Brazilian expert: Dollar alternative on BRICS radar

The BRICS Summit in Johannesburg, South Africa, from Aug 22 to 24 has garnered global attention.

In anticipation of the summit, economists have debated the potential introduction of a "common currency" by BRICS nations as an alternative to the US dollar, arguing over its feasibility and implications.

What has prompted this discussion on a "common currency"? What would be the significance of such a new monetary mechanism among member countries? Could it potentially replace the current dollar-based system? To gain further insight, we turn to Ronnie Lins, director of the China-Brazil Center for Research and Business.