It’s a self reinforcing phenomenon. The more countries free themselves of the dollar, the easier it becomes other countries to do so going forward. Now that BRICS is a bigger economy than the G7, the economic incentives favor it for countries that are forced t chose between these economic blocs.
the pace of dedollarisation recently is making me extremely hopeful
It’s a self reinforcing phenomenon. The more countries free themselves of the dollar, the easier it becomes other countries to do so going forward. Now that BRICS is a bigger economy than the G7, the economic incentives favor it for countries that are forced t chose between these economic blocs.