The BRICS Summit in Johannesburg, South Africa, from Aug 22 to 24 has garnered global attention.

In anticipation of the summit, economists have debated the potential introduction of a "common currency" by BRICS nations as an alternative to the US dollar, arguing over its feasibility and implications.

What has prompted this discussion on a "common currency"? What would be the significance of such a new monetary mechanism among member countries? Could it potentially replace the current dollar-based system? To gain further insight, we turn to Ronnie Lins, director of the China-Brazil Center for Research and Business.