History doesn’t stand still, and every time we talk about BRICS on this podcast, there’s more to unpack. To understand the significance of BRICS, we must begin with (wait for it) monetary sovereignty.

Economist Yan Liang is an expert on China’s economy and MMT. She joins Steve to discuss the evolving role of the BRICS nations (Brazil, Russia, India, China, South Africa) and the increasing number of countries becoming involved in challenging US dollar hegemony and the current global financial system.

Weaponizing of the US dollar has reached an all-time high. Yan explains the specific ways in which US-dominated international institutions and dollar dependency impede development in the Global South.

The episode looks at the significance of de-dollarization and its possible long term effects. Yan also touches on the importance of technology transfer and intellectual property rights in building sustainable economies.

Yan Liang is Peter C and Bonnie S Kremer Chair Professor of Economics at Willamette University. She is also a Research Associate at the Levy Economics Institute, a Non-Resident Senior Fellow at the Global Development Policy Center (Boston University), and a Research Scholar of the Global Institute for Sustainable Prosperity.

Yan specializes in the Modern Monetary Theory (MMT), the Political Economy of China, Economic Development, and International Economics. Yan’s current research focuses on China’s development finance and industrial transformation, and China’s role in the global financial architecture.

#BRICS​ #China​ #LearnMMT​ #GlobalSouth​ #dedollarization​ #Globalatization​ #FinancialSystems​ #MonetarySovereignty​ #IntellectualProperty​ 

@YanLian31677392 on X

Chapters:

00:00​ Introduction and Guest Introduction
01:50​ Discussion on BRICS and Global Geopolitical Changes
07:00​ Economic Risks and Over-reliance on the Dollar
15:11​ MMT and International Financial Systems
22:18​ Accumulation and Diversification of Reserves
34:43​ Clarifying Job Losses and Globalization
35:21​ The Role of Technology and Financialization
35:59​ Understanding Modern Monetary Theory (MMT)
36:25​ MMT and Government Spending
37:24​ The Impact of US Policies on Global Stability
38:38​ BRICS and the Multipolar Currency System
39:17​ Challenges and Opportunities for BRICS
41:33​ Building Alternative Financial Systems
47:41​ The Role of Digital Currency in BRICS
50:58​ Future of Global Trade and Investment
56:01​ Intellectual Property and Technological Transfer
01:03:23​ Concluding Thoughts and Call to Action