The economic clash between the global South and the United States is taking a new turn, with Brazil asserting itself as a key player. Inspired by the BRICS nations, it aims to redefine power balances on the international stage.
Brazil's New Role in Global Finance
Under the leadership of President Luiz Inácio Lula da Silva, Brazil is accelerating the development of BRICS Pay, a digital settlement platform that enables bypassing the SWIFT system. Over 50 countries are reportedly ready to support this move, significantly breaking away from the American monopoly on international transactions. Lula stated, "It is not about replacing our currencies, but we must ensure that the multipolar order we aim for is reflected in the international financial system."
U.S. Reaction and Trump's Response
US President Donald Trump responded negatively to the BRICS initiative, threatening a 150% tax on imports from countries he believes undermine the dollar. "Any BRICS state that mentions the destruction of the dollar will be sanctioned," he reiterated. While BRICS countries aim to reduce dollar dependence, it does not imply a desire to destroy it.
Potential Outcomes and the Future of BRICS
If the BRICS payment system is adopted by 50 countries, it could significantly reduce dollar dominance and weaken US control over the global economy. The question remains whether Brazil and its allies can withstand US pressure. The 2025 BRICS summit might mark a new phase in this global economic transformation.
The stakes are high in the economic showdown between BRICS and the US. With support for BRICS initiatives, significant changes in the global economy could be on the horizon.
