BRICS: How China's advance is shaking the dollar!

BRICS: How China's advance is shaking the dollar!

Forget the dollar – BRICS is pushing for its own currencies! A group of emerging markets, inspired by the BRICS alliance, says bye-bye to the US dollar for cross-border business. Countries like China, Russia and Iran are paving the way to “de-dollarization” by emphasizing domestic currencies. This move puts a lot of pressure on the greenback, which could affect its demand and supply in the world. No wonder the White House is sweating and panic is breaking out. Provides a comprehensive overview of the situation the report on watcher.guru.

The BRICS central banks and other emerging countries are getting involved and are expanding their reserves away from the dollar! Expert Cedric Chehab from Fitch Solutions sees this as an opportunity to reduce the pressure on external sectors. And as China continues to explode economically, it is setting the stage for the rapid spread of the de-dollarization agenda. Marcos Caramuru, the former Brazilian ambassador to China, said countries could better balance risks in local currency transactions. More details on this topic can be found in a detailed report on watcher.guru.