> You have to wonder why American media is censoring news about a growing geopolitical bloc that is completely focused on destroying the value of the US dollar
It’s front page on Bloomberg and the Journal [1][2]. To the degree global summits get any coverage in American media, this is a lot.
The idea that the New Development Bank is going to create a rival currency is theatre [3]. And the idea that the American economy would collapse if the dollar lost its reserve status is based on the petrodollar hypothesis, an outdated concept at best and debunked myth most realistically. (Many American monetary policymakers argue dollar hegemony is bad for the American economy.)
In summary, a better indication for your observation of disinterest is this article’s upvotes and moribund comment section: a hodgepodge talkfest is not interesting.
The BRICS Group Announces New Members, Expanding Its Reach
Argentina, Egypt, Ethiopia, Iran, the U.A.E. and Saudi Arabia have been invited to join the club of emerging nations, strengthening its role as a geopolitical alternative to Western-led forums.
China and India, the two largest economies in the grouping have extreme capital controls. Forget about the why, it's not even feasible for the Saudis to shift their reserves to renminbi and rupees.
