BRICS is a global economic and political bloc that includes 5 countries with the fastest economic growth in the world, more than 40 percent of the world's population and about 26 percent of the world's gross domestic product. Reducing the dominance of the dollar on the global economy, will trade transactions between member countries be in local currencies, will the BRICS Development Bank succeed in getting rid of the dominance of the dollar, will economic institutions be established to help countries finance their projects as an alternative to the World Bank and the IMF, which set conditions that are often politicized and work to serve certain interests! Will a single currency be created for this bloc as in the European Union, what are the challenges and difficulties that may face this grouping, especially with the differences between China and India? Does the expansion and accession of other countries benefit this bloc and are there new conditions and criteria for accession? ..........
The dollar still dominates and plays a key role in the global economy and finance, and America's economy is the largest in the world, and the dollar constitutes the largest share in the global monetary reserve for a long time.... Will these blocs succeed in reducing dependence on the dollar in trade dealings between countries, and does this bloc pose a major threat to the United States and Europe? Perhaps it will take many years for the results of this alliance to appear.