BRICS Alliance Expands, Aims to Reduce Dollar Dominance
-
Speaking on BRICS' de-dollarization plans, former White House economist Joe Sullivan says the alliance is readying an “economic wrecking ball” for the US dollar.
-
BRICS expansion plan announced at 2023 annual summit now includes 5 nations.
-
Sullivan states BRICS developing currency could continue to wreak havoc on the greenback’s declining prevalence.
-
United States allies Saudi Arabia and United Arab Emirates (UAE) have joined BRICS bloc and can now lessen dollar holdings.
-
If BRICS+ demanded payment in national currencies to trade with them, dollar's role in world economy would decline without a clear replacement.