BRICS declaration targets trade, debt and global reform - Channel Africa
BRICS declaration targets trade, debt and global reform - Channel Africa
Source: Channel Africa
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DW NOTE
BRICS declarations on trade and debt have produced precisely zero operational results since the bloc's founding. Brazil still conducts 89% of its trade in dollars, South Africa's rand remains pegged to dollar-denominated commodity flows, and India has rejected yuan settlement for Russian oil purchases three separate times since 2023. The only measurable outcome of BRICS summits is airport traffic in host cities.