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Story za jaba… The Dollar is still the world reserve currency. Debt will still be paid in dollars so most countries will have to look for dollars whether they like it or not… Long term the dollar is going nowhere…
This will be true in the beginning but they’ll de-dollarize at an increasing rate. Look the US Dollar is too risky. US can wake up and decide you will not have access to your money. They’ve done it to Russia and poor Afghanistan now. You never know if you are next…
https://www.youtube.com/watch?v=ivU-3PTLWlI
@dan1 checki the trend of world reserves at the beginning of this video. That percentage will keep dropping.
Siongezei kitu
Dedollarization would hit African countries hard. Idk why you are wishing for it. US funds so many things in Africa and you middle class Kenyans want to wish all that dissappears just because you want to appease Russia and China which views you lowly and wouldn’t want you in their borders. I’ve never gotten the gist tbh. You can criticize the West as you much can but wishing for de-dollarization wakati Africans bado hatujajua kujipanga is akin to suicide. The bigger they are, the harder they fall.
watatumia yuan ama rubbles:D:D:Dthese are mind games. ata euro ilikuja and the dollar remained
Empires come and go. Before the Americans we had the British Empire “where the sun never sets”
You guys need to stop being ignorant.
Ngoja BRICS meeting yenye itakua South Africa this month ujue how many countries are looking to dedollarize. South America, Asia, The Middle East & Africa are fed up with the Wests nonesense.
Stop being so ignorant. Tumia internet pia kuelewa how international trade works and how the US fucked up completely by freezing Russia’s Swift dollar account. And Afghanistans. Who wants to risk being next?
Hao watu ya BRICs wakileta nyef nyef pia watawekwa sanctions… Chinese kwanza Hawapendi story za sanctions. Biden akitishia tu hivi Watakunja mkia very fast…
Yeah look how well sanctions against Russia have worked. Russia is now selling more oil and gas than before the sanctions. And Europe is still buying Russian commodities from the smart countries that buy it cheap from Russia and sell it to Europe at a premium. Russia had the lowest inflation in Europe over the past year and it’s GDP increased over the sanction period. Oh and Germany entered into recession for being silly enough to go with the sanctions plan.
Brics countries control majority of the commodities that Europe need. Between them UAE, Russia, China, Saudi Arabia, Braziland Venezuela virtually control the oil market. They’ll be the largest producing block and the largest consuming block.
BRICS was created on June 16, 2019, and it compromises Brazil, Russia, India, China, and South Africa. The alliance is taking on the U.S. dollar with plans to launch a new currency to settle payments for international trades. The move is attracting other Eastern countries into the bloc as they want to end reliance on the dollar and promote native currencies.
In addition, developing nations from Africa, the Middle East, and South East Asia are ready to join the BRICS alliance. In this article, we will highlight how many countries have shown their interest in joining the BRICS bloc.
Also Read: Middle East Countries Look To Join BRICS Alliance
Full List of Countries That Have Shown Interest in Joining BRICS
BRICS
Source: Tutwa Consulting Group
Discussing the expansion of BRICS to BRICS+ is currently underway and could be decided in the next summit on August 2023. The countries that have shown interest in joining BRICS are:
Algeria
Argentina
Bahrain
Egypt
Indonesia
Iran
Saudi Arabia
United Arab Emirates
Afghanistan,
Bangladesh
Belarus
Kazakhstan
Mexico
Nicaragua
Nigeria
Pakistan
Saudi Arabia
Senegal
Sudan
Syria
Thailand
Tunisia
Turkey
Uruguay
Venezuela, and
Zimbabwe.
Have all formally applied to join BRICS. Sanction them all we see who will be affected most. Who will supply Europe with oil, gas, raw materials, minerals?
Don’t be fooled. All those countries that were sanctioned are not doing better than before the sanctions. Believe me, the US has the best minds in the world and they figured out how to prevent dedollarization a long time ago.
Almost everything that you consider advanced today was invented in the US. From smartphone to the internet, computers, social media, AI, and more. This is proof that the US is way ahead of the rest of the world when it comes to technology, influence, and control.
As such, there’s no way AT ALL that another currency besides the dollar is going to become the world reserve currency. Ikienda hivo ngoja world war 3…
The percentage of World Reserves held in USD already dropped from 70% to 45%. Uko kwa wishful thinking like your AMerican friends. And the trend will continue. Count the number of Nuclear Warheads the Brics countries have and then rethink if US can engage them in conventional war.
You have ignored all my points and answered something completely different from what I raised/asked. Truth of the matter is, Africa would be the most affected by dedollarization. Whether that’s a good thing or not, is up for debate.
Africa will be the most positively affected. Kapa oil refinieries na pwani oil juzi had to drastically reduce production because of a dollar shortage. If we could buy in shillings such nonesense wouldn’t happen. Why should Africa periodically have to go through such nonesense if Afri Exim Bank has the infrustructure necessary for Africans to pay in local currencies?
Pwani Oil, the manufacturer of Freshfri, Salit and Fry Mate cooking oils, has temporarily shut down its oil plant due to shortage of raw materials which it blamed on difficulties accessing dollars to pay suppliers on time.
https://www.theafricareport.com/295118/kenya-dollar-scarcity-hits-every-aspect-of-life/
Like other net importers in Africa, Kenya has been suffering foreign exchange shortages since the outbreak of the coronavirus. These reserves have been further dwindling due to the ramifications of the ongoing Russian invasion of Ukraine, including rocketing commodity prices.
“Close to 70% of African economies are facing serious challenges of foreign exchange. Some countries have stopped allocating hard currencies for the import of commodities,” says Kenya’s Trade Cabinet Secretary Moses Kuria.
Why should we keep exposing our traders to this nonesense?
Bure Kabisa…The dude is too involved in subjects above his pay grade when his government is falling apart.
You are the kind of idiots giving him unnecessary confidence when he’s spewing rubbish! :rolleyes::rolleyes: