Thursday, July 17, 2025
LBNN
  • Business
  • Markets
  • Politics
  • Crypto
  • Finance
  • Energy
  • Technology
  • Taxes
  • Creator Economy
  • Wealth Management
  • Documentaries
No Result
View All Result
LBNN

10 U.S. Sectors To Be Affected if BRICS Launch New Currency

Simon Osuji by Simon Osuji
August 1, 2023
in Business
0
10 U.S. Sectors To Be Affected if BRICS Launch New Currency
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter

The BRICS summit is scheduled on August 22-24 and the bloc of five nations will gather in South Africa for the event. The summit is closely watched as the discussions could revolve around the launch of a new BRICS currency. Moreover, Russia’s Deputy Prime Minister Alexei Overchuk hinted that the formation of a BRICS currency could be discussed at the summit. If BRICS indeed launches a new currency, it could have lasting implications on the U.S. dollar and the American economy.

Also Read: Russian Deputy Prime Minister Makes Huge Announcement on BRICS Currency

In this article, we will highlight the 10 U.S. sectors that could be severely affected if BRICS launch their currency. BRICS is an acronym for Brazil, Russia, India, China, and South Africa.

10 U.S. Sectors To Be Impacted With The Launch of BRICS Currency

us dollar bill faces
Source: realmoney.thestreet.com

A total of 10 financial sectors in the U.S. could be affected by the launch of a new BRICS currency. They include banking, trade, and tourism, among others. The U.S. financial sectors that could be impacted by the formation of the new BRICS currency are:

  1. Global Financial System
  2. International Trade and Investment
  3. Energy and Commodity Markets
  4. Banking and Finance
  5. Travel and Tourism
  6. Capital Markets
  7. Consumer Goods and Retail
  8. Government and Policy
  9. Technology and Fintech
  10. Production and Consumption

Also Read: South Africa’s Foreign Minster Hints 3 Countries Are Set To Join BRICS

All these sectors are closely linked to the U.S. dollar and operate globally with the exchange of the USD currency. Also, if BRICS convinces other developing countries to ditch the U.S. dollar, the geopolitical dynamics could alter world trade relations. In addition, if banking and finance take the first hit, the negative development could spill over to the commodities and foreign exchange markets.

Similarly, the domino effect could topple all the sectors bringing turmoil into the American economy. Moreover, if the U.S. fails to fund its deficit, prices of all commodities could skyrocket or even reach hyperinflation.

Also Read: 74 Countries Ready To Attend BRICS Summit In August

In conclusion, the fate of the U.S. dollar depends if the BRICS alliance will launch a new currency or not. The greenback remains at the crossroads of a shift into the new financial order dominated by the East and not the West.

Source link

Related posts

Visa and NSE Launch Plan to Boost Retail Investing

Visa and NSE Launch Plan to Boost Retail Investing

July 16, 2025
Safaricom Hosts Safire Connect Forum in Eldoret

Safaricom Hosts Safire Connect Forum in Eldoret

July 16, 2025
Previous Post

New nanotech identifies chemical composition and structure of impurities in air, liquid and living tissue

Next Post

Kevin Durant Arrives To Game Plan In Style With Grand Wagoneer

Next Post
Kevin Durant Arrives To Game Plan In Style With Grand Wagoneer

Kevin Durant Arrives To Game Plan In Style With Grand Wagoneer

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

Single Stunners Looking For Romance On ‘Ready To Love: Dallas’

Single Stunners Looking For Romance On ‘Ready To Love: Dallas’

2 years ago
Massive space debris crashes into Kenyan village. Ownership remains unclear

Massive space debris crashes into Kenyan village. Ownership remains unclear

6 months ago
Etihad Airways announced as official airline and platinum sponsor for Air Expo Abu Dhabi 2024

Etihad Airways announced as official airline and platinum sponsor for Air Expo Abu Dhabi 2024

9 months ago
9 Best Early Deals From the Amazon Book Sale (2025)

9 Best Early Deals From the Amazon Book Sale (2025)

3 months ago

POPULAR NEWS

  • Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    0 shares
    Share 0 Tweet 0
  • When Will SHIB Reach $1? Here’s What ChatGPT Says

    0 shares
    Share 0 Tweet 0
  • The world’s top 10 most valuable car brands in 2025

    0 shares
    Share 0 Tweet 0
  • Tanzania’s natural gas sector goes global with Dubai deal

    0 shares
    Share 0 Tweet 0
  • Top 10 African countries with the highest GDP per capita in 2025

    0 shares
    Share 0 Tweet 0
  • Privacy Policy
  • Contact

© 2023 LBNN - All rights reserved.

No Result
View All Result
  • Home
  • Business
  • Politics
  • Markets
  • Crypto
  • Economics
    • Manufacturing
    • Real Estate
    • Infrastructure
  • Finance
  • Energy
  • Creator Economy
  • Wealth Management
  • Taxes
  • Telecoms
  • Military & Defense
  • Careers
  • Technology
  • Artificial Intelligence
  • Investigative journalism
  • Art & Culture
  • Documentaries
  • Quizzes
    • Enneagram quiz
  • Newsletters
    • LBNN Newsletter
    • Divergent Capitalist

© 2023 LBNN - All rights reserved.