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Four of the top five founding members of the BRICS alliance hold a combined 75.7 million metric tons of rare earth minerals. On the contrary, the US holds only 1.9 million metric tons of the rare earth reserves. The US is far behind and now depends on other countries for resources. BRICS member China dominates the list, controlling the majority of the rare earth minerals. China holds a staggering 44 million metric tons, having the world’s biggest reserves. The Communist country is now leveraging its resources to dictate trade terms and policies with the US and other Western countries. Source: Bluekurtic Market Insights / InvestingNews.com Also, BRICS member Brazil comes second with 21 million metric tons of the rare earth minerals. India is in the third spot, holding 6.9 million metric tons of materials. Russia also holds 3.8 million metric tons, owing to a vast reserve of natural resources. Also Read: BRICS New Members: China & Brazil Back Malaysia’s Full Entry BRICS Controls The...

Chinese banks have helped clients offload overseas currencies worth $51.8 billion, the highest since 2020. BRICS member China is at the forefront of the US dollar sell-off, as optimism grows towards the Chinese yuan, reported Bloomberg. The lenders have sold a net $51.8 billion of foreign exchange on behalf of their customers in September. That’s the largest amount ever recorded since December 2020. The clients include importers, exporters, and other investors in overseas financial assets. The chart below shows a spike in currency conversion amid robust export growth in September. The move helped offset an outflow from securities investment, as foreign institutions continued to cut onshore bond holdings. BRICS member China and the Chinese yuan are gaining an upper hand against the US dollar amid trade tensions. Also Read: Sergey Lavrov Says West Can’t Be Trusted, Looks to BRICS for Support Source: Bloomberg Chinese Firms Dump US Dollar For Chinese Yuan, Giving BRICS a Boost in the...

The writing is on the wall, the world is less inclined to use the US dollar hereafter. While the US dollar’s exorbitant privilege persists, the symbolism from the BRICS alliance throws shade on the greenback. BRICS members India and Russia are paying for oil deals in the rupee, while China and Brazil are settling soybean exchanges in the Chinese yuan. The shift is glaring, and the bloc is willingly pushing local currencies to the forefront, giving the US dollar a miss. The bloc discussed grain exchange policies to boost trade ties in the grains and agricultural sector in September. Local currencies were prominently pushed forward for settlements, putting the US dollar out of the equation. Russia and India held constructive meetings on Friday, signing major agriculture deals benefiting both countries. BRICS members China and Brazil inked trade deals for soybeans, and the transactions will be settled in the Chinese yuan, while India and Russia’s deal will be settled in the rup...

Western finance, especially dominated by the US, has a wide web that includes using the dollar, stocks, bonds, and Treasuries, among other assets, to fund its deficit. While this is a narrow term, the broad term, take for example Treasuries, also includes Treasury bills, Treasury notes, and Treasury bonds, among others. There is an array of US dollar-denominated assets to choose from, and the network is the biggest in the world. Escaping from the US clutches is impossible, but BRICS is now mirroring Western finance with its own financial mechanism. Also Read: BRICS In Process To Launch Alternative Trading Platform: Diplomat BRICS Replacing Western Finance One Step At a Time Source: Watcher Guru BRICS countries are planning to build and mirror Western finance into their payment mechanism. The alliance is looking to create its own payments, currency, settlements, depositories, and swap lines, all outside the US dollar. While the work to achieve the feat is still in progress and could tak...

China is pushing the Chinese yuan to become a BRICS reserve currency, challenging the US dollar in global trade. While Russia and Brazil heavily use the yuan for oil and commodity payments, India and South Africa remain cautious. They prefer a multicurrency system instead of using only the Chinese yuan. The internal divide among member nations is not letting the alliance grow to its full potential. While China has not officially urged BRICS members to make the yuan the reserve currency, the steps the Communist country has taken to embolden the currency raise serious doubts about its agenda. However, during the 2023 and 2024 summits, the Xi Jinping administration suggested using the yuan in trade, cross-border payments, and central bank reserves. Also Read: Minister Drops Major New Hint on BRICS Currency China advocated that member nations reduce reliance on the US dollar and begin trading in local currencies, especially the yuan. It made BRICS members, Russia, Brazil, and other countri...

The takeaway from the BRICS summit last week is that the alliance is aiming for a multipolar world order. The bloc wants to dim the lights on the Western-dominated sector and usher in a new financial order. Developing countries are diversifying their Central Bank reserves with gold and other local currencies, ending reliance on the US dollar. The latest journal from The American Conservative observes that BRICS is successful in building the stepping stones for a new world order, challenging the West. “China, Russia, and other non-Western countries are building a viable alternative to the US-led world order,” wrote Ted Snider. Also Read: China Settles $855 Billion Worth of Deals With BRICS Countries in 2025 BRICS Building Stepping Stones For a New World Order Source: ShutterStock BRICS is focused on replacing the Western-led institutions and making the Global South the center of the multipolar world order. “The international organization is a growing multipolar alternat...

