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BRICS member Russia has commented on the recent 100% tariff threats issued by President-elect Donald Trump for cutting ties with the US dollar. Russian President Vladimir Putin spoke about the threats by poking fun at the American economy and its dwindling power. The clout that the US carried a few decades ago is no longer in existence as developing countries have come far ahead in steering their economy to prosperity. Also Read: BRICS: Global US Dollar Payments Fall Below 50% While their economy is becoming prosperous, BRICS is focusing on boosting their local currency and not the US dollar. The bloc is determined to use local currencies first and keep the US dollar in the backseat of the global economy. Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade. Also Read: Top Economist Predicts the Future of BRICS Currency BRICS: The U.S. Dollar’s Global Influence Is Decreasing Source: Wallpaperflare BRICS leader and Russian President Pu...

ASEAN nations, comprising ten Southeast Asian countries, are gearing up to launch a new currency. This currency, currently under construction, intends to rival the US dollar and carve out its global positioning. Discussion about the ASEAN US dollar competition is intensifying as the launch date approaches. With rising US debt metrics and the weaponization of the US dollar, calls to derail the US dollar have grown fiercely loud. Will ASEAN’s bold move to injure the USD’s prestige ever fructify? Let’s find out. Also Read: Shiba Inu (SHIB) & Dogecoin (DOGE) Weekend Price Prediction Why is ASEAN Moving Away From The US Dollar? ASEAN nations are collectively working towards launching their currency systems with a multipolar currency narrative in mind. The purpose of spearheading the local currency agenda is to reduce its growing dependence on the US dollar. Research conducted by ICS shows that a significant portion, exceeding 80%, of the outstanding international debt securities within...

Vice President (VP) Senator Kashim Shettima stated that Nigeria is not only catching up with global advancements but is likely to rise to the top, both economically and technologically, as per the latest updates shared with Finbold on July 25.  The statement was issued during the launch of the AI Expertise Blockchain and Technology Training and Outsourcing Initiative in Dutse, the capital of Jigawa State. Nigeria’s digital leadership strategy As part of Nigeria’s strategy for regional digital leadership, Shettima also launched the 4th edition of the Expanded National Micro, Small and Medium Enterprises (MSMEs) Clinic.  Picks for you ChatGPT4-o mini predicts Gold price for end of 2024 54 mins ago INTMAX announces the leading d...

One community member thinks that, in this case, all speculative markets, including crypto, will lose ground. After contracting in the first quarter of 2023, the German economy has officially entered into recession , according to data from the country’s statistics office. A recession is generally identified when there is a decline in the gross domestic product (GDP) in two successive quarters. In Germany’s case, the country’s GDP reportedly fell by 0.3% for the quarter, following a decline of 0.5% in the fourth quarter of 2022. Members of the crypto community were split on the potential effects of the recession on the crypto economy. While some believe it’s a bullish signal for crypto , others think it might not have that much-desired effect on the space. On Twitter, some were saddened by the news but believed that the event was still a bullish sign for crypto. Community members believe that it’s a bullish sign. Source: Twitter On Reddit, a community member argued that it’s possi...