INSUBCONTINENT EXCLUSIVE:
Dilma Rousseff, president of the BRICS Bank, criticized the United States for using the dollar as a geopolitical tool and causing the
of hindering the growth of emerging economies by pursuing containment policies, targeting Japan in the past and now focusing on
China.However, she admitted that containing China like Japan would be challenging.Rousseff, a former president of Brazil, highlighted the
(Photo Internet reproduction)She expressed concerns about the asymmetric financial system resulting from a single international reserve
currency and advocated for a more diverse monetary system that includes emerging economies.While criticizing the dollar, Rousseff did not
expect another currency to replace it as a global hegemon.Instead, she envisioned a more diversified and multipolar global monetary system
driven by the increasing participation of emerging economies in global trade and capital markets.The Chinese yuan has gained prominence in
international negotiations, as with Argentina agreeing to pay part of its debt to the IMF in Chinese currency.Indian refineries have also
been allowed to pay for Russian oil imports in yuan.The Brazilian government supports using a common reference currency within the Mercosur
measure will reduce costs and promote convergence while retaining national currencies.Overall, Rousseff emphasized the importance of a
balanced and inclusive global monetary system, advocating for diversification and using alternative currencies in international
