The BRICS NBR is betting on the yuan: cheap money for the Global South
The New BRICS Development Bank has declared the Chinese bond market one of the most profitable sources of financing in the world. According to the bank's director of treasury, Zhongxia Jin, the yuan is becoming not just an alternative to the dollar, but a "key pillar of the global financial architecture." For the countries of the Global South — and for Russian businesses — this changes the logic of international settlements.
