Quote from: pooya87 on Today at 01:30:19 PM

Quote from: coupable on July 12, 2025, 04:28:14 PM

I can understand America's concerns about the expanding geography of brics, as this could create a global market parallel to the current global trade market. However, I see no reason to fear for the position of the $$$ in the global market as a whole. Even brics member countries, including China and Russia, cannot completely eliminate the use of the US dollar. Likewise, no BRICS country can impose its currency as an alternative to dollar transactions, as this would create a new reality with the same crises, in which we would simply replace the dollar with another currency. Furthermore, it does not look obvious that the brics countries are ready to issue a new unified currency for use in trade.

There can be a new currency called BRICS!
But you are forgetting that it is not about dollar losing its dominance, it is all about US regime not being able to dictate anything any more.

Is it really that easy to issue a new unified currency among member countries of a bloc that will always remain subject to change? Who (which entity) will issue the currency? On what basis will its value be determined? How will the negative effects of the new currency on the local currencies of brics members be addressed? The only bloc in history that has succeeded in issuing a unified currency is the EU, and we can see the negative consequences of this on European economies. It has also failed to reduce dependence on the dollar.

I know that none of these ambitious ideas will succeed in displacing the dollar, and I also know that the dollar is the key to American dominance. I do not believe that a new currency will be able to tip the scales. Let's not forget that brics countries themselves are stucked with the US dollar. For example, China, the largest holder of US bonds in the world, and those bonds are denominated in dollars, means a decline in the influence of the dollar, which as a result of the decline in the value of the dollar, has negative consequences for the brics countries themselves.