BRICS’ Common Currency: A Dream Fading Under Pressure? For the last two years, BRICS has been aggressively pushing de-dollarization, aiming to sidestep the weaponization of the U.S. financial system. The alliance has promoted alternatives like BRICS Pay, direct trade in local currencies, and even settlement mechanisms outside of SWIFT. But the real bombshell was the proposal for a BRICS common currency—a move that rattled Washington and prompted then-President Joe Biden to call it a direct challenge to U.S. financial hegemony. Now, with Donald Trump back in the White House, the pressure has only intensified. The newly re-elected president has threatened 100% tariffs on BRICS nations that attempt to ditch the dollar. Western financial institutions, including the IMF, have also issued…
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