As more countries join the BRICS economic bloc, there will be a significant increase in settlements using national currencies, leading to an acceleration in the de-dollarization process, a Chinese expert says. “For most developing countries, development is a top priority. That is why the BRICS cooperation mechanism is attractive to these countries,” he added. BRICS and De-Dollarization Sun Qi, executive director of the Center for Russian and Central Asian Studies at the Shanghai Academy of Social Sciences, told Russian news outlet Tass Friday that more countries joining the BRICS economic bloc will increase the use of national currencies in settlements significantly, which will help accelerate de-dollarization. The BRICS nations comprise Brazil, Russia, India, China, and South Africa. He was quoted as saying: As more and more countries join the ranks of BRICS + partners, the transition to settlements in local currency or third-party currencies in mutual trade will increase signifi
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