De-dollarization could happen much quicker than most people think, Michael Goddard, president of the Netley Group, said at the St. Petersburg International Economic Forum (SPEIF).
SPIEF 2023 entered day two on Thursday, and the unique global economic and business event focused on de-dollarization – a buzzword of late among countries seeking to ditch the hegemony of the American greenback. The BRICS group of countries has been spearheading the movement. A common currency is one of the bold steps being mulled over among other tools that the bloc, which unites the world’s largest developing economies — Brazil, Russia, India, China, and South Africa, has at its disposal to escape the hegemony of the US-dominated economic order.