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BRICS currency

USD Is Still King of All Currencies Despite Fears of It Losing Global Dominance

‘In the end, the USD’s centrality to the system of global payments also increases the power of sanctions it imposes on other countries or individuals. In truth, since almost all trade is done in American dollars, even trade among other…
(From L to R) President of China Xi Jinping, President of Brazil Luiz Inacio Lula da Silva, South African President Cyril Ramaphosa and Prime Minister of India Narendra Modi gesture during the 2023 BRICS Summit at the Sandton Convention Centre in Johannesburg on August 24, 2023. (Photo by Marco Longari / AFP)

15th BRICS Summit: What Can Hungary Learn from the Efforts to Restructure Global Economic Architecture?

Both the G7 and the BRICS countries are led by self-interest. Superpowers are superpowers, whether they are Western or Eastern: they intend to expand their influence on the global stage. The lesson for Hungary is to maintain good relations with…

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