President-elect Donald Trump has signaled a bold stance on global trade by threatening a trade war against the BRICS Alliance, a coalition that includes influential nations such as Brazil, Russia, India, China, and South Africa. The proposed action stems from concerns over the alliance’s growing influence and their consideration of moving away from the U.S. dollar as the world’s reserve currency, a strategy known as de-dollarization.
The BRICS Alliance, originally formed in 2009, has expanded to include nine member countries, now informally referred to as BRICS Plus. The coalition seeks to shift global economic power, aiming to reduce reliance on Western financial systems like the International Monetary Fund (IMF) and the World Bank. The group has established its own New Development Bank, a counter to these Western institutions, and has explored alternatives to the U.S. dollar in international trade.
The BRICS countries collectively account for 35% of global GDP based …