Dollar Dominance: How America Profits and BRICS Fights Back

The US dollar's dominance in global trade has allowed America to earn billions of dollars with minimal effort. According to recent data, an astonishing 80% of the world's trade is conducted in US dollars.

This significant advantage for the US was a key topic at the Delhi summit, where BRICS countries discussed strategies to reduce their reliance on the dollar and promote payments in local currencies among themselves.

BRICS nations aim to challenge the dominance of the dollar through de-dollarisation, which seeks to minimize the use of the dollar in international trade. However, it remains unclear whether they can successfully overcome the dollar's entrenched position in global finance.