Post
Topic
Board Economics
Re: Could there be a new financial system not dependent on USD?
by
ancafe
on 15/04/2023, 16:04:28 UTC
-Snip- Do you feel how subtly China "broke the fools"? Smiley
Instead they try to fool people who are already stupid. Let's look at one case in the field of trade in Chinese products. What do they offer consumers? nothing more than cheap goods that do not have the quality to be used in the long term and what is their background wanting to leave the US dollar and trying to influence other countries to join them, of course we already know the answer, although we are not trying to find out.

There are many irregularities about the BRICS and as far as I know it will not be able to destroy the dominance of the US Dollar, because global trade agreements with the United States are bound by regulations and not by nonsense.

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.
All countries must have dreams of mastering natural resources in other countries by creating a new binding system, for example creating a new currency for global trade as the BRICS union has done. The next question is to what extent their power can affect many countries, while the dominance of the US dollar has lasted decades?

The quality of products created by America has advantages in the long run and this is only talking about one sector, not to mention the US dollar's strength, which is why they are very strong in maintaining dominance. The unions established by the countries that joined the BRICS are legitimate and not against world rules, but I am not very optimistic about the projects they develop.