At the BRICS Forum Trade in Brazil this week, Nigeria’s House Committee on Foreign Affairs, Wole Oke, called on all global alliances to stand united and join the force to topple the US dollar as the world’s reserve currency. The Foreign Minister also said that BRICS must start trading in local currencies and other alliances will follow suit. He called for the African Union, the ASEAN bloc, MERCOSUR, and all other global alliances to join hands with BRICS and settle trade in local currencies and not the US dollar. The call to uproot the US dollar is growing lately with emerging economies looking to cut ties with the greenback. Also Read: BRICS: 71 Countries Settled Trade Without the US Dollar “BRICS is not a closed club. Let’s work with the African Union, ASEAN, and MERCOSUR to shape a new global trade order that is fair and inclusive,” he said to Punch Newspaper. Oke said that the traditional way of the financial sector must end ushering the world into a new era of finances. The ...

The DXY index, which tracks the performance of the US dollar has been failing to climb above the 100 range for two months. The greenback is failing to hold on to its resistance level and is slipping back to the 98-99 range after it touches the 100 mark. On the other hand, local currencies are rising in the charts and delivering better performance than the USD. The BRICS currencies are also surging in value, and taking the recent developments into consideration, Morgan Stanley has painted a bearish picture for the US dollar. Source: MarketWatch As BRICS looks to uproot the US dollar, leading global investment bank Morgan Stanley has predicted that the US dollar could decline by another 9% in the indices. The forecast estimates that the greenback’s DXY index could fall to the COVID-19 level low. The global bank wrote that the greenback could fall to the 91 level next losing considerable value. That’s a five-year low and is a steep decline despite the market recovering from the...

A new agreement has been signed, and it is poised to have major geopolitical ramifications as Saudi Arabia has seemingly dropped BRICS, inking a new deal with the US in 2025. Indeed, Riyadh has agreed to a “strategic economic partnership’ with the United States amid a visit from President Donald Trump on Tuesday. Both Trump and Crown Prince Mohammed Bin Salman have reached the landmark agreement that will increase cooperation in energy, mining, defense, and other ventures. Indeed, the memorandum was reached in what is the US president’s first major foreign trip since his return to the White House. JUST IN: President Trump officially signs 'strategic economic partnership' with Saudi Arabia. pic.twitter.com/7ppmsaEeLb — Watcher.Guru (@WatcherGuru) May 13, 2025 Also Read: BRICS or the US? Saudi Arabia May Have Chosen a Side Amid the Faceoff Saudi Arabia & US Reach New Deal Despite BRICS Standoff Since his return to the Oval Office, Donald Trump has not been shy about his...

India first grouped with its BRICS members and sought to find an alternative to the US dollar for cross-border transactions. The Modi-led government then took a U-turn after Trump won the White House and threatened to impose trade tariffs. As the tariff threats grew stronger and Canada, Mexico, and China faced the heat, India slowly backtracked from the de-dollarization agenda. The first move was to protect its economy from tariffs as it could impact the country’s imports and exports sector. Also Read: Illinois Analyst Predicts If BRICS Currency Can Replace the US Dollar BRICS: India & the US Dollar Source: Reuters / ShutterStock Foreign Minister S. Jaishankar made multiple statements this year citing that India has no plans of advancing the de-dollarization agenda. The U-turn comes after Trump’s threats of tariffs forced them to backtrack on the ideology. Read here to know how India not only rejected de-dollarization but also embraced the US dollar. India contradicted the B...

Brazil has firmly positioned itself at the forefront of the growing de-dollarization movement within BRICS nations right now, and is actively championing dollar-free trade as well as promoting local currencies for international transactions. This represents, at the time of writing, a significant challenge to the U.S. dollar’s long-established role as the primary global reserve currency. BRICS Member Pushes De-dollarization—Nations Ditch the U.S. Dollar Source: Bitcoin.com Brazil’s Finance Ministry has made its de-dollarization stance quite clear as the country has recently assumed the BRICS chairmanship in 2025. Secretary Tatiana Rosito from Brazil’s Finance Ministry stated: “The trade in local currencies is already underway, for example, between Brazil and China. No obstacles exist to that on the side of Brazil.” The expanded BRICS alliance—which now includes Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran, and also the UAE—is ...

President-elect Donald Trump threatened BRICS countries of imposing 100% tariffs on goods entering the US if they pursue the de-dollarization agenda. The rhetoric came even before he officially took office indicating that a trade war would commence during his four-year tenure. Developing countries are guarding their economies against sanctions, as the White House has been imposing them for more than a decade. Also Read: BRICS: India Makes Huge Announcement on New Currency The Director of the Institute of Social Sciences, Ash Narain Roy, said that Trump’s threats to BRICS will not work. Roy explained that Trump is carried away by his victory and is unable to see the ground below his feet. Emerging economies have progressed even after ending dependency on the US dollar as their local currency is gaining prominence. The de-dollarization initiative started by BRICS will continue even in the Trump era, he said. Also Read: The US Dollar’s Clout Is Decreasing Globally, Says BRICS BRICS: ...