159 countries to adopt the new BRICS payment system

The BRICS nations, which include Brazil, Russia, India, China, and South Africa, have been seeking to reduce their dependence on the US dollar and create their own payment system. This move is seen as a significant step towards de-dollarization, a process that has been gaining momentum in recent years.

The new payment system is expected to have a major impact on the global market, allowing countries to bypass the US dollar and use their own currencies for international transactions. According to Elvira Nabiullina, the governor of the Russian Central Bank, the system will be a "replacement for the international financial settlement system SWIFT."

Weibo users reacted to the news with a mix of excitement and skepticism. Some users, such as @大笨猫, welcomed the move, saying it would "reduce the dominance of the US dollar and promote the internationalization of other currencies." Others, like @我是银行家, expressed doubts about the feasibility of the project, pointing out that the "technical and operational challenges of creating a new payment system should not be underestimated."

Despite the skepticism, many users saw the move as a significant step towards greater financial independence for countries that have historically been reliant on the US dollar. As @金融客观分析 put it, "the era of US financial hegemony is coming to an end."

Some users also noted that the move was likely driven by the economic sanctions imposed on Russia by Western countries. @随便走走 said, "the West's sanctions against Russia have accelerated the process of de-dollarization." Others pointed out that the new payment system would also benefit businesses, allowing them to conduct international transactions more easily.

However, not all users were optimistic about the new payment system. @odal先 said, "I don't think this system will be adopted by many countries. It's just a publicity stunt by Russia to counter the West's sanctions." @yeonn54 similarly expressed skepticism, saying, "I don't think the technical infrastructure is in place to support this system."

Overall, the announcement of the new payment system has generated significant interest and debate on Weibo, with users weighing the potential benefits and drawbacks of the move. While some see it as a significant step towards financial independence, others have expressed skepticism about the feasibility and impact of the project.

In terms of the potential impact of the new payment system, @yeyelines noted that "if successful, this system could reduce the role of the US dollar in international transactions and promote the use of other currencies." @Finance666 similarly said, "this system could be a game-changer for international trade and finance."

The launch of the new payment system is expected to have far-reaching implications for the global economy. As @BHwbJack put it, "this is not just about Russia and China, but about the future of the global financial system." Whether the system will be successful in achieving its goals remains to be seen, but one thing is clear: the BRICS nations are determined to create a new financial order that is more inclusive and less reliant on the US dollar.