What Trump Said though Truth Social
The idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER. We require a commitment from these Countries that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty U.S. Dollar or, they will face 100% Tariffs, and should expect to say goodbye to selling into the wonderful U.S. Economy. They can go find another “sucker!” There is no chance that the BRICS will replace the U.S. Dollar in International Trade, and any Country that tries should wave goodbye to America.
BRICS Nations De-Dollarization Efforts
A Shift in Global Economy
The BRICS Nations – Brazil, Russia, India, China, and South Africa – are using their own currencies more often instead of the US dollar, which is a big change in the global economy, and they are doing this to protect themselves from economic issues and to have more control over their Economies.
Key Strategies of BRICS Nations for De-Dollarization
Domestic Currency Transactions: includes bilateral Trade & Currency swap between BRICS Nations.
Alternative Payment Systems: BRICS Nations focusing on developing Regional Payments System to reduce dependancy on the networks already dominated by the US Dollar.
Gold Standards & Reserves : BRICS Nations are trying to increase their Gold Reserves as a hedge against Economics Instability & Fluctuations.
What Implications it may cause to the Global Economy
As the BRICS countries reduce their dependence on the US dollar, it may create a big impact on the world economy, that we will see in near future, however, the same may lead to certain tariffs by US & Other countries, which may be further detrimental to the economy of the BRICS Nations. Further, less dependence on US Dollar will also help in reducing the US Influence, increasing financial stability of the BRICS Nations
Through, De-dollarization is not an easy task to achieve, the BRICS nations’ continuous efforts signal a potential shift in global finance. These efforts can have a major impact on the world economy in future.
The recent development of 100% tariff threat is due to the dedollarisation efforts being made by the BRICS Nations since long.
