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Areas Where BRICS Challenges the USA and Areas Where It Falls Short
As the global economic balance tilts and new alliances emerge, one question echoes through diplomatic halls and financial markets: Can BRICS really challenge the dominance of the US? With the addition of new members and a renewed push toward de-dollarization, the alliance is no longer just a symbolic bloc. It’s a growing coalition that seeks to reshape the global financial order. But how close are they to actually succeeding?
Also Read: India Distances Itself From BRICS To Secure Trade Deals With the US
Also Read: India Distances Itself From BRICS To Secure Trade Deals With the US## Areas BRICS Challenges the Might of the US Dollar
BRICS nations now control a significant share of the world’s energy and commodity reserves outpacing the US. For example, Russia, Iran, and the UAE are oil and gas giants. Brazil is a food and agriculture powerhouse. South Africa is a key player in gold, platinum, and rare earth metals. China dominates the global manufacturing sector and also possesses rare earth minerals. If these countries decide to settle all these trades only in national currencies, the US dollar will be in deficit.
BRICS nations now control a significant share of the world’s energy and commodity reserves outpacing the US. For example, Russia, Iran, and the UAE are oil and gas giants. Brazil is a food and agriculture powerhouse. South Africa is a key player in gold, platinum, and rare earth metals. China dominates the global manufacturing sector and also possesses rare earth minerals. If these countries decide to settle all these trades only in national currencies, the US dollar will be in deficit. Strategic Control Over Resources
Also Read: BRICS Omits De-Dollarization & New Currency at 2025 Summit
Also Read: BRICS Omits De-Dollarization & New Currency at 2025 Summit### Where the Alliance Falls Short