Executive Summary Introduction Trump’s tariffs were intended to reduce U.S. dependence on strategic competitors and redirect trade flows back toward the United States. In practice, they have also encouraged many emerging economies to diversify their economic relationships. As tariffs increase the cost and uncertainty of relying on U.S. markets, countries have expanded trade with alternative … Continue reading
Tag Archives: BRICS
BRICS and Currency Diversification Challenge the Dollar
Executive Summary Introduction Since the inception of global trade, there has always been a dominant, trusted currency used to facilitate transactions between parties to avoid the double coincidence of wants associated with bartering. The U.S. dollar (USD) has been the premiere global currency since the Bretton Woods Agreement of 1944 where it was crowned in … Continue reading
“De-Dollarization”: BRICS Countries Propose New Currency
Executive Summary Introduction A top Russian official stated at the St. Petersburg International Economic Forum in March that Russia and India are working together on a central digital bank currency (CDBC), with the assistance of other BRICS nations (Brazil, Russia, India, China, and South Africa). State Duma Deputy Chairman Alexander Babakov stated that the currency … Continue reading
Policy Interns 