Emerging economies are pushing to end the dollar's dominance. But what's the alternative?
Emerging market countries, led by BRICS bloc of Brazil, Russia, India, China and South Africa, are seeking alternatives to the US dollar due to its dominance of the global financial system and its adverse impact on their economies. However, dethroning the US dollar would require a concrete proposal, which has not been forthcoming in the run-up to the BRICS summit starting Tuesday in Johannesburg, South Africa.
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