"Emerging Economies Seek Dollar's Replacement: Exploring Alternatives"

Emerging economies, including the BRICS bloc, are expressing dissatisfaction with the dominance of the US dollar in the global financial system. However, finding a viable alternative to the dollar has proven challenging. While discussions have taken place about expanding trade in local currencies, concrete proposals have yet to emerge. The dollar remains the most-used currency in global business, accounting for a significant majority of trade invoicing. The euro and China's yuan have made some inroads, but they still fall short of challenging the dollar's dominance. The path to a new currency and a major upheaval in the global financial system is seen as long and requiring trust.