relations and strengthening their position is the small number of members and the geographical distance of the member countries of this group. The BRICS group symbolizes the imbalance created by…