Brazil to propose embryo of Brics currency at summit

[Stranger in a strange land]

How would the BRICS currency avoid the issues that the Euro has faced, since the BRICS countries are much less-integrated and more unevenly developed than the Eurozone, and China, given its huge population and GDP, would be much more dominant within a BRICS monetary union than Germany is within the EU/Eurozone? 40% weight for the RMB sounds like a raw deal for China when it has 72% of the BRICS GDP (yes, you read that right. 72%).

[Stranger in a strange land]

What would it be called, the Pomposity?

The GLOBAL SOUTH, shurely?

BRICScoin

[Stranger in a strange land]

The summit has approved Brazil’s proposal for studies to be conducted on a new shared currency for intra-payments too!

Important to notice this is all very early stages though. Brazil’s hopes are for the studies to be made until 2025 (when it will hold Brics presidency) and if proven successful, the currency would be agreed with and announced during the 2025 summit in Brazil.

A common misconception is thinking that the currency would be a new Euro or something that would substitute national currencies when it would be designed for trade only, for all BRICS countries.

Then why not just use local currencies or use Yuan? The "BRICS currency" is reminiscent to me of occasional proposals to create an "Islamic Gold Dinar" or something similar for trade among Muslim countries: these are often announced with great fanfare but never seem to go anywhere.