Nations and regional alliances are increasingly moving away from the US dollar for their trade transactions, a process termed de-dollarization. This trend seeks to decrease dependence on a single currency, thereby enhancing economic stability by employing a variety of local currencies. By prioritizing their own currencies, countries aim to mitigate geopolitical risks and bolster their domestic economies. This ongoing shift is transforming global trade and financial systems, potentially reducing the global dominance of the US dollar.
In this video, we examine the recent trend among various nations to decrease their dependency on the US dollar for international transactions. We investigate the reasons driving these decisions and offer insights into their economic strategies. Additionally, we focus on de-dollarization efforts within the BRICS+ bloc, highlighting significant steps these countries have taken to diversify the currencies used in global trade.