USA No Longer Default Market: BRICS Attracts Global Capital
The USA no longer seems to be the de facto global capital for investments as BRICS is grabbing a bigger pie of the financial share. Global investors are being defensive on the US dollar’s prospects as the DXY index fell to the 96 range early Thursday. Exposure to the US dollar-based assets has been its lowest since 2005, a recent report from the Bank of America read. BRICS members such as China, India, Brazil, and South Africa are receiving foreign funds from institutional clients, which were the de facto investments in the USA. The goalpost is being moved to the global south where developing countries are reaping the benefits of a weaker dollar. The focus on the Southeast region came after Trump imposed sweeping tariffs on trade this year. Also Read: BRICS Inspires 15 Countries To Use Homegrown Payment System USA Remains Market King But BRICS Aims To Dim the Power Source: fairobserver.com / Vladirina32 / ShutterStock The dollar is still the most potent currency but its power is g...