De-Dollarization: Donald Trump Gives Strategies To Save the US Dollar
The United States is slowly losing its hold as several countries have united to bring down the dollar. The BRICS bloc, consisting of Brazil, Russia, China, India, and South Africa, has been making strides with regard to de-dollarization. Thanks to China and Russia, over 90% of their bilateral commerce has been de-dollarized. Also Read: Top 3 Cryptocurrencies That Could Make You A Millionaire by 2030 The Impact Of De-Dollarization And Trump’s Response Source – International Affairs Journal It should be noted that several countries are trying to evade the sanctions imposed by the United States. Severe economic sanctions were placed on Russia in February 2022 after the crisis in Ukraine escalated. Since being cut off from the Western banking system, Russia has sought alternate trading channels, which has led some of its foreign allies to contemplate taking similar actions. This has been a big boost for de-dollarization. Economic Sanctions And Their Role In De-Dollarization Amidst thi...