Major Global Shift Expected as Nearly 20 Countries Plan to Abandon USD in 2024

BRICS Initiative: Challenging Dollar Hegemony

• BRICS alliance, now including new members, initiates global currency shift
• Growing influence challenges USD dominance in international trade

ASEAN and Others Joining Forces

• 10 ASEAN countries and various nations from Africa, Middle East set to abandon USD
• Strengthening ties between BRICS and ASEAN for a formidable global economic impact

Challenging USD Dominance

• De-dollarization movement reflects discontent with USD's power
• Shift impacts trade, reserves, financial methods, highlighting desire for economic reformation

Economic Reasons Behind Shift

• Concerns arise from U.S.'s declining global share versus dollar's influence
• Transfer of resources to U.S. through dollar raises global financial stability questions
• Movement fueled by concerns over U.S. leveraging currency for foreign policy

Despite Shift, USD's Immediate Influence Persists

• No viable alternative to replace dollar in global economy yet
• Overreliance on USD poses risks, especially for developing nations

This shift away from the USD, led by major developing nations, marks a pivotal step towards a multipolar economic landscape. While it may challenge USD dominance, the process reflects growing concerns about the global economic balance and the need for a more equitable international financial structure.