Dollar Poses Dilemma for Bric Countries
June 16, 2009 by admin · Leave a Comment
Brazil, Russia, India and China, collectively known as the Bric countries, are holding their first formal summit in the Russian city of Yekaterinburg.
On the agenda is the role of the dollar and its status as the world’s dominant currency.
China, Russia and, to a lesser extent, Brazil have expressed a desire to see the dollar one day replaced as the world’s main trading currency.
And fears that these big holders of dollar assets may be looking to switch from the US currency have unsettled financial markets and US politicians. Read more about the Bric countries…
