BRICS Expansion Could Reshape World Politics & Financial Order
The next BRICS summit is scheduled on August 22 to 24 in Johannesburg, South Africa and the bloc is aiming to end Western financial supremacy. The BRICS bloc is looking at multiple options to challenge the U.S. dollar’s global reserve status and uproot the currency. The options include expanding the alliance to BRICS + by inducting interested countries who want to be a part of the group. Around 22 countries have expressed their interest to join BRICS and take on the U.S. dollar’s hegemony in global trade. Also Read: 69 Countries Expected To Attend BRICS Summit in August The development puts the U.S. dollar under pressure as more countries are ready to reject it and look for alternatives. The BRICS expansion could pose a threat to the U.S. dollar as the soon-to-be-joining countries are major oil-producing nations. BRICS is an acronym for Brazil, Russia, India, China, and South Africa. BRICS Expansion Could Challenge The U.S. Dollar Source: pakistantoday.com.pk...