: The BRICS countries could compete and replace them, he added, according to Russia Today. The world needs something to compete with the US-dominated institutions, some of them - the World Bank and the IMF- have become corroded and ineffective. Petersburg. So, if BRICS offer any new structures that can compete with these long-standing decomposed institutions, it will be very good. Speaking about the lessening economic influence of the US dollar, the investor said its leading position can eventually be taken by another global currency. Good for the whole world, including Russia and China, Rogers said.
(news.financializer.com). As
reported in the news.
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