BRICS members China and Russia are pulling the strings to free the world from the clutches of the US dollar. Chinese President Xi Jinping said in a press meeting recently that the “United States days of bullying the world are coming to an end”. There could be merit to the statement as BRICS successfully convinced other developing countries to ditch the US dollar. The alliance is making developing countries trade in local currencies and strengthen their native economies.
Also Read: BRICS: Top Economist Says U.S. Dollar is ‘Getting Worse’
Read here to know how many sectors in the US will be impacted if BRICS ditches the dollar for trade. The US dollar is facing competition from all sides as developing nations are looking to uproot it from the world’s reserve status. The goal is to put local currencies in the forefront for cross-border transactions and push…
