Currency Choice under the Shadow of Dollar Hegemony: A Comparative Analysis of BRICS Bridge and the Euro in International Political Economy
Keywords:
Brics Bridge, De-Dollarization, Euro, Institutional Competition, Monetary HegemonyAbstract
This study examines the strategic and institutional dimensions of currency choice under U.S. dollar hegemony. It contrasts the Euro’s stable but dollar-bound system with BRICS Bridge’s decentralized, de-dollarized clearing approach. While the Euro offers institutional coherence, it remains structurally tied to the dollar-based system. BRICS Bridge promotes sovereign inclusivity but faces challenges in consolidation due to member asymmetries. The analysis shows that global currency competition is increasingly shaped by power, sovereignty, and governance struggles. The paper calls for enhanced multilateral coordination and cross-system clearing solutions.
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