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VOL. 10, ISSUE 7 (2023)
The BRICS' move away from US Dollar: The implications for international politics
Authors
Mohammed B E Saaida
Abstract
This essay explores the potential implications of the BRICS countries'
move away from the US dollar on international politics and foreign policy. The
BRICS countries, comprising Brazil, Russia, India, China, and South Africa,
have been working towards reducing their dependence on the US dollar in
international trade and finance, and the creation of a new currency could
represent the next step in this process. The move could lead to greater
economic independence and sovereignty for the BRICS countries, potentially
shifting the balance of power in the international system. However, it also
carries potential risks and challenges, including increased competition and
conflict with the US, and potential internal conflicts within the BRICS
countries over the management of the new currency. The move could potentially
lead to greater political cooperation among the BRICS countries and the
formation of a political bloc that challenges the dominance of Western powers
in international affairs. Nevertheless, the success of this move will depend on
the ability of the BRICS countries to coordinate effectively and manage the
risks and challenges associated with the creation of a new currency while
navigating its potential political implications on the international stage.
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Pages:35-39
How to cite this article:
Mohammed B E Saaida "The BRICS' move away from US Dollar: The implications for international politics". International Journal of Multidisciplinary Research and Development, Vol 10, Issue 7, 2023, Pages 35-39
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