How the BRICS Bank is resisting US financial domination
Geopolitical Economy Report
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The BRIC's Bank Announces Its New President Is Dilma Rousseff
The BRIC's bank plans to give nearly one-third of its loans in other currencies, not the US dollar. The New Development Bank is particularly important here because it is an alternative to the World Bank, which has a history of trapping global South countries in debt like this. "When they're trading in the US currency, it actually helps the United States strengthen its economic power"
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