The Dollar's Uncertain Future: What BRICS Leaders Meeting in India Means for Global Trade The upcoming meeting of BRICS leaders in India has drawn significant attention as some view it as a potential threat to US dominance and others see it as an effort to promote economic cooperation among emerging economies.
The convergence of Xi Jinping, Vladimir Putin, and Narendra Modi on New Delhi marks a complex moment in the relationships between these nations and their increasing reliance on alternative channels for trade and payments.
The BRICS decision to discuss increasing trade in local currencies and developing alternative cross border payment mechanisms is a direct response to the economic pressure exerted by the US under Donald Trump's presidency.