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BRICS sounds the alarm: Is the dollar at risk in its US homeland?
China is pushing ahead with de-dollarization, but a report shows that the US itself is the biggest threat to the dollar.
BRICS sounds the alarm: Is the dollar at risk in its US homeland?
The race for global currency supremacy is about to take a dramatic turn! As the BRICS alliance attempts to topple the US dollar from its perch as the world's reserve currency, its attempts to advance de-dollarization remain unsuccessful. The dominance of the greenback remains unbroken - an impressive 58% of global reserves are in the US dollar. An abrupt break with this currency could have fatal consequences for emerging economies, as watcher.guru reports.
Rather, it is not the BRICS alliance, but the USA itself that poses the greatest threat to its own dollar! An explosive Bloomberg report reveals that American reliability, not threats from Trump, is the key to the USD's power. Excessive behavior – whether through sanctions, interventions in the Federal Reserve or unilateral tariffs – could harm the dollar more than any BRICS strategy. The USA must fulfill its role as a reliable economic actor in order to retain monetary power.
China is also playing a significant role in this geopolitical drama, bringing the yuan into play as a trading currency and pushing for dedollarization with some countries suffering from US sanctions. But the real challenge lies in whether the US manages to protect its “exorbitant privilege” by not gambling with the global economy.