Mexico Joins #BRICS in Epic Bid for Dedollarization: The End of US Economic Dominance?

The move towards dedollarization has gained traction globally as more countries seek alternatives to the US dollar. The traditional dominance of the dollar as the global reserve currency has allowed the United States to exert significant influence over the global economy. However, this has also created vulnerabilities and dependence for countries that rely heavily on dollar-denominated transactions. Mexico’s decision to pursue dedollarization comes at a time when the United States is facing criticism for its unilateral actions and attempts to use the dollar as a tool for geopolitical influence. President López Obrador has been vocal about the rude pressure from the US on issues such as fentanyl and has sought closer ties with China as an alternative to the strained relationship with its northern neighbor. The growing economic and political ties between Mexico and China have played a crucial role in Mexico’s decision to join the BRICS nations. The two countries have deepened their trade relationship, with China overtaking the United States as Mexico’s top trading partner. The US-Mexico trade disputes and US pressure on Mexico have further pushed Mexico towards seeking alternatives. Mexico’s frustration with the United States extends beyond trade issues. The country has criticized US intervention in its affairs and has called for greater autonomy in decision-making. President López Obrador’s letter to US President Joe Biden highlights Mexico’s desire for a more balanced and respectful relationship. The implications of Mexico’s dedollarization efforts and its bid to join BRICS are significant. If successful, it could lead to the establishment of a new reserve currency and a shift away from the US dollar as the primary medium of exchange in international trade. This could challenge the dominance of the United States and have far-reaching consequences for the global financial system. One of the key developments in this direction is the establishment of the BRICS New Development Bank, which aims to provide an alternative to existing financial institutions dominated by the West. The inclusion of Mexico would bring a significant boost to the bank’s resources and enhance its capacity to fund infrastructure projects and promote economic development in member countries. Welcome to LINE FLUX, your go-to channel on the transition to electric vehicles and green energy. Each EV launch is a special event! What if it’s a Mercedes, Volkswagen, Cadillac, or Audi? It will be awesome and amazing! The purpose of this channel is to showcase the elegance of clean mobility. Kindly Subscribe and hit the notification bell to learn something every day. ► ▬▬▬▬▬▬▬▬▬ ✅COPYRIGHT DISCLAIMER Lineflux doesn’t fully own some of the materials compiled in our videos. It belongs to people or organizations who ought to be respected. We use under: Copyright disclaimer section 107 of the Copyright Act 1976. “fair use“ is allowed for purposes such as criticism, comment, news reporting, teaching, scholarships, and research. ▬▬▬▬▬▬▬▬▬ For copyright issues!! Please contact us first if you are the author or owner of any material used herein, but your authorship has not been indicated or you object to its use. #lineflux #Brics summit #amlo #brics #brics summit 2023 china