The BRICS alliance, comprising Brazil, Russia, India, China, and South Africa, is witnessing an unprecedented surge in interest from developing nations seeking membership in 2025. A total of 23 countries have expressed their desire to join the bloc, with hopes of securing alternative payment options for trade settlements beyond the US dollar. This development signals a potential shift in the global economic landscape, as emerging economies aim to reduce their reliance on the dollar and strengthen their local currencies.
According to Russian Presidential aide Yury Ushakov, the BRICS alliance is actively considering the induction of “like-minded countries” in the upcoming summits. The growing interest from nations such as Azerbaijan, Bangladesh, Colombia, Morocco, Venezuela, and Zimbabwe highlights the increasing appeal of BRICS in fostering cross-border transactions using local currencies. By reducing their dependence on the US dollar, these countries aim to bolster their financial sovereignty, enabling their currencies to gain prominence in the forex market.
The move toward de-dollarization could have profound implications for the global economy, especially for the US dollar’s dominance in trade and finance. As more countries explore alternatives to the dollar for international transactions, the pressure on the greenback may increase, potentially diminishing its global supply and demand influence. For developing nations, the ability to use local currencies for trade settlements could result in strengthened GDPs and more resilient economies.
Also Read: US Dollar Surge in 2025 Undermines BRICS’ De-Dollarization Efforts
This shift in the global economic balance presents a challenge for traditional financial systems, particularly in the US. If BRICS successfully implements its de-dollarization agenda, it could signal a significant transformation in how global trade is conducted. As more countries vie for inclusion in the BRICS bloc, the alliance is poised to become an even more influential force in 2025, with the potential to reshape the future of global finance.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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