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Volatility in Chinese Yuan, Russian Ruble Makes De-Dollarization Harder, Market Analyst Says
21.8.2023
A market analyst says that the recent decline and volatility in the Chinese yuan, the Russian ruble, and to a lesser extent the Argentine peso, “will only add further challenges to the idea of de-dollarization.” He stressed that countries are “unable to agree on a clear path to de-dollarization...
Dollarization Can Lead to ‘Economic Contraction and Collapse’ of Argentine Economy — Former US Treasury Official
20.8.2023
The U.S. chairperson of the Official Monetary and Financial Institutions Forum (OMFIF) has characterized the Argentinian presidential hopeful’s plan to fully dollarize the economy as “a far too risky gamble.” Mark Sobel said full dollarization without an exit policy “could...
BRICS Expansion Will Speed Up De-Dollarization, Chinese Expert Says
20.8.2023
As more countries join the BRICS economic bloc, there will be a significant increase in settlements using national currencies, leading to an acceleration in the de-dollarization process, a Chinese expert says. “For most developing countries, development is a top priority. That is why the BRICS...
US Dollar to Remain Major Global Currency, South Africa’s BRICS Sherpa Says
17.8.2023
BRICS plans to discuss trade in national currencies at its summit but de-dollarization is not on the agenda, South Africa’s BRICS Sherpa stated. The talks in Johannesburg next week will also focus on the expansion of the bloc of emerging economies and the diplomat doesn’t see this as a challenge...
Libertarian Javier Milei Wins Argentine Primaries: Experts Weigh In on Dollarization as the Peso Fades
15.8.2023
Javier Milei, a libertarian politician, won the Argentine primaries with more than 30% of the total vote, causing experts to weigh in on the dollarization plans he has vowed to apply. Milei’s government plan contemplates reducing the political apparatus in Argentina and axing the central...
BRICS Is No Joke, Bloc Could Become G7 Counterpart, Experts Say
14.8.2023
The BRICS challenge to the world’s established economic order is not a joke, according to experts in the field of international relations. Now that the bloc, which unites leading emerging markets, accounts for over a quarter of the global gross domestic product (GDP), it could become a counterpart...
BRICS Expansion to Make West Recognize New World Order, De-Dollarization: UAE Professor
12.8.2023
The accession of new members will allow BRICS to push the West to accept changes in international relations, an expert from UAE has been quoted as stating. That’s valid in particular for cross-border trade and de-dollarization, said Mohamed El Yattioui, professor at the American University in...
Putin and Ramaphosa Discuss BRICS Summit, Trade and Cooperation; Russian President to Join via Video Link
10.8.2023
Russian president Vladimir Putin and South African president Cyril Ramaphosa recently addressed cooperation, trade, and preparations for the upcoming BRICS summit. The two leaders conversed about practical cooperation and the expansion of the organization, reflecting a shared commitment...
Brazil’s President Reaffirms De-Dollarization Call — Discusses BRICS Expansion
8.8.2023
Brazil’s President Luiz Inacio Lula da Silva has reaffirmed his call to shift away from the U.S. dollar in global trade. He also revealed his stance on the expansion of the BRICS economic bloc ahead of the group’s upcoming summit. “I have said publicly, why does Brazil need...
Economist Expects US Rating Downgrade to Accelerate De-Dollarization Process
5.8.2023
Economists have warned about the adverse impact of Fitch’s U.S. rating downgrade on the dollar. One expects the downgrade to “accelerate” the process of de-dollarization globally. Another stated that it may be “a part of the gradual decline of the U.S. dollar system.”...
Russia Says BRICS Currency Unlikely in Near Future but De-Dollarization Grows Globally
4.8.2023
Russia says that a common BRICS currency is unlikely to be feasible in the near future but the process of de-dollarization of the global economy is inexorably underway. Russian Press Secretary Dmitry Peskov added that many countries, including those that do not face sanctions, are gravitating...
Stablecoins: A Potential Counter to De-Dollarization
3.8.2023
Demand for greenbacks in the global economy is increasingly flowing into permissionless stablecoins, even as domestic policies and foreign efforts like a BRICS-issued currency could erode the U.S. dollar's overall dominance
Cato Institute Experts: Dollarization ‘Protects Ordinary People’s Purchasing Power’
31.7.2023
According to Cato Institute experts, full dollarization of the Argentine economy helps to protect “ordinary people’s purchasing power” from corrupt politicians and “often subservient—or simply incompetent—central bankers.” The experts said the loss of seigniorage should...
Russian Official Says BRICS Currency Could Be Discussed at Upcoming Summit
30.7.2023
Russia’s deputy prime minister has stated that the topic of a common BRICS currency may still be on the table at the economic bloc’s upcoming leaders’ summit. A total of 69 leaders, including all African heads of state, have already been invited to the August summit where de-dollarization...
Robert Kiyosaki Insists US Dollar Will Die as BRICS Summit Nears, 41 Nations to De-Dollarize the World
28.7.2023
Rich Dad Poor Dad author Robert Kiyosaki has reiterated his warning about the impending demise of the U.S. dollar as the BRICS summit approaches. The famous author anticipates the launch of a new currency by the economic bloc and the de-dollarization efforts of around 41 nations seeking to join...
South Africa’s Foreign Minister Hints at Expansion of BRICS Bloc With 3 New Members
27.7.2023
In a recent interview published on July 26, South Africa’s foreign minister Naledi Pandor highlighted the BRICS group of economies’ commitment to peace, asserting that these nations do not aim to “weaponize the oceans.” Moreover, leading up to the much-anticipated 15th BRICS...
BRICS Invites 69 Leaders to August Summit — Western Countries Omitted
26.7.2023
The BRICS economic bloc has invited 69 leaders to its upcoming summit, including all African heads of state and the political heads of major Global South bodies. More than 40 countries have expressed interest to join the BRICS group, with 22 nations already having submitted official applications....
BRICS Currency Not on Agenda for Leaders’ Summit — Nations to Focus on De-Dollarization
23.7.2023
The heavily anticipated BRICS currency is not on the agenda to be discussed at the economic bloc’s upcoming leaders’ summit, according to South Africa’s diplomat in charge of BRICS relations. He clarified that the BRICS members will focus on de-dollarization and promoting the use of national...
BRICS Interest Soars: 40+ Countries Seek Membership as De-Dollarization Efforts Grow
21.7.2023
South Africa’s top diplomat responsible for BRICS relations has revealed that more than 40 countries are interested in joining the economic bloc. Among them, 22 nations have formally applied for membership. He believes that the BRICS group could expand to include more than 50 countries. BRICS...
JPMorgan Warns Dollar Dominance Faces Risks From Political Instability, US-China Tensions
21.7.2023
JPMorgan has warned of the risks to the U.S. dollar’s dominance from escalating U.S.-China tensions and political instability. The global investment bank’s strategists anticipate “partial de-dollarization,” in which the Chinese yuan gradually assumes a more significant role...