By “They can go find another “sucker!” there is no chance that the BRICS will replace the US Dollar in International Trade.
In his quest to make America great again and maintain its world superpower status, the incoming United States of America (USA) President Donald Trump has warned BRICS to refrain from their de-Dollarisation venture or face consequences with America.
The economic bloc made up of emerging economies including Brazil, Russia, India, China and South Africa, is growing its economic territory and muscle as more and more country are joining the bloc; including oil producing countries from the global South.
More attractive to BRICS, is the proposed move to have its own currency; while that is being developed; BRICS agreed to use the R5, basically to trade in the currency of member state thereby excluding the Dollar. This move helps in creating demand of member state’s currencies, which in turn will help lower inflation in their respective countries.
The BRICS countries may agree on a fixed exchange rate that is lower compared to the US Dollar, there by attracting more foreign direct investment into their countries and leaving out the US empire.
The US Dollar has been enjoying its status as a global reserve currency for eons, which makes America the most powerful country in the world, a shift from the US Dollar is a threat to the world order as we know it.
Trump in his social media page said America cannot stand by and watch BRICS countries move away from the Dollar. He said he wants the member states to commit that they will neither create a new BRICS currency nor back any other currency to replace the mighty US Dollar or they will face 100% tariffs and should expect to say Goodbye to selling into the wonderful US economy.
“They can go find another “sucker!” there is no chance that the BRICS will replace the US Dollar in International Trade, and any country that tries should wave goodbye to America,” said Donald Trump.
