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This is CBS on the world.

I'm John Beth.

Gordon Chang at Gordon-Chi Chang, my colleague and co-host.

And we are following a story that in Newsweek presents itself this way.

China has rebuked the United States for destabilizing global finance and leveraging the dollar's dominance as a geopolitical weapon, following

President-elect Donald Trump's threat to impose tariffs on BRICS nations pursuing

de-dollarization efforts, BRICS, all capital letters, Brazil, Russia, India, China, and South Africa. Gordon, this talk has been around for

some time in the bricks every time they meet now and again. The talk is emphasized by Russia and

especially by China. What do you make of it, Gordon? I make of it that basically Beijing and Moscow would like to dethrone the dollar as the

world's reserve currency.

They've got a few problems, though.

The RIMB, China's currency, is not convertible on the capital account and sometimes

is barely convertible on the current account.

...