BRICS

En octubre de 2008, tras la inestabilidad e incertidumbre ocasionada por la crisis financiera estadounidense, los bancos centrales de Brasil y Argentina firmaron un acuerdo de pago en moneda nacional. Después, esto se amplió a los países del Mercosur. Desde entonces, este mecanismo ha sido replicado y ampliado por los BRICS. En el presente artículo se analizarán las alternativas que han surgido, por la inestabilidad del dólar y las sanciones impuestas por EE.UU a 26 países. Es una alternativa al uso del dólar, como medio de pago y como unidad de reserva.

After Trump's return, the US has pushed a policy of budget cuts, economic deregulation, and trade war against its main partners: Canada, Mexico, Taiwan, and China. The explicit objective is to strengthen the US economy, and the implicit objective is to weaken China and its allies. After two and a half months in office, the effect has been negative on neighboring countries and has forced the Asian giant to take countermeasures.

In October 2024, the 16th BRICS summit was held in Kazan, Russia. One of the central themes was financial cooperation, which consisted of increasing trade in local currencies, which would benefit from reducing transaction costs, avoiding US trade sanctions and reducing payment processing times. In addition, it allows for greater exchange rate stability because it avoids the dollar's instability.

In 2024, the price of gold increased significantly, driven by China, which reduced its holdings of U.S. Treasury bonds and expanded its gold reserves. In the same vein, interest rates have fallen globally, which also boosts the price of gold. On the other hand, demand for the yuan as an exchange currency in intra-Asian trade has grown, especially in transactions between the Red Dragon and its trading partners or with countries sanctioned by the U.S., such as Russia, which reduces the use of the dollar. On the other hand, demand for the yuan has increased for international trade as a result of Washington's sanctions against 26 countries, showing a loss of the dollar as a medium of exchange. This article will analyse the rise in the price of gold during 2024, driven by the strategies implemented by the People's Bank of China (BPdeC), such as the issuance of dollar bonds and whether they consolidate the yuan as a reserve currency and turn the country into a global financial power.