The beginning of the end of US dollar hegemony
8 min readIf a common reserve currency, be it the Chinese yuan or Indian rupee will be announced at the forthcoming BRICS summit in South Africa in August 2023, it will undoubtedly remove the US dollar from the throne of the international economy.
In the face of Washington's hegemony of the IMF as well as the Biden administration’s “weaponization” of the dollar, two-thirds of trade between China and Russia is denominated in yuan and ruble.
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