3 Economics Driving De-Dollarization: The Shake-Up You Can’t Ignore
The global financial order is cracking—and these three economic forces are wielding the sledgehammer. Forget gradual shifts; we're witnessing a full-blown assault on dollar dominance. Here's what's fueling the fire.
The BRICS Bloc Flexes Its Muscles
Gold-backed currencies, bilateral trade deals, and a shared disdain for Western sanctions. The coalition isn't just talking about alternatives—they're building them.
Central Banks Go Rogue
From Moscow to Beijing, reserves are being quietly diversified. Bitcoin? Check. Yuan? Check. Even gold's making a comeback. The message? 'Anything but dollars.'
Crypto's Silent Coup
Decentralized networks don't ask for permission. Stablecoins bypass SWIFT, CBDCs threaten correspondent banking—while Wall Street still debates 'if' crypto matters.
One thing's clear: the dollar's exorbitant privilege isn't a divine right—it's a ticking clock. And as usual, traditional finance is busy rearranging deck chairs on the Titanic.
3 Economies Leading De-Dollarization
It seems that the global financial sector is onto the US dollar, leaving no stone unturned to derail its current stature. India, being one of the major global economies, has recently announced plans to strengthen its rupee. To do that, India’s Reserve Bank of India has issued an order to prioritize the rupee in global trade, facilitating seamless, faster rupee-based orders globally. This MOVE underlined India’s decision to make INR a leading global player a narrative that challenges the US dollar’s prestige when considered in a broad spectrum narrative.
“Based on a review of the procedure involved in opening of the SRVA, it has been decided to do away with the need for seeking RBI approval for opening of SRVA. AD banks can now open SRVAs of correspondent banks without referring to the Reserve Bank of India,” the RBI said in an official release (Financial Times).
BREAKING NEWS
India strengthens its push against Dollar dominance
RBI now allows faster, simpler Rupee-based trade settlements with global partners, a move to make INR a serious player in world trade
The #Rupee is knocking on the global stage.#DeDollarization pic.twitter.com/c1iAboJfEf
Brazil is another leading player pushing for an agenda stating how nations should lower their dependency on the US dollar. Brazil’s PM Lula, in his recent interview, shared how the BRICS bloc should explore launching a BRICS currency.
Lula was documented sharing an opinion.
Lula says BRICS should discuss creating a shared trade currency: ‘We need to test it’
Is de-dollarization looming? pic.twitter.com/PrP48dYtCu
The BRICS currency has always been a controversial line of topic, inviting the wrath of Donald TRUMP himself. Trump has vowed to impose tariffs on BRICS if they attempt to implement active ideas of de-dollarization in the near future.
Trump unleashes a Whopper and targets BRICS Nations trying to move away from the US dollar.
If they don’t support the US Dollar, they will face 100% tariffs and expect to say goodbye to selling anything into the US.
They will say hello to tariffs and goodbye to America. pic.twitter.com/kp0QVz8IpF
A New Country Wants To Drop USD By 2030
Zimbabwe is the latest contender to join the growing de-dollarization debate. The country’s Central Bank has announced plans to launch a de-dollarization roadmap by November, as per the Xinhua news portal.
The bank’s governor, John Mushayavanhu, stated that this move attempts to prioritize Zimbabwe’s need to maintain currency stability. The roadmap will also emphasize capping USD usage by 2030, sending a bold message across the domain. The nation is keen to promote its new currency, ZiG, in efforts to bolster its economic infrastructure.
