Michael Cowan: BRICS in Panic as Dollar Becomes King again

As the sun sets on the second decade of the 21st century, a troubling phenomenon is unfolding in the global economy: the resurgence of the US dollar as the dominant currency. For the BRICS nations—Brazil, Russia, India, China, and South Africa—this shift has sparked panic, as governments around the world are grappling with instability and potential collapse. Historically, the dollar has served as the world’s reserve currency, a status that affords the United States significant advantages in global trade and finance. However, in recent years, the rise of BRICS was heralded as a potential challenge to this status. With their…