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BRICS de-dollarization push gaining momentum Part3 #shorts #motivation #india
· 14.05.2023 · 16:35:57 ··· Sonntag ⭐ 0 🎬 0
📺 Motivation & Finance
BRICS de-dollarization push gaining momentum
Hello and welcome to "MOTIVATION & FINANCE". Today, we'll be discussing the topic of de-dollarization and how it's gaining momentum among the BRICS countries.
BRICS stands for Brazil, Russia, India, China, and South Africa -
a group of emerging economies that are increasingly becoming a force to be reckoned with in the global economy.
These countries have been pushing for a shift away from the US dollar as the dominant currency in international trade and finance.
The BRICS countries have been working on establishing their own financial infrastructure and systems that would allow them to trade with each other using their own currencies, rather than relying on the US dollar.
This move has gained momentum in recent years, as the countries seek to reduce their dependence on the US and its policies.
One of the key reasons for this push towards de-dollarization is the increasing tension between the US and other countries over economic and political issues.
As the US imposes more sanctions on countries around the world, countries are looking for ways to protect themselves from the impact of these sanctions.
By reducing their reliance on the US dollar, the BRICS countries are hoping to insulate themselves from the effects of US policies.
Another factor driving the de-dollarization push is the desire to promote their own currencies on the global stage.
By establishing their own financial systems, the BRICS countries can promote the use of their own currencies in international trade and finance, which could help increase their influence in the global economy.
However, the shift away from the US dollar is not without its challenges.
The US dollar has long been the dominant currency in international trade and finance, and many countries and companies are still heavily reliant on it.
In addition, there are concerns about the stability and liquidity of some of the BRICS currencies, which could make them less attractive to investors and traders.
Despite these challenges, the BRICS countries are continuing to push forward with their de-dollarization efforts.
As the global economy becomes more multipolar, it's likely that we'll see more countries seeking to reduce their reliance on the US dollar and promote their own currencies.
This could have significant implications for the global financial system and the balance of power in the global economy.
Thank you for watching this episode of "MOTIVATION & FINANCE". Don't forget to like and subscribe for more videos on finance and economics.
· 14.05.2023 · 16:35:57 ··· Sonntag
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