Depoliticisation

Russia proposed creating a BRICS grain exchange that would serve as a new trading platform for the world’s largest producers and consumers of food grains. The measure could help depoliticize global markets and eliminate intermediaries in the form of Western exchanges, according to experts consulted by Sputnik. The dominance of the United States in the world economy did not start with the dollar. After the Second World War, the US became the leading supplier of wheat and corn. As a result, the entire modern infrastructure of the global grain market has been shaped by Washington. Thus, the benchmarks are made by the Chicago Mercantile Exchange (CME), and the US dollar is primarily used as the settlement currency.