BRICS working on dollar alternative - Does crypto play a role?
Crypto might play a role, but not as the primary choice. — While some commenters see potential for crypto to become a preferred choice due to its borderless transactions and as a way for BRICS to reduce dollar-dependence, a notable number argue that BRICS is more focused on their own currencies or possible common units of account. There is also skepticism about BRICS currencies replacing the dollar due to concerns about corruption and stability.
Will BRICS members give up on the US dollar?
Yes, BRICS members will challenge the US dollar's dominance. — Majority of the comments suggest that BRICS members are either actively working towards giving up on the US dollar or could pose a serious challenge to it. The inclusion of Saudi Arabia, potential resource backing, and issues with the current fiat system of the US dollar have been highlighted as significant factors.
Now that six more countries will join BRICS, how will this affect G7?
The addition of six more countries to BRICS will pose challenges but will not significantly impact the G7's global influence. — The majority of comments suggest that while BRICS may increase in economic competition and introduce some geopolitical dynamics, the G7 remains more cohesive, economically powerful, and internationally influential. Even though some view BRICS as a potential counter to Western-led alliances, the inherent rivalries and differing interests within BRICS, especially between major players like China and India, will likely prevent it from surpassing or significantly impacting the G7 in global affairs.
