BRICS has been planning on developing a new currency. This development indicates that the world might be shifting away from the US dollar. The motivations of some members of the emerging economies do vary. China seeks to be more competitive in the global market. Russia wants more economic connections in Asia and Africa seeing as relations in Europe are in decline. India wants to expand economic growth. Brazil has a desire to unlock more business opportunities. South Africa has been exploring ways to combat economic inequality. The motivations to move away from the US dollar differ among BRICS members. One currency among members of emergent economics could be useful. There markets would not be so dependent on the US or Europe. Tensions between members could cause such a project to be stalled. India and China have had border disputes. All members do not agree about Russia's invasion of Ukraine. If the currency is successful, questions remain about the chance of more countries becoming members. The global financial system is headed for a drastic change. Multipolarity will not just effect international affairs, but also the world economy. The name proposed for this new currency would be called the R5. Doing this could mean that sanctions could no longer harm Global South nations. It is not certain if the R5 would protect nations from a global financial collapse. The Global South appears to be asserting a type of economic independence. The measure of success depends on how economically secure citizens are and if the currency maintains a high value.
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