The US Dollar may soon be getting the cold shoulder from five Countries that make up what is known as BRICS, which is the countries of (Brazil, Russia, India, China and South Africa). These all remain potent players in the global market. Their economic potential is far from exhausted and the US dollar is already feeling the pinch, German economist Ernst Wolff told Sputnik.
“The countries with so-called “transition economies” are rich in human and natural resources, but this advantage is being used mainly by foreign companies, which take out raw materials and exploit these countries’ cheap labor,” Ernst Wolff said. When asked whether it made sense buying shares in these transition economies, Wolf said that the securities markets of these countries no longer reflected the real economic situation there. CONTINUE