The US Dollar's Clout Is Decreasing Globally, Says BRICS
BRICS member Russia has commented on the recent 100% tariff threats issued by President-elect Donald Trump for cutting ties with the US dollar. Russian President Vladimir Putin spoke about the threats by poking fun at the American economy and its dwindling power. The clout that the US carried a few decades ago is no longer in existence as developing countries have come far ahead in steering their economy to prosperity. Also Read: BRICS: Global US Dollar Payments Fall Below 50% While their economy is becoming prosperous, BRICS is focusing on boosting their local currency and not the US dollar. The bloc is determined to use local currencies first and keep the US dollar in the backseat of the global economy. Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade. Also Read: Top Economist Predicts the Future of BRICS Currency BRICS: The U.S. Dollar’s Global Influence Is Decreasing Source: Wallpaperflare BRICS leader and Russian President Pu...