BRICS strategy: Will the dollar in the region soon be history?

BRICS strategy: Will the dollar in the region soon be history?

China, Russia - The worldwide financial war picks up speed! A number of countries focus on throwing the US dollar overboard, inspired by the BRICS alliance. China, Russia and Iran are the driving forces behind this de-dollarization offensive. Your goal: Local currencies are supposed to displace the US dollar for cross-border transactions. This step - a potential club for the Greenback - could dramatically change the entire dynamics of supply and demand. The US government is struggling to influence this growing movement.

diversification is on the agenda! The central banks of BRICS and other developing countries convert their reserves, away from the dollar to a multi-currency portfolio that demands respect on the global parquet. "China as a business giant sets its footprint by expanding the power of its Yuan Global," says Cedric Chehab from Fitch Solutions to CNBC. This tightening of the screws could revolutionize the possibilities for exporters and importers, compensate for risks, optimize investment opportunities and make income more calculable. The former Brazilian ambassador in China, Marcos Caramuru, describes this currency change as a springboard to the next league of global trade. This development reports Watchuru as the world asks for the Power of the dollar will have.