Investing Future: China and Russia BRICS Partnership is Collapsing the US Economy, Fall of Petrodollar

Investing Future Nov 4, 2022 Can BRICS With The Addition OF Saudi Arabia De-dollarize the US Dollar? The BRICS members have collectively attempted to disrupt the US dollar’s dominant position in the current global reserve currency structure through promoting the reform of the IMF’s SDR and supporting the renminbi’s inclusion into the SDR basket. These initiatives are part of the BRICS’ broader efforts to reform the existing multilateral international financial institutions. Chinese officials had expressed China’s interest in restructuring the global reserves currency structure and advocated for giving the SDR a greater role several months before the first BRIC summit….