Will Brazil, Russia, India, and China Abandon the U.S. Dollar?

By U.S. News Staff

June 17, 2009 RSS Feed Print

Reports the Associated Press: "Brazil, Russia, India and China [the BRIC nations] on Tuesday called for a more diversified international monetary system...avoiding any explicit criticism of the world's dominant currency, the U.S. dollar." How serious are the members of the BRIC about abandoning the U.S. dollar? Would this hurt the United States? The BRIC countries? All of the above? Post your thoughts.

Previously: Does Obama Secretly Want Ahmadinejad to Win?

Take our poll: Will Russia, Brazil, India and China Abandon the U.S. Dollar?

Tags:
Russia,
global economy,
India,
Brazil,
United States,
China,
money

Reader Comments Read all comments (6)

Add Your Thoughts
Your comment will be posted immediately, unless it is spam or contains profanity. For more information, please see our Comments FAQ.

I think that the BRIC will probably maximize non-dollar denominated trades, but because the dollar is still the current international currency that they will keep plenty on hand for all their raw material buying in places where the rimimbi, rupi and ruble isn't readily available.

They might want to weaken the dollar in order to destabilize the US, which in the short run would benefit them but in the long term might come back to haunt them if they need the US market to sell their surplus.

steve of FL 9:57AM July 03, 2009

If all BRIC Nations really want to survive and grow in strength; and prosperity in THIS AGE; they need to set a minimum wage, that is no lower than the minimum wage in the USA,in all manufacturing industries that supply goods to the US of America, thereby leveling the playing field; by doing so the employment situation will be cured in the US OF A, and the PROSPERITY OF THE NATION THAT COULD MAINTAIN WORLD PEACE AND ORDER BE PRESERVED.

ALICE LUTCHMANSINGH of NJ 11:10PM June 27, 2009

If all BRIC Nations really want to survive and grow in strength; and prosperity in THIS AGE; they need to set a minimum wage, that is no lower than the minimum wage in the USA,in all manufacturing industries that supply goods to the US of America, thereby leveling the playing field; by doing so the employment situation will be cured in the US OF A, and the PROSPERITY OF THE NATION THAT COULD MAINTAIN WORLD PEACE AND ORDER BE PRESERVED.

ALICE LUTCHMANSINGH of NJ 11:10PM June 27, 2009

Cartoons

advertisement

Debate Club

Was 2011 One of the Worst Years for the U.S. Government in American History?

Experts debate where 2011 ranks among Washington's worst years.

Latest Video

Thomas Jefferson Street Blog

It’s Washington’s Birthday—Not Presidents' Day

It's time for Obama and Congress to give Presidents’ Day back to George Washington.

Cuba Is Reforming, But Not Nearly Enough

Cuban officials exaggerate the extent of reforms being enacted in the Castro brothers' Cuba.

Rick Santorum Will Spell Doom for Republicans in November

If it nominates Rick Santorum over MItt Romney, the GOP will lose the White House and elections at all other levels.

Obama's Energy Policy Isn't 'Crony Capitalism'

A majority of the energy companies who have received funds under Obama are thriving

Michigan Is a Must-Win ... For Rick Santorum

Winning in Michigan is at least as important to Santorum's campaign as it is to Romney's.

Why the Catholic Contraception Controversy Is So American

Politically speaking, the contraception controversy is a quirk of the way we pay for healthcare.

The Upside of the Racist Hoekstra Ad

In this era of nasty political rhetoric and advertising, the public will draw the line at something brazenly racist.

Barack Obama's Budget Is Even Worse Than It Looks

If Obama's budget for FY 2013 is adopted as written, the federal budget would never balance again.

advertisement

  1. Intel Official: Iranian Missiles Could Hit Nearby U.S. Targets, Europe
  2. CBO: Longest Period of High Unemployment Since Great Depression
  3. The 50 Best Careers of 2011
  4. 7 Things That Turn Off Employers During an Interview
  5. 9 Tips to Make Your Resume Stand Out