The move to create an alternative to SWIFT might be slow but it's gradually gaining momentum. BRICS Pay is a payment platform used by member nations for financial transactions without using SWIFT. Since 2023 Brazil and China have eliminated the use of dollars for trade. Rather, trade deals are settled with local currencies. China and India also have agreements to adopt local currencies in their trade deals. Other countries are also adopting the same strategy to bypass the Western-controlled payment system.
That will not be easy at all. It is going to take years. And I said this before, I am saying it again, if they ever go towards "one currency" route, they will be fucked, they are not going to get any better.
Because Euro zone did that with a currency of Euro, and in return, many nations got hurt because of it. I am telling you, this BRICS thing is very tough to do, but they were also forced to do, because west basically removed these nations from participating, so they are building their own, there isn't a mistake there, they should be doing it. I bet that they are going to get a great result from all of this. It's not going to be easy, it's going to be incredibly difficult, but we are going to get a great result one way or another.