BRICS Ditches Dollar as Trade Shift Gains Momentum

The BRICS group is shifting away from using the US dollar in its transactions. The Chinese renminbi has not yet replaced it as a global leader, but within the BRICS group, the US currency's importance is decreasing.

According to Marcel Grzanna and Arne Schütte, the decline of the US dollar in the BRICS group is a significant development. The exact impact of this shift on global trade remains unclear, but it could have far-reaching consequences.