History doesn’t stand still, and every time we talk about BRICS on this podcast, there’s more to unpack. To understand the significance of BRICS, we must begin with (wait for it) monetary sovereignty.   

Economist Yan Liang is an expert on China’s economy and MMT. She joins Steve to discuss the evolving role of the BRICS nations (Brazil, Russia, India, China, South Africa) and the increasing number of countries becoming involved in challenging US dollar hegemony and the current global financial system. 

Weaponizing of the US dollar has reached an all-time high. Yan explains the specific ways in which US-dominated international institutions and dollar dependency impede development in the Global South.   

The episode looks at the significance of de-dollarization and its possible longterm effects. Yan also touches on the importance of technology transfer and intellectual property rights in building sustainable economies. 

Yan Liang is Peter C and Bonnie S Kremer Chair Professor of Economics at Willamette University. She is also a Research Associate at the Levy Economics Institute, a Non-Resident Senior Fellow at the Global Development Policy Center (Boston University), and a Research Scholar of the Global Institute for Sustainable Prosperity. 

Yan specializes in the Modern Monetary Theory (MMT), the Political Economy of China, Economic Development, and International Economics. Yan's current research focuses on China's development finance and industrial transformation, and China's role in the global financial architecture. 

@YanLian31677392 on X