BRUSSELS: The Modern Diplomacy on Friday claimed that the upcoming summit of the BRICS, a group of large developing economies of Brazil, Russia, India, China, and South Africa, would significantly impact world geopolitics.
According to the report, launching a common currency among the member countries is the summit’s main agenda item. It also has the potential to change the geopolitical landscape and jeopardies American supremacy because it aims to reduce the dominance of the U.S. Dollar in international trade.
It stated, “For decades, the U.S. Dollar has reigned supreme in global trade and transactions, affording the United States unparalleled economic and geopolitical leverage. The U.S. has been using the dollar and economy to coerce and pressure its adversaries, and imposing sanctions was a common tool against its rivals to achieve political goals.”
There has been an increasing sentiment against U.S. supremacy, hegemony, and coercion. It said, “The proposed launch of a BRICS common currency or de-dollarization aims to alter this status quo, potentially diminishing the American influence and power closely tied to the dollar’s dominance.”
Xinhua/APP
