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28min chapter
How can BRICS de-dollarize the financial system?
Geopolitical Economy Report
De-Dollarization and BRICS: Rethinking Global Finance
This chapter examines the potential role of Special Drawing Rights (SDRs) in the de-dollarization efforts led by BRICS nations. It addresses the historical limitations of SDRs, the challenges of transitioning from dollar dominance, and proposals for utilizing alternative commodities and local currencies. The discussion also emphasizes the need for reform in global financial institutions and the diverse monetary practices across BRICS countries to promote economic stability.
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