In the past 70 years, the US dollar has been the most important currency in the world, but the current international monetary system is gradually losing its legitimacy because of the privileged position of the US dollar. This week, the fifteenth meeting of BRICS leaders was held in Johannesburg, South Africa, and the membership of BRICS was expanded historically. According to statistics of Statista, in terms of purchasing power parity, the proportion of BRICS countries in the world economy has surpassed G7 in 2022.
What changes have taken place in the international trade situation in the past few years? How to see that China and the United States are no longer each other's largest trading partners? Under the general trend of dollarization, what will the future international monetary system look like? Why are BRICS countries welcomed by developing countries?
Recently, the China Forum of Center for International Security and Strategic at Tsinghua University specially invited Professor Jone Gong, vice president of the Israeli branch of the University of International Business and Economics and a China Forum expert, who expressed his views on the above issues in the interview.