BRICS isn’t killing the dollar. The world is learning to live without it (opens the source in a new tab)
- BRICS, now 11 members, wants partners to settle trade in their own currencies.
- India–Russia oil deals use roubles and rupees; China pushes the renminbi.
- The writers see the real US risk in slowing foreign demand for its debt.
- 70%→50%
- Norway fund’s proposed bond share
- ~$80bn
- less dollar-bond exposure
Why it matters The risk is an end to cheap US borrowing.
Other side Oil is still priced in dollars, and shifts like this take decades.