In his latest trade-related tirade, President-elect Donald Trump has set his sights on a group of emerging-market countries collectively known as the “BRICS.”

Why are countries trying to move away from the dollar? What has India done so far in this regard? And why is there a risk of Chinese domination if the dependence on the US dollar does go down?

The WSJ Dollar Index rises 0.6% as markets react to President-elect Trump's threat to slap 100% tariffs on Brazil, Russia, India, China and South Africa. He wants the BRICS countries to drop plans to create a common currency to compete with the dollar,