70GEOPOLITICS
⚡ Markets: Long-term structural headwind for US dollar dominance if concrete de-dollarization mechanisms are implemented. China's leadership in AI within the bloc could challenge US tech supremacy and create separate technology ecosystems.USDCNY
The BRICS summit in New Delhi ended with a declaration outlining further steps to reduce reliance on the US dollar in trade and finance. China's President Xi Jinping also took a leading role, proposing a joint BRICS AI development zone and community, positioning Beijing as the bloc's leader in the strategic technology.
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