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The Rise of BRICS: A Shift in Global Finance through Infrastructure Development

The global landscape of finance is undergoing a significant transformation, particularly in countries classified as part of the Global South. Nations within this group are beginning to establish their own financial and banking systems, increasingly relying on their own currencies, such as the dollar and Euro, to facilitate trade and fund major infrastructure projects. This shift can be predominantly attributed to China, which wields vast foreign exchange reserves and considerable trade surpluses with both the United States and Europe.