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 <p>A growing number of countries are expressing discontent with the U.S. dollar and America’s global financial policies. The dissatisfaction comes at a time when the <a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> alliance is looking to sideline the U.S. dollar for international transactions. The displeasure against America’s hegemony perfectly coincided with the <a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> summit, when countries were looking at alternatives other than the U.S. dollar.</p> 
 <p>A total of 45 countries have expressed interest in joining the BRICS bloc in the weeks ahead of the summit. 23 countries have formally submitted their applications, while 22 other nations have expressed an interest in joining the group.</p> 
 <p><strong>Also Read: 45 Countries Prepare To Join <a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> Weeks Before Summit</strong></p> 
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 <h2 class="wp-block-heading" id="h-85-of-the-world-s-population-could-ditch-u-s-dollar-if-brics-launch-new-currency">85% of the World’s Population Could Ditch U.S. Dollar if BRICS Launch New Currency</h2> 
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  <img decoding="async" width="1000" height="563" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" alt="US dollar Chinese Yuan BRICS Currency" class="wp-image-104548 ewww_webp" sizes="(max-width: 1000px) 100vw, 1000px" data-src-img="https://cdn.thebittimes.com/images/2023/08/11/69bc1e56e6a72cb8b03e8b7d66dc005a.webp" data-src-webp="https://cdn.thebittimes.com/images/2023/08/11/69bc1e56e6a72cb8b03e8b7d66dc005a.webp.webp" data-srcset-webp="https://cdn.thebittimes.com/images/2023/08/11/69bc1e56e6a72cb8b03e8b7d66dc005a.webp.webp 1000w, https://cdn.thebittimes.com/images/2023/08/11/69bc1e56e6a72cb8b03e8b7d66dc005a.webp.webp 300w, https://cdn.thebittimes.com/images/2023/08/11/69bc1e56e6a72cb8b03e8b7d66dc005a.webp.webp 768w, https://cdn.thebittimes.com/images/2023/08/11/69bc1e56e6a72cb8b03e8b7d66dc005a.webp.webp 380w, https://cdn.thebittimes.com/images/2023/08/11/69bc1e56e6a72cb8b03e8b7d66dc005a.webp.webp 550w, https://cdn.thebittimes.com/images/2023/08/11/69bc1e56e6a72cb8b03e8b7d66dc005a.webp.webp 800w" data-srcset-img="https://cdn.thebittimes.com/images/2023/08/11/69bc1e56e6a72cb8b03e8b7d66dc005a.webp 1000w, https://cdn.thebittimes.com/images/2023/08/11/69bc1e56e6a72cb8b03e8b7d66dc005a.webp 300w, https://cdn.thebittimes.com/images/2023/08/11/69bc1e56e6a72cb8b03e8b7d66dc005a.webp 768w, https://cdn.thebittimes.com/images/2023/08/11/69bc1e56e6a72cb8b03e8b7d66dc005a.webp 380w, https://cdn.thebittimes.com/images/2023/08/11/69bc1e56e6a72cb8b03e8b7d66dc005a.webp 550w, https://cdn.thebittimes.com/images/2023/08/11/69bc1e56e6a72cb8b03e8b7d66dc005a.webp 800w" data-eio="j"> 
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   <img decoding="async" width="1000" height="563" src="https://cdn.thebittimes.com/images/2023/08/11/69bc1e56e6a72cb8b03e8b7d66dc005a.webp" alt="US dollar Chinese Yuan BRICS Currency" class="wp-image-104548" srcset="https://cdn.thebittimes.com/images/2023/08/11/69bc1e56e6a72cb8b03e8b7d66dc005a.webp 1000w, https://cdn.thebittimes.com/images/2023/08/11/69bc1e56e6a72cb8b03e8b7d66dc005a.webp 300w, https://cdn.thebittimes.com/images/2023/08/11/69bc1e56e6a72cb8b03e8b7d66dc005a.webp 768w, https://cdn.thebittimes.com/images/2023/08/11/69bc1e56e6a72cb8b03e8b7d66dc005a.webp 380w, https://cdn.thebittimes.com/images/2023/08/11/69bc1e56e6a72cb8b03e8b7d66dc005a.webp 550w, https://cdn.thebittimes.com/images/2023/08/11/69bc1e56e6a72cb8b03e8b7d66dc005a.webp 800w" sizes="(max-width: 1000px) 100vw, 1000px"> 
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    Source: thecradle.co 
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 <p>Andy Schectman, President of Miles Franklin, says that 85% of the global population could ditch the U.S. dollar <strong>“all at once”</strong>. If <a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> inducts all countries that are looking to join the alliance, the U.S. dollar could be dropped for cross-border transactions. Schectman sees Saudi Arabia as an essential player that could rally other countries to settle oil payments in local currencies.</p> 
 <p><strong>Also Read: Will U.S. Economy Be Impacted if <a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> Trade In Local Currencies?</strong></p> 
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 <p>Schectman stressed that eventually, 85% of the global population could end reliance on the U.S. dollar if they joined the <a rel="noopener noreferrer nofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a>. <strong>“There is this cohesion of countries that have joined together to break free from the Western hegemony,”</strong> he said to Kitco News. <strong>“I look to Saudi Arabia as the linchpin of all of the issues surrounding the de-dollarization and the dollar hegemony.”</strong></p> 
 <p>According to Schectman, if all groups such as BRICS, SCO, ASEAN, and GCC countries ditched the U.S. dollar, they would make up 85% of the population that would stop trading in the dollar.<strong> “If you put together the Belt Road Initiative, the BRICS, the Shanghai Cooperation Organization, and the Eurasian Economic Union, it’s is a very big deal,”</strong> he noted.</p> 
 <p><strong>Also Read: BRICS Bank To Increase Funding in Local Currency, Ditching U.S. Dollar</strong></p> 
 <p><strong>“The Shanghai cooperation organization is the largest regional military and financial organization in the world. It represents about 60% of the Eurasian landmass and 40% of the global GDP,”</strong> he summed it up.</p> 
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<div class="cs-entry__tags"> 
 <ul> 
  <li>BRICS</li> 
  <li>BRICS Currency</li> 
  <li>US DOLLAR</li> 
 </ul> 
</div>

BRICS: 85% of The World's Population Ready Ditch U.S. Dollar

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