US President-elect Donald Trump has threatened retaliation against governments that challenge the US dollar, vowing "100 percent tariffs" on countries that undercut the US currency.The system has evolved since that time and several countries have stopped indexing their currencies to the dollar,

U.S. President-elect Donald Trump on Saturday demanded that BRICS member countries commit to not creating a new currency or supporting another currency that would replace the United States dollar or face 100% tariffs.

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?