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Brics is slowly but surely chipping away at US dollar dominance

The United States’ use of its currency as a foreign policy tool has jolted much of the Global South. Sanctions, financial restrictions and US dominance over the Swift system have shown just how much the US dollar can be used as political leverage. For many emerging economies, the US is no longer their main trade and investment partner, yet its currency still underpins their transactions. This disconnect has imbued with fresh urgency the efforts of the Brics grouping to explore alternative...


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