The BRICS currency would be central to the Chinese YUAN,
This would mean;
1, Members of BRICS would need to compromise their countries currency with China. This would mean economic and political obligations. India and Brazil have voiced their dissatisfaction in regards to this arrangement and are concerned that china will use BRICS to be more dominate in the pacific especially towards Taiwan.
2, It would not be in the interests of China YUAN to become a reserve currency ! This is why the current Chinese economy is a 2 tier system of the RMB and Yuan. China wants to protect their economy to prevent too much money flowing off shore due to political and economic reasons.
