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3min chapter
Would a BRICS Common Currency Work?
Patrick Boyle On Finance
The Role of Reserves in Central Banks
The term BRICS was originally coined in 2001 initially as BRICS by the Goldman Sachs economist Jim O'Neill. In December 2010 South Africa was added to the list and the acronym was changed from BRICS to BRICS. There's no reason to think that a currency union between this group makes any more sense than a currency Union between any randomly selected group of nations. When you really get down to it, it's just China that actually matters.
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