BRICS in Brazil – The Summit Explained

I don’t need to say much here. Lena Petrova has it all in hand to explain what is going on.

By the way, had you heard that Vietnam has now been accepted as a BRICS Partner Nation. The growth continues, but gradually, for now.

I will reserve judgement as to what Lena says about de-dollarisation, which she explains as not being a BRICS primary objective. Being more to do with members and partners trading in their own local currencies, thereby avoiding the need for Dollars and Euros to a large extent. But isn’t that transformation also a cutting out of the dollar and euro usage from the banking process – to the extent of their partial replacement in world trade at least? Thus diminishing the importance of those currencies and together with the loss of value from that, this would be a limiting factor I would say – directly or indirectly – to the value those countries currently gain from such trade. How is that so very different from the concept of de-dollarisation – or at least part of it?

I will wait to see who screams loudest. And no-one has screamed yet, although it is early days. I guess losses from other trading gaffs by those who drive those effected markets may have masked some of the gravitas already felt – if such is the case.

It is on this weekend. We will see what emerges.

‘BRICS Summit 2025 in Brazil, Explained’ – Lena Petrova – World Affairs in Context – July 6, 2025

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BRICS in Brazil – The Summit Explained

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