Post
Topic
Board Economics
Re: Could there be a new financial system not dependent on USD?
by
justdimin
on 15/04/2023, 10:10:46 UTC
The dominance of the US dollar will not be reduced by the existence of the BRICS, an alliance of countries that are members of the global trade plan are only included in the category of a few countries. Dependence on the US dollar is also very difficult for other countries to cancel cooperation with the United States, on the other hand there are special agreements that are regulated when carrying out cooperation.

Everything can happen beyond the predictions or observations made by experts, but as far as I know the strength of the United States in building cooperation with other countries in the field of global trade is very difficult to break, they really control several important sectors now and decades of their dominance no one has been able to match. The strength of the countries that are members of the BRICS will also determine how far this project can go, while in it we see that only Russia and China have the capability, while the economic strength of countries that have the possibility to join is unclear.
This is the "dream" of BRICS nations, but the reality is very different. They are rich because of their resources, it can be gas, it can be oil, it can be even humans, it can be whatever that is cheap for them and make a lot of money for others.

However, if you talk about the big nations like America, then dollar is strong because of what they do with those resources, if you have oil that's great, they put that oil into planes and make multiple times people fly, or they put it on jet fighters and attack another nation, or they put it on cars and drive to work at google or apple that everyone uses. So, all in all it is not about what you have, but what you can make with what you have and those big nations are great at that which will not stop.