For decades, the dominance of the US dollar in the global economy has remained unchallenged. The dollar’s influence stretches far beyond the United States, with many countries using it alongside their local currencies. This global dependence on the dollar is both a symbol of America’s financial power and a potential vulnerability for other nations. However, recent developments have prompted discussions about whether this dominance can continue or whether alternatives, particularly through BRICS (Brazil, Russia, India, China, and South Africa), could emerge.

A New World Order?

One of the most notable events recently was an agreement between India and China, which is part of a larger effort by BRICS nations to position themselves as a counterweight to the US dollar’s dominance. This issue has gained traction in the wake of global economic shifts and geopolitical tensions. A key aspect of this discussion is how BRICS countries can shield themselves from what Russian President Vladimir Putin has referred to as the US dollar’s “weaponisation.”This issue of dollar dominance is a recurring theme in international forums like the BRICS summit. It stems from concerns about the unpredictable nature of US sanctions, as seen in the aftermath of the Russia-Ukraine conflict. For Russia, these sanctions severely…