BRICS

While Chinese growth is faltering, Beijing is not hesitating to open the floodgates of fiscal and monetary stimulus in order to try to boost its battered economy. With credit easing, early distribution of local borrowing quotas, and massive issuance of government bonds, the Middle Kingdom is multiplying unprecedented expansionary measures. Objective: to regain vigorous growth by 2024.

The BRICS have officially decided to leave the dollar. In the meantime, the question of the currency's use in settling international transactions seems to be a point of contention between the member countries. Here's what it's all about.