BRICS plans to transform the international monetary and financial system, and discussed policies at the 2024 summit in Kazan, Russia. Can it successfully challenge the dominance of the US dollar? Political economist Radhika Desai is joined by Ben Norton and former central banker Kathleen Tyson, author of the book "Multicurrency Mercantilism". VIDEO: https://www.youtube.com/watch?v=X7ejfZdPboo This is part of the show Geopolitical Economy Hour. You can watch other episodes of the program here: https://youtube.com/playlist?list=PLDAi0NdlN8hMl9DkPLikDDGccibhYHnDP You can follow Kathleen on Twitter/X here: https://x.com/kathleen_tyson_ Topics 0:00 Highlight 1:24 Intro: 2024 BRICS summit in Kazan, Russia 7:33 Evaluating BRICS proposal to improve financial system 16:47 De-dollarizing trade vs capital markets 24:50 Can a global currency solve the Triffin dilemma? 29:10 Investment flows from poor to rich 30:44 Capital controls 37:16 Could Special Drawing Rights (SDRs) be a new global reserve currency? 42:17 Can a currency backed by a basket of commodities help settle trade imbalances? 48:38 Financial deregulation, Glass-Steagall, and China 53:21 HSBC splits between West and East 55:18 How can central banks de-dollarize reserves? 1:02:35 Controlling finance 1:09:01 What can China do with its huge surplus? 1:16:11 Outro