What De-Dollarization? US Dollar Bulldozes BRICS Currencies
The BRICS alliance kick-started the de-dollarization agenda to pull the US dollar down from the global reserve status and replace it with local currencies. China and Russia were on a world tour convincing developing countries to use local currencies for trade and not the US dollar. They found success in it as several developing countries are considering the de-dollarization initiative to strengthen their local currencies. Also Read: Wages in the US Rise 7%, Home Prices Skyrocket 45% The US pressing sanctions on developing nations is another reason why they find the de-dollarization agenda lucrative. Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade. Also Read: BRICS To Announce Membership of New Countries in 2024 De-Dollarization Faces Challenges: US Dollar Outshines All BRICS Currencies Source: Cryptopolitian.com The de-dollarization initiative has fallen flat as the...