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Dedollarization: The BRICS Are Completely Changing Course

As geopolitical rivalries flare up, dedollarization reemerges as a lever of monetary sovereignty. For a long time, the BRICS have been at the forefront of this ambition, seemingly seeking to challenge the economic order dominated by Washington. However, a strategic repositioning by Brazil, an influential member of the bloc, disrupts this trajectory. By dismissing the idea of a common currency, the country reshuffles the cards of an already fragile project, revealing the limits of monetary coordination in the face of the reality of economic power dynamics.