BRICS Financial Settlements
The background to the recent discussions between the BRICS countries on international monetary and financial matters and, in particular, on possible joint initiatives is well-known in general. There is, first and foremost, an increasingly widespread perception that the current US dollar-centred international monetary system is becoming dysfunctional. Second, the increasing multipolarisation of the world in economic and political terms seems inconsistent with the indefinite continuation of a basically unipolar world…