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Russian President Vladimir Putin announced that Brazil, Russia, India, China, and South Africa plan to issue a new global reserve currency. The BRICS countries

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"Russian President Vladimir Putin announced that Brazil, Russia, India, China, and South Africa plan to issue a "new global reserve currency." The BRICS countries are exploring a possible movement of establishing a new currency to better serve their economics and interest and it will be based on a basket of the currencies of the five-nation bloc." (The Economics Times News, Oct 2022) Explain in diagram/flow format what are the continuous impact of above news from the perspective of economics. You must give at least TEN (10) points.

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