According to (Reference News), Australian media published an article titled "The End of BRICS and the US Dollar", pointing out that the BRICS mechanism is accelerating the end of the US dollar hegemony.

The article points out that over the past 13 years, the proportion of China's international settlements in RMB in total payments has increased significantly. Other BRICS countries have seen the benefits and are eager to join this system.

The frequency of use of RMB in international trade has increased significantly and it has become a part that cannot be ignored in the global payment system.

At present, the share of RMB in global payment currencies has reached 4.74%, surpassing the Japanese yen and second only to the US dollar, euro and pound sterling.

In the global trade finance market, the RMB has even surpassed the euro and ranked second only to the US dollar.

This development not only enhances China's voice in the global economy, but also provides a reference for other BRICS countries because it means they can also reduce their dependence on the US dollar.

Dollar

The dollar has become a weapon

"De-dollarization" has become a wave. The reason why the whole world is actively cutting off ties with the U.S. dollar is because the U.S. dollar is not just a currency, it has been turned into a weapon by the United States.

The United States imposes sanctions by weaponizing the dollar, which not only brings tremendous economic pressure to the sanctioned countries, but also has a profound impact on the global economy.

Such hegemonic behavior has put many developing countries at a disadvantage in the international market and exacerbated global economic inequality.

In addition, the United States has used its financial advantages to promote its own interests while ignoring the development needs of other countries. This practice is also a major threat to global economic stability and prosperity.

For example, the United States controls international payments through the SWIFT system, which restricts many countries from conducting legal transactions. This behavior deprives people in other countries of their right to obtain products and services necessary for basic life.

To avoid this from happening, we have to abandon the US dollar.

The dollar is a ticking time bomb

Following China's example

As the United States imposes financial sanctions on many countries, its hegemonic behavior has caused dissatisfaction around the world. Many countries have begun to realize that relying on the US dollar means that they may face the risk of being sanctioned at any time. In this situation, countries have followed China's example and promoted settlement in their own currencies in order to seek greater economic independence and security.

For example, more than 60% of trade between Russia and Iran is already conducted in their own currencies, a practice that not only strengthens economic ties between the two countries but also provides a demonstration effect for other countries.

In addition, the United States has long been reaping the wealth of other countries through the US dollar, the world's main reserve currency. The instability of its monetary policy and the resulting inflation have made more and more developing countries aware of the potential risks of relying on the US dollar. Therefore, they have begun to explore the use of their own currencies for trade in order to maintain their own economic security and sovereignty.

"De-dollarization" is the general trend

The dollar hegemony will never return

Countries begin to settle in their own currencies, which will have a significant impact on the US dollar.

First, the dollar's status as the world's main reserve currency will be challenged.

If more and more countries choose to use their own currencies for trade, the demand for the US dollar will inevitably decline. This will not only affect the value of the US dollar in the international market, but may also lead to a weakening of the US's influence in the global economy.

Secondly, the negative impact of US dollar hegemony will become more obvious.

The United States exerts pressure on other countries by controlling the circulation of the dollar, making many countries economically constrained. However, this hegemony will be weakened when more countries begin to use their own currencies for transactions, allowing countries to formulate economic policies more independently.

In the future, we can foresee a more diversified and autonomous global financial system.

In this system, countries will no longer rely solely on the US dollar, but will maximize their economic benefits through local currency settlement and regional cooperation. This will not only help promote global economic recovery, but also promote more equal and mutually beneficial development relations among countries.