Understanding BRICS

We hear lots of speculation and misunderstandings about BRICS. We thought we could help explain what it is, and what it is not, and so explore some of the implications of its rise.

Commercial Summary: BRICS aims to permit bilateral trade and to bypass American and European sanctions, without imposing any universal rules. It is less than a free trade area. It is very unlikely to develop an independent currency: its main purpose is trade and monetary autonomy, and a unified currency undermines that. BRICS is intended to prevent the …