BRICS Currency Initiatives and the U.S. Dollar: Shaping a New Global Financial Order
Relevance to UPSC Syllabus GS Paper 2: International Relations – Role of global groupings like BRICS in influencing global economic order. GS Paper 3: Economic Developments – Monetary systems, trade systems, and their global implications. Introduction Recent Developments: At the 16th BRICS Summit (October 2024), member nations deliberated on increasing local currency trade or creating a…