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>>> A BRICS Currency Could Shake the Dollar’s Dominance

De-dollarization’s moment might finally be here.


Foreign Policy (Carnegie Endowment for Intl Peace)

By Joseph W. Sullivan, a senior advisor at the Lindsey Group and a former special advisor and staff economist at the White House Council of Economic Advisers during the Trump administration.

APRIL 24, 2023


https://foreignpolicy.com/2023/04/24/brics-currency-end-dollar-dominance-united-states-russia-china/


Talk of de-dollarization is in the air. Last month, in New Delhi, Alexander Babakov, deputy chairman of Russia’s State Duma, said that Russia is now spearheading the development of a new currency. It is to be used for cross-border trade by the BRICS nations: Brazil, Russia, India, China, and South Africa. Weeks later, in Beijing, Brazil’s president, Luiz Inàcio Lula da Silva, chimed in. “Every night,” he said, he asks himself “why all countries have to base their trade on the dollar...”

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