China, Saudi Arabia, Iran and UAE BRICS+ DEAL Will DESTROY The US Economy! | De-dollarization!“

SUPPORT US BY BUYING ME A COFFEE China’s astute partnerships with the new entrants, particularly in severing US oil supplies, mark a significant turning point. This strategic maneuver reshapes the energy landscape, challenging the US’s dominance and opening pathways for new global power dynamics. With the Belt and Road Initiative, China’s foothold in these nations gains substantial momentum, potentially eclipsing US and UK influences in the region. Saudi Arabia, a key player in global energy markets, and Iran, strategically positioned with vast oil and gas reserves, not only strengthen energy security for the BRICS but signify a reconfiguration of the global energy market. This shift could potentially alter the way energy resources are accessed and traded on the global stage, posing a direct challenge to the existing power structures. The strategic geographical placement of Egypt, acting as a crucial nexus between Africa, the Middle East, and the Mediterranean, brings a unique vantage point for trade and cultural exchange. Meanwhile, the UAE’s emergence as a global trade and finance hub presents a convergence of East and West, offering significant economic and diplomatic leverage in global affairs. Sidestepping the Dollar Is a Megatrend Countries like India, China, Brazil, and Malaysia are all setting up trade channels using non-dollar currencies. Their leaders are increasingly forging ways to trade directly with each other in their local currencies. For instance, China is paying for oil and other commodities from Russia in yuan instead of U.S. dollars. And it’s pushing for currency trade deals with Saudi Arabia and Brazil. There’s a trend of cutting the U.S. dollar out of the equation. And it’s a sign of BRICS countries’ growing dependence on fellow BRICS and other emerging market powers. From 2015 to 2022, BRICS imports from other emerging market countries grew from 30% to 34%.  Over the same period, BRICS exports to other emerging market countries grew from 28% to 32%.  These may seem like small changes. But they do show a pattern of broadening trade within the greater BRICS and emerging market bloc of countries. If you couple this growing trade amongst the BRICS and emerging market bloc… With more of that trade done in non-U.S. dollar currencies… It marks an undeniable shift away from the dollar. Every new deal struck between countries that once traded exclusively in dollars to trade in other currencies chips away at the global dominance of the U.S. dollar. That’s the math of it. And it’s no small footprint, either. The BRICS account for nearly half the global population and one-quarter of global GDP. And it’s gaining more economic ground. That’s because six new countries will enter the BRICS by January 2024: Iran, Saudi Arabia, the United Arab Emirates, Argentina, Egypt, and Ethiopia. And while the move seems unlikely, government leaders from the BRICS bloc are discussing a possible unified currency. Think of the euro but for the BRICS. It could even take the form of a unified central bank digital currency (CBDC) or be backed by gold. #china #chinanews #relaxian #chinasemiconductor #brics2023 #bricscurrency #iran #brics #bricssummit #bricssummit2023