By Kouthar Sambo
The United States (US) President-elect Donald Trump threatened to impose 100% tariffs on a bloc of nine nations if they were to create a rival currency to the US dollar.
“The idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER,” Trump wrote on social media on Saturday.
*[The banknote which will replace the dollar]
Speaking on VOC’s PM Drive show, China/BRICS expert and Head of the China of the Africa Institute at the University of Johannesburg, Professor David Monyae, said the move is a threat, though there are numerous misconceptions.
“Firstly, there is no BRICS currency in the making, but rather, BRICS is aiming for de-dollarization via other means – this is simply the usage of local currencies for countries to trade and the US has no power whatsoever to stop nations trading in their own currencies,” explained Monyae.
Photo: sourced [Russia’s President Vladimir Putin presents banknote of a single BRICS currency, which will replace the dollar]
