30 Nations Eye BRICS Alliance and Ready to Challenge US Dollar Dominance


Thirty countries are poised to join the BRICS bloc after the 2024 summit, signaling a significant shift away from the US dollar. Nations across Asia, Africa, South America, and Eastern Europe are drawn to the BRICS de-dollarization agenda, seeing it as a pathway to economic independence and the strengthening of their local currencies. This move threatens to undermine the US dollar’s global influence, potentially disrupting numerous sectors in the United States. The upcoming BRICS summit could mark a pivotal moment in the ongoing shift in global economic power.

Several developing countries are relying on the BRICS alliance to get rid of their economies’ dependency on the US dollar. Developing nations in Asia, Africa, South America, and Eastern Europe are impressed with the BRICS de-dollarization agenda and find it lucrative. The majority of these nations are aiming to join the BRICS bloc after the summit in October 2024.

Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade. Ending dependency on the US dollar will provide an opportunity to strengthen their native economies and give local currencies a boost. Therefore, the 2024 summit is the most crucial for BRICS and the prospects of the de-dollarization initiative.

BRICS: Around 30 Countries Looking To Join the Alliance After 2024 Summit

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Source: Getty Images

The Ambassador of Russia and China Igor Morgulov confirmed that 30 countries are looking to join BRICS after the 2024 summit. “There are about 30 countries wanting to join the BRICS family,” said the Russian Ambassador.

“So we are elaborating on the modalities of a new BRICS partner country category, and actively using outreach and the BRICS-plus dialogue mechanism to interact with non-BRICS partners,” at the 2024 summit, he said.

He explained that a new strategy for BRICS economic partnerships with other countries will be decided in the 2024 summit. The economic partnership will cover many businesses and finances that help the member’s economies.

This article originally appeared on Watcher.Guru

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