US dollar: ‘Wounded hegemon’ or secure as most powerful currency on earth?
AI Summary
The article discusses the growing movement to reduce reliance on the US dollar in international trade, particularly among BRICS nations. In late November 2025, South Africa integrated into China's Cross-Border Interbank Payment System (CIPS), enabling direct renminbi payments between African businesses and China. This move, along with similar actions by Brazil and other countries, aims to bypass the dollar in bilateral trade. Countries like India, the UAE, Russia, Argentina, Iraq, and Saudi Arabia are also increasingly using local currencies in trade with each other and China. This trend is partly driven by a desire to circumvent Western sanctions and reduce dependence on the US dollar, which has been the dominant global reserve currency since World War II.
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This article was automatically classified using rule-based analysis. The political bias score ranges from -1 (far left) to +1 (far right).
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