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US President-elect Trump has threatened 100% tariffs on BRICS nations to protect the US dollar's dominance. BRICS nations are exploring alternatives to the US dollar amid de-dollarization talks.
Dedollarisation refers to countries reducing reliance on the U.S. dollar as a reserve currency, medium of exchange or as a unit of account. [1] It also entails the creation of an alternative global financial and technological system in order to gain more economic independence by circumventing the dependence on the Western World-controlled systems, such as SWIFT financial transfers network for ...
The new BRICS basket-based currency would challenge the US dollar-dominated IMF's basket and allow Russia to widen its sphere of influence.
Russia is seeking to convince BRICS countries to build an alternative platform for international payments that would be immune to Western sanctions when it hosts the group's leaders at a summit ...
The Triffin dilemma (sometimes the Triffin paradox) is the conflict of economic interests that arises between short-term domestic and long-term international objectives for countries whose currencies serve as global reserve currencies.
The dollar’s dominance in global trade and capital flow dates back at least 80 years — not just because the U.S. is the world’s largest economy, but also because oil and other essential ...
The US dollar continues to underpin the world economy and is the key currency for medium of international exchange, unit of account (e.g. pricing of oil), and unit of storage (e.g. treasury bills and bonds) and, despite arguments to the contrary, is not in a state of hegemonic decline (cf. Fields & Vernengo, 2011, 2012).
The U.S. dollar saw a 9% decline in its share of global reserves in 2023, causing many to question since then whether the dollar’s days of dominance are over. This shift underscores a gradual ...