BRICS Will Create a Tectonic Shift in World Order After Summit
The BRICS alliance has kick-started the de-dollarization initiative and a handful of countries are following suit. Countries from Asia, Africa, South America, and Eastern Europe are ready to ditch the U.S. dollar for cross-border transactions. Also Read: BRICS: India Convinces 22 Countries to Trade in Rupee, Ditch US Dollar Around 44 countries have expressed interest to join the BRICS bloc and trading in local currencies sidelining the U.S. dollar. BRICS could pave the way for the new world order if the majority of countries stop using the U.S. dollar for global trade. BRICS is an acronym for Brazil, Russia, India, China, and South Africa. The next summit will be held in Johannesburg on August 22 to 24. The bloc of five nations will discuss the usage of native currencies to bolster their respective local economies. Also Read: 13 Countries Officially Apply To Join BRICS Alliance BRICS Aim To Create A New World Order Source: Economictimes.com / Getty Images The ...