This year's BRICS convention was really under the radar. I tried following it live, but couldn't. And it definitely wasn't clear that nine new nations would join.
For now some of them are using crypto coins, mostly Bitcoin, but if they will agree on a common coin shared between them, it will be a serious blow to the US Dollar supremacy even not from the start but on the long term. Also, other coins used in international transaction will be affected like Euro, UK pound, Swiss franc, e.t.c.
This will lead to a seriously US Dollar inflation but also some of the other mention coins.
they don't buy much of each other currency reserves to affect them that way but rather just setup and get into projects and trades with each other. sharing a coin reserve between them is basically that with the extra step of jacking off in between
I've always wished for something like the EU for us non-westerners (the GCC doesn't count, it's pathetic) but this just isn't it. I prefer not to be lumped in with Russia, Iran, China, et cetera (tbf, KSA isn't much better :/) Maybe a MENA union? i highly doubt it with the current situation.
Also, which dumb fuck decided to put India-Pakistan, Saudi-Iran with each other?