Can BRICS De-dollarize the Global Financial System?

Existing Scholarship Has Not Systematically Examined Brics (Brazil-Russia-India-China-South Africa) As A Rising Power De-Dollarization Coalition Despite The Group Developing Multiple De-Dollarization Initiatives To Reduce Currency Risk And Bypass Us Sanctions. To Fill This Gap This Study Develops A ''Pathways To De-Dollarization'' Framework And Applies It To Analyze The Institutional And Market Mechanisms That Brics Countries Have Created At The Brics Sub-Brics And Brics Plus Levels. This Framework Identifies The Leaders And Followers Of The Brics De-Dollarization Coalition Assesses Its Robustness And Discerns How Brics Mobilizes Other Stakeholders. The Authors Employ Process Tracing Content Analysis Semi-Structured Interviews Archival Research And Statistical Analysis Of Quantitative Market Data To Analyze Brics Activities During 2009-2021. They Find That Brics'' Coalitional De-Dollarization Initiatives Have Established Critical Infrastructure For A Prospective Alternative Nondollar Global Financial System. This Title Is Also Available As Open Access On Cambridge Core.