BRICS Ditches US dollar: Who Else have Followed BRICS?
BRICS Ditches US dollar: Who Else have Followed BRICS?
Fastpo: 4-17-2024
Numerous countries are actively examining ways to decrease their dependence on the US dollar for international trade, a phenomenon commonly referred to as "de-dollarization."
This strategic shift is largely motivated by a desire to mitigate the vulnerabilities associated with geopolitical tensions and economic sanctions, thereby bolstering national financial autonomy from the US-dominated global financial system.
In this video, we will delve into how the BRICS nations are navigating this transition, as well as examine similar efforts by countries outside this group.
We aim to provide a comprehensive overview of the economic implications of moving away from the US dollar and explore the various mechanisms these countries are employing to facilitate trade using their local currencies.
This move reflects a growing trend towards reshaping global trade dynamics to foster greater economic resilience and independence.