The BRICS alliance has aimed to dethrone the US dollar from the international market and make local currencies dominate. Developing countries are steadily and organizedly seeking to break ties with the US dollar and strengthen their domestic economies by putting their local currencies forward. In this light and from the US side, the change in …
Tag: de-dollarization
The BRICS prepare a Central Bank and buy gold to support the common currency
China, backed by Russia and South Africa, is planning the final assault on the still-strong dollar by introducing a new currency, to be issued by a BRICS central bank that will combine the strengths of the respective currencies of the five largest economies join the group. At the same time, the replacement of the dollar …
The real picture of the US economy is bleak
The global financial system is gradually preparing for an earthquake of historic proportions which this time will not be caused by an internal crisis – like in 2008/2009 – but its cause is related to the significant shifts in the geopolitical power balances with the end of globalization under American hegemony. This is not something …
How is China taught to discard Western sanctions?
Russia’s success in dealing with Western sanctions through de-dollarization and supporting trading partners in Asia may be a valuable lesson for China as pressure to “de-risk” (the policy of the West to diversify supply chains so that it is not dependent on Chinese exports that shaped the so-called trend of de-globalization). Russia has provided many …
The number of countries replacing the dollar in their international transactions is increasing rapidly
De-dollarization is a historical process that seeks to end US hegemony in global trade and financial transactions by shifting to alternative methods of transactions, such as national currencies and regional payment systems. 1/3 of UN member states have already opted for de-dollarization and decided to rely on national currencies to make payments. Representatives of at …
The De-dollarization of the World Economy
In 1971, the US government, faced with stagnant inflation and a major global financial crisis, announced the US withdrawal from the Bretton Woods system of agreements, which meant that, in technical terms, all currencies became coin-to-currency currencies. to be regulated in the financial markets. Of course, the changes brought about by the abandonment of the …