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.”

Donald Trump’s fresh pressure on countries around the world to stay anchored to a US-dollar-based financial system is a tactic that risks backfiring, market watchers say.

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?