BRICS panic: Will the dollar be replaced in the global economy?

BRICS panic: Will the dollar be replaced in the global economy?

Red alert for the dollar! More and more countries are thinking outside the box and planning to abandon the US dollar in international trade. A movement that could really shake up the forces in the global financial market, as demand for the green banknote could plummet. as watcher.guru says. Developing countries in particular are showing interest in using their local currencies in cross-border transactions to reduce economic dependence on the United States. If the trend continues, prices for everyday essentials in the Stars and Stripes' homeland could skyrocket and the dollar falters in the face of global changes.

In this dramatic setting, Venezuela enters the stage. Foreign Minister Yvan Gil recently made headlines by announcing that 25% of trade could be conducted without the dollar. The magic formula? Local currencies and a solidarity between like-minded nations! Such a move could be another pillar of support for countries that want to feel free from sanctions and more financially independent. Although Venezuela wanted to join the BRICS alliance, the door remained closed for the time being. The upcoming BRICS conference in July, chaired by Brazil, could seal Venezuela's fate. But one thing is certain: the BRICS bloc is fueling new hope for emerging markets and causing the dollar to tremble, as explained in a report by watcher.guru.