The two-day BRICS summit is taking place in Johannesburg, South Africa, and includes heads of state from aspiring members such as Iran and Saudi Arabia as the bloc looks to expand.
"Led by Russia and China, the BRICS was founded with the primary mission of replacing Western-built and dominated financial architecture with an alternative, non-Western one and to counter U.S. and Western geopolitical influence," Koffler said.
Koffler argued that the plans to create a BRICS currency arose from frustration with the U.S. weaponizing its currency to punish countries it disagreed with or opposed politically. "Higher prices on everything we import from other countries: higher taxes, higher inflation, higher rates on loans, unemployment, you name it," she added, saying that"Russia and China’s propaganda is precipitating this trend."Overall, around 1,200 delegates from the five BRICS nations and dozens of other developing countries are expected in Johannesburg, including more than 40 heads of state, according to South African President Cyril Ramaphosa.
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