Trump comeback? Brics is defiantly - expert explains why!

Trump comeback? Brics is defiantly - expert explains why!

In a dramatic swivel in the global currency landscape, the Brics alliance is preparing to say goodbye to the US dollar-despite a possible comeback by Donald Trump in the US elections 2024. Even if the return of the former president is often considered a gamuchanger, many experts agree that even Trump's new direction of the Brics states cannot brake. Allianz, which includes Brazil, Russia, India, China and South Africa, has shown great interest in intensifying the trade in local currencies. What is behind it? Lower transaction costs and less dependence on foreign currencies seem to be the driving forces.

The Russian President Vladimir Putin recently indicated that the DEDOLLARITIONSTAGE of the BRICS had long since passed. But economist Lauren Johnston contradicts. In an insightful interview, she emphasized that political and economic reasons are moving the BRICs to continue to use local currencies. "It lowers the transaction costs and weakens the dependence of these countries on foreign currencies," said Johnston. She believes that the economic strengthening of the group will outdo any possible accommodation with a Trump administration.

turn to fate for the US dollar?

The western sanctions against Russia In the past two years, the BRICS countries have forced to explore alternative economic paths. Under pressure to leave a dollar-charged world order, the BRICS seem to be on the right track of solving the supremacy of the US currency. Despite Trump's emphasized importance of "greenback", a change of direction in the United States is extremely unlikely to seriously impair the strategic considerations of the BRICS.

in discussion is also a common payment system for the BRICS group. Although progress has so far left a lot to be desired, a successful implementation could bring the group to the global stage and further increase its economic relevance. For now, it remains foreseeable: Local currencies have a boom in the BRICS cosmos and that will probably stay that way.