Hosting four of the largest emerging economies, the BRIC group, Brazil, Russia, India and China, announcing that a new reserve currency is needed undermines the ability of America continuing the superpower legacy.
For countries to unite and denounce the power and strength of the dollar, is an under-the-table attack at the world’s superpower, the United States.
Some may argue that it is time to “de-value” the dollor on a global scale. After all, China is funding the largest portion of the debt of the US. China also claims some $2 trillion dollars in reserves.
The three other countries of BRIC, have also shown their worth in todays growing global economy.