US EditionIndia, China and BRICS Move Away From US Dollar Amid Global Pressure
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4 Articles
End of Dollar Rule? India, China & BRICS Nations Shift Away from US Dollar
A quiet but important change is taking place in the global financial system as BRICS countries, including India and China, slowly reduce their dependence on the US dollar. For many years, the dollar has been the main currency used in international trade and held as a reserve by countries around the world. However, several economic and political factors are now pushing nations to look for other options. One major reason is the growing level of US…
India, China and BRICS move away from US dollar amid global pressure
A subtle but emerging change is taking place. India, China, and other BRICS countries are drifting away from the US dollar, and this is slowly pushing the global financial system towards a wider, multipolar platform. The US dollar has been the backbone of global trade, reserves, and commodities for several decades. However, the increasing pressure on its unassailable status is slowly becoming apparent. Economies in Asia, Africa, Latin America, a…
The BRICS are about to launch their own international payment system independent of Western channels. It would materialize this year, at the group’s summit in India, and would constitute a further blow to an increasingly weakened dollar, since the transfers will be made in national currencies of the bloc’s member countries.
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