BRICS

The BRICS alliance continues to strengthen its position on the global stage. After consolidating its dominance in the oil and gas sectors, the group now holds a significant share of the world's rare metal reserves. These strategic resources could provide a crucial advantage to the alliance in international trade.

In an effort to reduce their dependence on the US dollar, BRICS member countries are intensifying their efforts to establish a new global economic dynamic. This initiative, driven by recent developments and major agreements, could disrupt the current balance of international trade.

The 2024 Shanghai Cooperation Organization (SCO) summit witnessed major geopolitical tensions. In a move that could redefine dynamics of international trade, India has officially rejected China's proposal to replace the US dollar with the yuan for trade. This decision marks a significant turning point in relations among BRICS members. India's firm stance reflects not only its economic concerns but also a growing distrust toward China's global ambitions.

Russia's oil revenues are experiencing a spectacular surge despite severe economic sanctions imposed by the United States. In June, oil and gas revenues soared to $9.4 billion. This unexpected performance highlights Russia's economic resilience and underscores the growing role of the BRICS bloc in the global energy landscape. While the sanctions aimed to weaken Moscow, Russia has adeptly navigated these obstacles to redefine the dynamics of the international oil market.

The decoupling from the US dollar, a key ambition of the BRICS, has just suffered an unexpected blow. Despite years of concerted efforts to erode the dominance of the US dollar, a new report from the Atlantic Council reveals that these initiatives have failed to seriously threaten the supremacy of the greenback. This unexpected finding raises doubts about the viability of the economic strategies of the BRICS.

A new front of economic tensions is opening up between China and the European Union, threatening to disrupt the global trade balance. In response to the EU's proposals to impose tariffs on Chinese electric vehicles, China, an influential member of the BRICS, has warned of the possibility of a trade war.

The BRICS is gearing up for a major expansion as seven new countries have officially submitted their applications to join the alliance before the 2024 summit. This development, which signifies a significant shift in global geopolitics, reflects the growing appeal of this bloc and its ambitions to reshape the global economic order. By bringing in new nations, the BRICS could redefine international and economic relations, posing challenges and opportunities for global players.

De-dollarization, a recurring concept in economic discussions, is the subject of a lively debate. While some view this movement led by the BRICS as an imminent threat to the dominance of the US dollar, eminent experts reject this idea as unfounded. This article explores why the idea of de-dollarization is seen as a "big joke" by some experts.

Despite American sanctions, Russia distorts calculations and shows even stronger economic health by 2024. Against all odds, the co-founder of the BRICS reveals in April an annual increase of 100% in its oil and gas revenues. From $7 billion last year, its revenue from oil and gas jumps to $14 billion in April 2024. The Russian case now stands as an excellent precedent for the BRICS in their march against the dollar.

As the crazy growth of the US debt of over 34,600 billion dollars continues to worry, the BRICS deliver a new blow to the greenback. China and Russia, two founding members of the alliance, have planned 260 billion dollars of commercial exchanges without using any US dollars. Only Russian ruble, Chinese yuan, and some euros. Other members of the coalition are expected to follow suit soon. Perceiving the immediacy of the threat, the USA react by combining threats and diplomacy. Details.

As the BRICS alliance intensifies its de-dollarization efforts, the success of this initiative remains uncertain. While several countries are considering joining or already adhering to this movement, the supremacy of the US dollar remains unchallenged. Indeed, despite the coordinated efforts of the BRICS member countries, the dollar continues to outperform the currencies of these nations.

Very bad news for the European Union and the USA! The IMF has just released its 2024 report on global economic prospects for the year. In this 202-page document, the Bretton Woods institution presents Russia as one of the strongest and most promising in 2024. The economy of this founding BRICS country, which was supposed to be bending under the pressure of Euro-American sanctions, is expected to experience a growth of 3.2% in 2024. Details.

The monetary influence of BRICS is increasing day by day. The latest news reports that the Chinese currency, the yuan, has surpassed the dollar as the most used currency in Russia. This change aligns with the alliance's desire to reduce their dependence on the American currency.

The BRICS plan to end the hegemony of the dollar in international transactions continues to provoke reactions in the United States. American Treasury Secretary Janet Yellen recently expressed her concern about the implementation of this project. Especially since, according to her, detrimental effects are being observed on the dollar.

In accordance with their ambition to move away from the dollar, the BRICS countries are increasing their initiatives deemed useful to achieve these goals. Essentially, this involves questioning certain institutions that promote American hegemony. Following this logic, Russia, an influential member of the BRICS, plans to present a new payment system that aims to undermine the SWIFT network.

If the BRICS have launched their development bank (NDB), it is with a goal. That goal is to finance public and private projects in line with their de-dollarization plan. This bank has taken the mission to heart and recently carried out a significant bond issuance from an economic and geopolitical perspective.

Recent data shows that China is strategically strengthening its oil stocks. For several months, the Middle Kingdom has been benefiting from its partnership with Russia for this purpose. Some believe that this is a way for China to expand its influence within the influential BRICS of which it is a member.

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Iran has recently called on the BRICS to establish a common currency to replace the dollar. This challenge to the dollar by Iran, but also increasingly by Saudi Arabia, explains why the Americans want to put an end to the Iranian regime. The end of the petrodollar would no longer allow the United States to finance its monstrous deficits through other countries.

While Chinese growth is faltering, Beijing is not hesitating to open the floodgates of fiscal and monetary stimulus in order to try to boost its battered economy. With credit easing, early distribution of local borrowing quotas, and massive issuance of government bonds, the Middle Kingdom is multiplying unprecedented expansionary measures. Objective: to regain vigorous growth by 2024.

China's hegemonic ambitions in the economic sphere have been well-known. The desire of the Asian giant and its BRICS partners to move away from the dollar is essentially an expression of this ambition. This ambition has recently seen progress involving the euro, the currency used in the European area.

In a sector where crypto is upending traditional financial paradigms, India is emerging as a revolutionary leader, leading the BRICS in a bold turn at the heart of the G20. This transformation, epitomized by the G20's keen interest in the crypto roadmap proposed by the IMF and FSB, is just the premise of a radically reimagined economic future. Let's dive into the heart of this epic where crypto intertwines with global politics, finance and a futuristic vision embodied by India.

China is one of the United States' fiercest competitors for global hegemony. At least in economic terms. To achieve this, the country seems to be pursuing a strategy of limiting or even reducing its investments in the United States. Saudi Arabia, which has just joined the BRICS, also seems to be doing the same, further confirming its plans to leave the dollar behind.

There's a growing chorus insinuating that the American hegemon is threatened by the BRICS. But what's really going on?

Bitcoin is a technological earthquake that is reshaping finance, energy, politics and morality with the aim of regenerating humanity.

In an already well-established geopolitical context, BRICS is gradually carving out a significant disruptive role. This coalition of emerging nations is intensifying its economic power with such force that the pressure keeps mounting. This trend is redefining global power dynamics, and some states, like France, seem to have no intention of remaining mere observers.

Nine countries led by Iran launch an alternative to the SWIFT network. Simultaneously, BRICS discusses the end of the dollar in Cape Town. 

In a recent interview, Jeremy Allaire, CEO of Circle, emphasizes the urgency of taking the threat of de-dollarization seriously. As more nations take steps to reduce their dependence on the US dollar, Allaire warns of the potential consequences of this growing trend.