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The shifting global dynamics that are set to reshape the international trade landscape in 2024 and beyond. Prepare to witness a significant departure from the long-standing US dollar-dominated system as 20 countries embark on a historic move to abandon its dominance in favor of their native currencies. Spearheaded by the expansion of BRICS (Brazil, Russia, India, China, & South Africa), this transformation marks a monumental shift in global economic power.
The BRICS has witnessed steady growth and influence, leading to Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE officially joining the bloc on Jan/1/24. As a collective, these nations encompass an impressive 30% of the world’s land surface & embrace 45% of the global population. Thanks for watching! Don’t forget to subscribe to our channel for more insightful videos on global dynamics and emerging trends.