this post was submitted on 30 Apr 2024
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[–] Gradually_Adjusting 15 points 7 months ago (1 children)

I feel like this not being the case would be a headline, but the fact of it is, or should be, patently unsurprising

[–] Chainweasel 10 points 7 months ago (1 children)

I mean, isn't De-dollarization the entire point of creating a new currency as an alternative to the US dollar?

[–] [email protected] 1 points 7 months ago

This would be about trade. Your country can make whatever currency it likes, but when you go to buy goods overseas, you tend to have to pay in USD. Not always, but it's the default.

BRICS don't like this, for obvious reasons, but they lack alternatives. They can try shifting to the Chinese Yuan, but that only moves the problem for everyone who isn't China. They can try to make their own currency union, but they aren't even as politically united as the EU, and the Euro has issues keeping everyone moving the same direction.