Right, and this is why dedollarization is taking off like wildfire. Nobody wants to use US financial system, but until recently it's been the only game in town. Now that people see it's possible to bypass it, there's a lot of momentum to create an alternative trading system. I imagine the fact that members can't sanction one another is what makes BRICS in particular so appealing.
Right, and this is why dedollarization is taking off like wildfire. Nobody wants to use US financial system, but until recently it's been the only game in town. Now that people see it's possible to bypass it, there's a lot of momentum to create an alternative trading system. I imagine the fact that members can't sanction one another is what makes BRICS in particular so appealing.