BRICS Intra-bank System Shocked the World Bank: Is It the End of Dollar?

The BRICS nations (Brazil, Russia, India, China, and South Africa) are making bold moves to challenge the dominance of the US dollar in the global economy. They've launched initiatives like the BRICS intra-bank settlement system and are promoting the use of national currencies in trade. The BRICS are also creating alternative financial institutions, such as the New Development Bank, and are pushing for greater representation in global economic decision-making bodies.
These efforts aim to create a more balanced and equitable global economic order that better serves the interests of developing nations. While this transition may bring some uncertainty, particularly for Western countries, it has the potential to lead to greater economic stability, reduced inequality, and more effective solutions to global challenges in the long run.
The rise of the BRICS represents a significant shift in the world economy that could have far-reaching implications for people around the globe. From investment strategies to career opportunities, the increasing economic power of the BRICS is likely to reshape the global landscape in the coming years. As these emerging economies continue to grow and assert their influence, it will be crucial for individuals and nations alike to adapt to this new reality and seize the opportunities it presents.

[@choosiewhoo1700]

Yes. may be slowly end the dollar. ❓❓

[@johnprather1571]

I want some BRICS. Currency just in. case it takes over then people in the u s will have some

[@danfarrand9072]

Most or all of the BRICS countries are in it for what advantages they can extract from Russia. They may in fact support the goals but all of these countries, perhaps excepting China, view everything in the short term. The believe that by standing in the middle they can extract concessions from both Russia and the US.
If Russia really wanted to shake things up, they would simply reset Roubles as a gold backed currency. Going it on their own while participating in the SWIFT replacement projects. The Central Bankers in Russia were mostly trained in the West and so have a blind spot when it comes to Gold. There also may be a feeling in the Russian state, that during a time of war they want to be able to depreciate their currency.