Seeds of Wisdom RV and Economic Updates Thursday Evening 12-05-24
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BRICS NEWS: BRICS: WHY TRUMP’S 100% TARIFF PLAY MAY FURTHER DE-DOLLARIZATION
With the president-elect targeting the BRICS bloc specifically, Donald Trump’s proposed 100% tariff plan may only further global de-dollarization efforts. The statement has been met with increased opposition from countries in the global south. Moreover, it represents another clear attempt at the West weaponizing the greenback.
If enacted, the tariff could be the catalyst for inciting continued efforts to abandon the US dollar on a global scale. Although BRICS nations have previously said that they would not seek to ditch the currency, Trump’s policies could drive a necessary recalculation of what would be best for these countries.
Trump’s 100% Tariff Could Mirror Sanctions, Drive Global De-Dollarization
Following his historic victory in the 2024 presidential election, the US dollar has remained a focus for Donald Trump’s incoming administration. Specifically, he has continually said that losing the greenback as the world’s currency would be akin to the country “losing a war.” Therefore, its position in global finances remains a focal point.
That led the incoming president to issue a stark warning to BRICS nations. “The idea that the BRICS are trying to move away from the dollar while we stand by and watch is OVER,” he said in a Truth Social post.
“We require commitment from these countries that they will neither create a new BRCIS currency to replace the mighty US dollar, or they will face 100% tariffs and should expect to say goodbye to selling into the wonderful US economy,” he added.
Yet, his recent statement only reinforced the reasons why nations are stepping away from trading in the currency. For BRICS and many others, Trump’s 100% tariff plan may only further de-dollarization. It once again shows that the United States wants to leverage its perceived power for its own economic gains and standing.
The imposition of Western sanctions drove Russia to initiate de-dollarization efforts through its BRICS alliance. The weaponization of the greenback saw the bloc further enhance trade deals. Ultimately, leading to the promotion of local currency trade.
That will only enhance under Trump’s tariff plan. Moreover, it will harm American industries. The current efforts to ditch the US dollar wouldn’t have the same effect on imports that the incoming presidents would. In the end, he may well be shooting his incoming administration in the foot.
@ Newshounds News™
Source: WATCHER GURU
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ASIA-PACIFIC (APAC) CRYPTO ADOPTION 2024: KEY TRENDS AND INSIGHTS TO KNOW
▪️The Asia-Pacific region has seen a surge in cryptocurrency adoption, far outpacing the global average.
▪️APAC's crypto adoption is driven by real-world use cases and cultural acceptance, rather than just financial speculation.
▪️Countries with better regulatory frameworks are witnessing higher adoption rates and increased institutional interest.
The Asia-Pacific (APAC) region is undergoing a major shift in how people use cryptocurrencies. From financial centers like Hong Kong and Singapore to growing markets in Southeast Asia, digital assets are becoming more mainstream. In APAC, crypto isn’t just a way to make money—it’s becoming part of daily life, driven by people and culture, not just technology.
Crypto Adoption Soars Across APAC
A recent report by Consensus, titled “Driven By Demand: The People-Powered Crypto Movement in Asia Pacific,” shows that crypto adoption in APAC has reached 22% in 2024—nearly three times the global average of 7.8%.
Thailand leads the way with a remarkable 43% adoption rate, followed by the UAE (37%), India (32%), and the Philippines (31%). Countries like South Korea (28%) and Hong Kong (24%) are also making progress, while Japan (12%) and Mainland China (17%) are lagging behind.
A Tool for Financial Inclusion
The survey, which included nearly 4,300 participants from ten APAC countries, reveals that more than half of respondents (51%) see digital assets as a key to financial inclusion. Additionally, 37% believe crypto gives them more control over their finances without relying on banks.
This shows that, in APAC, crypto isn’t just about making a profit—it’s a practical tool for everyday use and fits well with the region’s culture.
Crypto’s Everyday Value
Over the past year, the attitude toward cryptocurrencies in APAC has shifted significantly. With fewer scandals and more local activity, trust in the industry has grown. Unlike in some Western regions, where distrust of traditional banks drives crypto adoption, APAC users focus more on crypto’s practical benefits for daily life.
Interestingly, only 18% of people surveyed said they distrust banks. This suggests that in APAC, crypto is seen as a solution to real-world problems, not just a reaction to traditional financial systems.
Race to Become a Crypto Hub
The report also finds that 69% of respondents believe clear regulations are important to protect crypto users. However, the report suggests that regulation alone isn’t what’s driving adoption—it supports the strong demand already present in the market.
Countries with higher adoption rates, like Thailand and the UAE, benefit from clearer regulations, which help the crypto ecosystem grow.
APAC Leading the Global Crypto Charge
Michael Lau, Chairman of Consensus Hong Kong, pointed out that APAC is setting the pace for the global crypto market. He highlighted how recent Bitcoin and Ethereum ETF approvals, along with more institutional investments, are positioning APAC as a leader in creating a more connected global financial future.
With its mix of cultural acceptance, practical use, and evolving regulations, APAC is not only shaping the future of cryptocurrency—it’s influencing the global financial system.
This people-driven movement proves that when demand meets innovation, real change happens.
@ Newshounds News™
Source: Coinpedia
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ISO 20022: The Future of Finance, Explained | Youtube
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@ Newshounds News™
Source: Seeds of Wisdom Team RV Currency Facts
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