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The latest bout of concern about the U.S. dollar emerged because a number of these BRICS countries are considering a plan to create a new reserve currency that they The Kremlin said on Monday that any U.S. attempt to compel countries to use the dollar would backfire after U.S. President-elect Donald Trump threatened to impose tariffs Calls for a global shift away from dollar dominance are not new, nor are they unique to BRICS, but experts say recent geopolitical shifts and growing tensions between the Recent forecasts suggest that the U.S. dollar might face a severe crisis starting in 2025. Experts predict a potential downfall, linked to the strategic moves of the The BRICS countries, comprising Brazil, Russia, India, China, and South Africa, have been working towards reducing their dependence on the US dollar in international Given the recent expansion of the “BRICs” countries to include five new members, will the US dollar remain the world’s reserve currency? Franklin Templeton

Could a new world order threaten the U.S. dollar's dominance? While the BRICS nations have been actively seeking alternatives, a new concern is emerging: the potential for the GCC nations, alongside an expanded BRICS alliance, to further challenge the dollar's reign. The latest bout of concern about the U.S. dollar emerged because a number of these BRICS countries are considering a plan to create a new reserve currency that they hope will diminish reliance on the greenback for international trade and finance. This movement gains momentum amid geopolitical tensions and a perceived shift in global power.

The BRICS countries, comprising Brazil, Russia, India, China, and South Africa, have been working towards reducing their dependence on the US dollar in international trade. This effort includes promoting trade in their own currencies and exploring alternative payment systems. Now, with potential alliances forming with GCC (Gulf Cooperation Council) nations, the pressure on the dollar could intensify.

Calls for a global shift away from dollar dominance are not new, nor are they unique to BRICS, but experts say recent geopolitical shifts and growing tensions between the U.S. and other major powers are accelerating this trend. The Kremlin said on Monday that any U.S. attempt to compel countries to use the dollar would backfire after U.S. President-elect Donald Trump threatened to impose tariffs, highlighting the growing resistance to perceived dollar hegemony.

Given the recent expansion of the “BRICs” countries to include five new members, will the US dollar remain the world’s reserve currency? Franklin Templeton and other financial institutions are closely monitoring the situation. The addition of new members to the BRICS group could further consolidate efforts to de-dollarize, potentially leading to significant changes in the global financial landscape.

Some analysts even predict a potential crisis. Recent forecasts suggest that the U.S. dollar might face a severe crisis starting in 2025. Experts predict a potential downfall, linked to the strategic moves of the BRICS and possibly the GCC nations. While the exact timeline and impact remain uncertain, the growing momentum behind de-dollarization efforts warrants serious attention. The future of the U.S. dollar as the world's reserve currency is far from guaranteed.

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