The advance of the BRICS alliance will not be enough to dislodge the US dollar (USD) from its role as the world’s reserve currency, according to BNY Mellon. Experts say that the technological aspect will maintain the dollar’s presence in the global economy and that it is unlikely to lose its current dominant status. Meanwhile, … Read more
I’m Chris Anstey, a senior editor for economic policy in Boston, and today we’re looking at the latest round of international economic summits. Send us feedback and tips to ecodaily@bloomberg.net or get in touch on X (formerly known as Twitter) via @economics. And if you aren’t yet signed up to receive this newsletter, you can … Read more
President Xi Jinping began his third term with a diplomatic blitz that bolstered his image as a global statesman. Now, he’s skipping the world’s premier international forum of world leaders — and it’s not exactly clear why. It could be due to diplomatic sparring with India that Xi is snubbing the Group of 20 meeting … Read more
The expanded BRICS – what implications does it have for aviation … CAPA – Centre for Aviation Source link
I’m Monique Vanek, an Africa economics and government editor in Johannesburg, and today we’re looking at what could emerge as the biggest threat to the current world order. Send us feedback and tips to ecodaily@bloomberg.net or get in touch on X, the social media platform formerly known as Twitter, via @economics. And if you aren’t … Read more
KARACHI: In an era defined by shifting global dynamics, the emergence of BRICS (Brazil, Russia, India, China, and South Africa) as a united bloc has sparked discussions about a potential challenge to Western hegemony. This diverse group, now, represents over 3 billion people, 40% of the world’s population, and a significant share of global GDP. … Read more
The Circuit Hosted by high-profile journalist Emily Chang, The Circuit is a fast-paced, dynamic series that lives at the intersection of culture, tech, entertainment, and business. Every week, Chang will go on location to meet the world’s most fascinating founders, influencers, and innovators, conducting intimate interviews and bringing audiences behind the scenes of the most … Read more
China’s confirmed cases of Mpox rose nearly five-fold in July to a new high, even as government efforts to contain the infectious disease’s spread ramp up. Last month’s case count was 491, versus 106Bloomberg Terminal in June, according to a statementBloomberg Terminal from the Chinese Center for Disease Control and Prevention. All patients were male … Read more
Opinion | Stablecoins Can Keep the Dollar the World’s Reserve … The Wall Street Journal Source link
[Photo/VCG] The pressure toward the diversification of world currency reserves is longstanding. It intensified after 2008, but has escalated since 2022. It is a prime topic in the next BRICS Summit that”s likely to further intensify the trend. In 2016, US Treasury Secretary Jack Lew cautioned that “the more we condition the use of the … Read more