The American System Is Almost Finished Too

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The American System Is Almost Finished Too

“BRICS impact on global trade and U.S. agriculture”

American System is Almost Finished Because of BRICS.
Hello friends. This is Professor Singer. Although I’m American I repatriated from the United States and now reside permanently in Africa.
The doors of opportunity are opening up for farmers in the Global South. Africa controls two thirds of all of the land n the world capable of producing food. Did you know that? That means African entrepreneurs and innovators now have a golden opportunity to participate in a highly lucrative future. The BRICS countries—Brazil, Russia, India, China, and South Africa—have formed an organization that now includes, or is about to include, a dozen more countries. A major draw for countries joining BRICS is the development of a new global trading system, independent of the American-led system based on American dollar trading and the SWIFT banking system. The system that American people use in Western countries—where trade is denominated by American dollars and executed by Western banks—has obvious advantages for us but disadvantages for everyone else. If we’re honest, there’s no logical reason why a farmer in Brazil selling soybeans to China should need to use an American bank or the Chicago exchange to finalize the deal, or even need American dollars to do so. American banks would be paid to convert Chinese yuan to American dollars and then charge Brazil for converting those dollars to Brazilian reais. It’s slow, it’s expensive, and it’s the system we’ve used up until now. But that system is going away.

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Questions?? Contact me any time at profsinger@inventionschool.tech
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Mechanical/Solar Engineer, Prof. Oku Singer

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