BRICS Could Start Knocking Down USD Payments Pillar

Last year, Brazilian President Luiz Inácio Lula da Silva called for a BRICS common currency. The economist who first gave the bloc its name said that idea was almost “embarrassing.”While the setup of a common currency is practically challenging, the bloc — which comprises Brazil, Russia, India, China, and South Africa, which make up its acronym, along with Iran, Egypt, Ethiopia, and the…