BRICS countries: Farewell to the US dollar – new era for world trade?

BRICS countries: Farewell to the US dollar – new era for world trade?

The global economy is shaking as a new power movement is gaining tremendous momentum! BRICS states such as China, Russia and Iran are getting serious and want to say goodbye to the US dollar for good. We're talking about so-called de-dollarization - and that's becoming a real challenge for the White House. as watcher.guru reports. In the future, local currencies will have the say in cross-border transactions and thus overtake the dollar.

Central banks in these emerging countries have already begun diversifying their reserves into a basket of multiple currencies, including gold. Cedric Chehab of Fitch Solutions explains that this strategy could ease pressure on foreign trade sectors. China in particular, with its growing influence, is setting the tone for this economic revolution. This not only means less dependence on the dollar, but also a rise in the global value chain for the BRICS countries.

Ex-diplomat Marcos Caramuru from Brazil emphasizes: Trading in local currencies not only offers exporters and importers a balance of risk, but also more investment options and certainty in income and sales. Suddenly the balance on the international financial markets is being put to the test, as the dollar could lose its status symbol if de-dollarization gains further momentum.