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Whatever is decided at the BRICS summit, the club of emerging countries is now a global alliance that the West can no longer afford to ignore. Their new self-confidence, along with their large populations and economic power, will change the world.
By Frank Sieren
A departure from the US dollar as a trade currency is one of the topics being pushed at the BRICS summit, especially by China. Indeed, the yuan has made progress as a trading currency. However, it cannot take over the role as a reserve currency – it lacks the necessary free tradability.
By
German Education Minister Bettina Stark-Watzinger is concerned about an outflow of German research to the Chinese military. She is now urging German universities to scrutinize all current scientific cooperation. However, they say that there is simply not enough money to make cooperation more secure.
By Tim Gabel
