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> If all these countries trade with the BRICS currency ending reliance on the U.S. dollar, the greenback could be hit. The United States will find no means to f
by anonymouskimmer 3y ago
> If all these countries trade with the BRICS currency ending reliance on the U.S. dollar, the greenback could be hit. The United States will find no means to fund its deficit and the economy could begin to crumble.
The US has a large deficit with China, and a noticeable one with Mexico, but this statement seems hyperbolic. Mexico could very well join another international currency system, but it is likely too tied to the US to abandon the US dollar as a reserve currency.
https://worldpopulationreview.com/country-rankings/us-trade-deficit-by-country https://worldpopulationreview.com/country-rankings/us-trade-...
Here's Patrick Boyle's take on a BRICS reserve currency. It's been a month since I watched it so can't summarize it now: https://www.youtube.com/watch?v=JHZnVdBZJfA https://www.youtube.com/watch?v=JHZnVdBZJfA