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[Music] is the United States dollar under threat well the U.S dollar became the backbone of the global economy after World War II because of Americas robust economy its democracy and its transparent regulatory systems which made the nation seem like a safe place for international investors but now the brics Nations Brazil Russia India China and South Africa have announced plans to develop a new currency their goal is to reduce Reliance on the U.S dollar and other Western currencies as well and protect themselves from International pressure in fact Brazil and China have already struck a deal to bypass the dollar when paying for trade goods which is a major milestone in beijings long-term plans to establish its own currency the Yuan as the dominant International currency so what will this new currency look like and what will it mean for the dollar well joining us now is professor John quiltz from the Miami Herbert business school at the University of Miami so the brics Nations arent
