The BRICS trading system is already wiping out US farmers, as global price discovery is destroyed

The BRICS trading system is already wiping out US farmers, as global price discovery is destroyed - Inside China Business
Millions of tons of annual agricultural trade is now being conducted outside the US dollar, and within the new BRICS framework.

This represents a tectonic shift in global finance, as the dominant trading hubs of New York, Chicago, and London are replaced by a multipolar system of bilateral trades using national currencies and non-USD-denominated pricing and contracts.

The already huge volumes of trade in ag, energy, and raw materials are destroying price discovery in global markets. Decisionmakers and executives in Western companies are unable to see markets, nor can they know what parties are driving demand, nor which suppliers are emerging to meet that demand. Our senior-level business managers and planners are flying blind, and only after realizing giant losses we learn that we are now suppliers only of last resort: the BRICS countries and their allied countries across the world are producing and trading at prices far below our cost of production.