BRICS De-Dollarization: Bloomberg Predicts the Future of the US Dollar
Bloomberg’s Senior Editor Chris Anstey analyzed the future of the de-dollarization initiative kick-started by the BRICS alliance this year. The bloc wants to put a full stop to the US dollar and uproot it from the world’s reserve currency status. The agenda is to put local currencies ahead for trade which could lead to the natural death of the USD. Also Read: BRICS: U.S. Dollar Crisis Could Begin in 2025 Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade. While the idea sounds easy on paper, the reality is painstakingly different as the currency markets are dependent on each other. The Bloomberg analyst predicted that the BRICS de-dollarization initiative will just be a “dream” that “remains a fantasy” forever. BRICS: De-Dollarization Will Remain a Fantasy, An Unrealistic Dream: Bloomberg Analyst Source: iStock The Bloomberg analyst wrote that the BRICS 2024 summit on de-dollarization showed no real d...