The U.S. dollar is now in a do-or-die situation where other nations are challenging its dominance. 2023 remains pivotal as the USD could make or break on a global scale ushering in a new era in international trade. So will the BRICS nations move against the dollar and become a new global economic powerhouse? Well, maybe it’s time for the U.S. dollar to ‘die another day’. Here’s why!
Also Read: BRICS Advancing To Eliminate U.S. Dollar Financial System
The U.S Dollar Will ‘Die Another Day’ But Not Today
When Pierce Brosnan’s last James Bond movie ‘Die Another Day’ was released in 2002, a handful of critics wrote that the Bond franchise could end with the film. Such was the grip of Brosnan on Bond movies through the mid-90s and early 2000s.
When the makers decided to launch Daniel Craig as the next Bond, all hell broke loose as the audience failed to connect with Craig. Nonetheless, his first movie Casino Royale in 2006 was a massive hit, showing the world that the Bond series is alive and could well ‘die another day’ but not today.
Also Read: Will the U.S. dollar Collapse Now That BRICS Are Developing Their Own Currency?
The U.S. dollar is faced with a similar dilemma as BRICS countries are looking to eliminate it to settle global trade. While BRICS is advancing to abolish the dominance of the U.S. dollar, it’s time to die is not ‘so early’. The dollar still has steam and commands clout both financially and politically across the world.
In 2022 alone, 88% of the global trade was settled in the U.S. dollar alone by the majority of countries. This indicates that 99% of all countries hold the USD to trade in international markets. The number could more or less remain the same in 2023 despite the aggression by the BRICS nations.
Also Read: BRICS To Ignore the U.S. Dollar & Develop a New Currency Backed by Gold?
Remember, Madonna started the theme song by singing “I die another day” and ended it with “I’ll find another way”. Similarly, the USD could also ‘find another way’ to survive and its time to go is not now.