金磚國家高峰會結束，呼籲建立不受西方影響的獨立支付系統

一年一度的喀山金磚國家峰會即將結束。儘管備受吹捧的金磚國家數位貨幣並未實現，但一些成員對西方世界表示不滿，並呼籲成員國之間建立替代支付系統。

The annual BRICS Summit in Kazan is coming to an end. While the much-hyped BRICS digital currency did not materialize, some members did air their grievances with the Western world and called for alternative payment systems between member states.

一年一度的喀山金磚國家領導人會晤即將結束。儘管大肆宣傳的金磚國家數位貨幣並未實現，但一些成員確實向西方世界表達了不滿，並呼籲成員國之間建立替代支付系統。

Front and center was a call for independent payment systems. Russian President Vladimir Putin, Brazilian President Lula da Silva, and Iranian Ambassador Kazem Jalali all called for payment systems that are free from Western influence.

最重要的是呼籲建立獨立的支付系統。俄羅斯總統普丁、巴西總統盧拉·達席爾瓦和伊朗大使卡澤姆·賈拉利都呼籲建立不受西方影響的支付系統。

Jalali argued that the existing banking systems have regulations that only benefit Western countries. He called for alternative banking mechanisms and an independent financial messaging exchange system, slamming the existing system’s “biased standards” on counter-terrorism financing (CTF) and other financial regulations.

賈拉利認為，現有銀行體系的監管只對西方國家有利。他呼籲建立替代性銀行機制和獨立的金融資訊交換系統，並抨擊現有系統在反恐融資（CTF）和其他金融監管方面的「偏見標準」。

Brazil’s Lula couldn’t attend the Kazan Summit in person due to medical issues, but he called for similar measures. He noted how the bloc had already built the BRICS Development Bank as an alternative to the failing Bretton Woods systems.

巴西總統盧拉因健康問題無法親自出席喀山峰會，但他呼籲採取類似措施。他指出，該集團已經建立了金磚國家開發銀行，作為失敗的布雷頓森林體系的替代方案。

To no great surprise, Russia’s Putin echoed the same sentiment. Still reeling from the “theft” of $300 billion in Russian foreign exchange after he invaded Ukraine in 2022, he told BRICS members that they must develop alternative banking systems to stop the United States from using the dollar as a political weapon.

毫不奇怪，俄羅斯普丁也表達了同樣的觀點。 2022 年入侵烏克蘭後，俄羅斯 3000 億美元外匯被“盜竊”，他至今仍心有餘悸，他告訴金磚國家成員，他們必須開發替代銀行系統，以阻止美國將美元用作政治武器。

“The dollar is being used as a weapon. We really see that this is so. I think that this is a big mistake by those who do this.” – Vladimir Putin

「美元被用作武器。我們確實看到確實如此。我認為這樣做的人犯了一個很大的錯誤。 ——弗拉基米爾‧普丁

Russia is leading the charge for an alternative system

俄羅斯正在引領替代系統的發展

Having lost the most from sanctions and foreign exchange freezes after the invasion of Ukraine, it’s probably no surprise that Russia is at the front of the pack when it comes to pushing for alternative BRICS systems.

入侵烏克蘭後，俄羅斯因制裁和外匯凍結而損失慘重，因此在推動金磚國家替代體系方面走在前面可能並不奇怪。

Indeed, most recent rumors about the BRICS currency have come from Russia. Putin’s moves to legalize and regulate digital currencies and offer Bitcoin miners excess energy, as well as a recent paper released by the Bank of Russia and others, have led to heated speculation in recent months.

事實上，最近有關金磚國家貨幣的傳言大多來自俄羅斯。普丁推動數位貨幣合法化和監管、為比特幣礦工提供過剩能源的舉措，以及俄羅斯央行和其他機構最近發布的一篇論文，引發了近幾個月的激烈猜測。

Alas, no BRICS digital currency was unveiled at the Kazan Summit. For now, Russia will have to continue using BTC and other digital currencies to evade sanctions while BRICS turns up the dial on using national currencies between members.

可惜的是，喀山峰會上並沒有推出金磚國家數位貨幣。目前，俄羅斯將不得不繼續使用比特幣和其他數位貨幣來逃避制裁，而金磚國家則開始在成員國之間使用其貨幣。

All told, the Kazan BRICS Summit was somewhat of a letdown from a news perspective; it was basically a grievance fest against the West with more calls for what some members have already been pushing for since 2010 in some form or another.

總而言之，從新聞角度來看，喀山金磚國家高峰會多少有些令人失望。這基本上是一場針對西方的不滿盛宴，更多地呼籲一些成員自 2010 年以來一直以某種形式推動實現這一目標。

Could de-dollarization benefit the United States?

去美元化對美國有利嗎？

De-dollarization is a trend and is set to accelerate, but there was nothing in Kazan that would make anyone in Washington or elsewhere worry. With so many different political interests within BRICS itself, it’s unlikely any payment system it does develop will pose a serious challenge to the current one.

去美元化是一種趨勢，並且將會加速，但喀山沒有任何事情會讓華盛頓或其他地方的任何人擔心。由於金磚國家內部存在著如此多不同的政治利益，它開發的任何支付系統都不可能對目前的支付系統構成嚴重挑戰。

However, if BRICS does manage to de-dollarize in the coming decades, it’s not all bad for the United States. While having the global reserve currency gives America power in the form of a strong currency and the ability to wield sanctions, it also comes with drawbacks.

然而，如果金磚國家確實能夠在未來幾十年內實現去美元化，對美國來說也不全然是壞事。雖然擁有全球儲備貨幣賦予美國強勢貨幣形式的權力和實施制裁的能力，但它也有缺點。

How so? Having the world reserve currency leads to the Triffin Dilemma. This conflict of interest means that to shore up global liquidity, the U.S. has to run trade deficits, providing the world with dollars. If it stopped doing so, the world economy could plunge into contraction, causing global economic instability. Essentially, the Federal Reserve and the U.S. government must constantly try to balance the needs of the U.S. with the needs of the world, and its decisions can have global consequences.

為何如此？擁有世界儲備貨幣會導致特里芬困境。這種利益衝突意味著，為了支撐全球流動性，美國必須維持貿易逆差，為世界提供美元。如果它停止這樣做，世界經濟可能陷入收縮，導致全球經濟不穩定。從本質上講，聯準會和美國政府必須不斷努力平衡美國的需求與世界的需求，其決策可能會產生全球影響。

De-dollarization would also inevitably weaken the USD, but this isn’t all bad either. Given America’s pivot back to manufacturing at home, a weaker dollar could help make its exports and services more competitive. This would benefit sectors like manufacturing and agriculture the most.

去美元化也將不可避免地削弱美元，但這也不全然是壞事。鑑於美國重心轉向國內製造業，美元疲軟可能有助於提高其出口和服務業的競爭力。這將使製造業和農業等行業受益最大。

As always, there are trade-offs, and de-dollarization is a huge change with many potentially unpredictable consequences. Regardless, even if BRICS pulls it off and convinces other countries to go the same way, there will be opportunities for the U.S. and the rest of the Western world, too.

一如既往，需要權衡取捨，去美元化是一個巨大的變化，會帶來許多潛在不可預測的後果。無論如何，即使金磚國家成功並說服其他國家也走同樣的道路，美國和其他西方世界也將有機會。

Watch: New age of payment solutions

觀看：支付解決方案的新時代