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US President-elect Trump has threatened 100% tariffs on BRICS nations to protect the US dollar's dominance. BRICS nations are exploring alternatives to the US dollar amid de-dollarization talks.
Dedollarisation refers to countries reducing reliance on the U.S. dollar as a reserve currency, medium of exchange or as a unit of account. [1] It also entails the creation of an alternative global financial and technological system in order to gain more economic independence by circumventing the dependence on the Western World-controlled systems, such as SWIFT financial transfers network for ...
"The biggest challenge to US dollar dominance is the US itself given the mounting public debt levels and elevated fiscal deficits," JPMorgan said, in a note summarizing the webinar.
U.S. President-elect Donald Trump on Saturday demanded that BRICS member countries commit to not creating a new currency or supporting another currency that would replace the United States dollar ...
The Triffin dilemma (sometimes the Triffin paradox) is the conflict of economic interests that arises between short-term domestic and long-term international objectives for countries whose currencies serve as global reserve currencies.
The new BRICS basket-based currency would challenge the US dollar-dominated IMF's basket and allow Russia to widen its sphere of influence.
The Belarusian ruble is pegged to the euro, Russian rouble and US dollar in a currency basket. In the period following the Bretton Woods Conference of 1944, exchange rates around the world were pegged to the United States dollar, which could be exchanged for a fixed amount of gold. This reinforced the dominance of the US dollar as a global ...
Russia is seeking to convince BRICS countries to build an alternative platform for international payments that would be immune to Western sanctions when it hosts the group's leaders at a summit ...